Hanesbrands Inc. (HBI) Price Target Lowered to $29.00 at Buckingham Research

Hanesbrands Inc. (NYSE:HBI) had its price objective cut by Buckingham Research from $30.00 to $29.00 in a research report issued on Thursday. The firm presently has a “buy” rating on the textile maker’s stock. Buckingham Research’s price target points to a potential upside of 28.89% from the stock’s current price.

Several other equities analysts have also weighed in on the company. Morgan Stanley cut their target price on Hanesbrands from $24.00 to $23.00 and set an “equal weight” rating on the stock in a research note on Thursday. Wells Fargo & Company lowered Hanesbrands from an “outperform” rating to a “market perform” rating and set a $23.00 target price on the stock. in a research note on Wednesday, October 25th. Oppenheimer Holdings, Inc. reissued a “market perform” rating and issued a $26.00 target price (down previously from $32.00) on shares of Hanesbrands in a research note on Tuesday, October 24th. UBS AG lowered Hanesbrands from an “outperform” rating to a “market perform” rating in a research note on Tuesday, October 24th. Finally, Deutsche Bank AG assumed coverage on Hanesbrands in a research note on Monday, October 23rd. They issued a “buy” rating and a $29.00 target price on the stock. One research analyst has rated the stock with a sell rating, ten have given a hold rating and ten have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $26.13.

Hanesbrands (NYSE:HBI) last issued its quarterly earnings results on Wednesday, November 1st. The textile maker reported $0.60 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.60. Hanesbrands had a return on equity of 64.80% and a net margin of 9.02%. The business had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same quarter in the prior year, the firm posted $0.56 earnings per share. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year.

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In related news, insider John T. Marsh sold 10,325 shares of the business’s stock in a transaction on Monday, August 28th. The stock was sold at an average price of $24.27, for a total transaction of $250,587.75. Following the sale, the insider now owns 99,997 shares in the company, valued at approximately $2,426,927.19. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Richard D. Moss sold 20,000 shares of the business’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $24.08, for a total value of $481,600.00. Following the sale, the chief financial officer now owns 254,487 shares in the company, valued at approximately $6,128,046.96. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

A number of hedge funds have recently modified their holdings of HBI. QS Investors LLC lifted its holdings in Hanesbrands by 2.8% during the 2nd quarter. QS Investors LLC now owns 5,100 shares of the textile maker’s stock worth $118,000 after buying an additional 140 shares during the period. Washington Trust Bank lifted its holdings in Hanesbrands by 50.0% during the 2nd quarter. Washington Trust Bank now owns 6,000 shares of the textile maker’s stock worth $139,000 after buying an additional 2,000 shares during the period. Archford Capital Strategies LLC lifted its holdings in Hanesbrands by 283.4% during the 2nd quarter. Archford Capital Strategies LLC now owns 1,687 shares of the textile maker’s stock worth $141,000 after buying an additional 1,247 shares during the period. Commonwealth Bank of Australia lifted its holdings in Hanesbrands by 19.2% during the 2nd quarter. Commonwealth Bank of Australia now owns 6,598 shares of the textile maker’s stock worth $152,000 after buying an additional 1,062 shares during the period. Finally, IHT Wealth Management LLC lifted its holdings in Hanesbrands by 101.1% during the 2nd quarter. IHT Wealth Management LLC now owns 2,652 shares of the textile maker’s stock worth $159,000 after buying an additional 1,333 shares during the period. Institutional investors and hedge funds own 94.80% of the company’s stock.

Hanesbrands Company Profile

Hanesbrands Inc is a marketer of basic innerwear and activewear apparel in the Americas, Europe, Australia and Asia/Pacific under apparel brands, such as Hanes, Champion, Maidenform, DIM, Bali, Playtex, Bonds, JMS/Just My Size, Nur Die/Nur Der, L’eggs, Lovable, Wonderbra, Flexees, Gear for Sports and Berlei.

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