Hanesbrands Inc. (HBI) Price Target Lowered to $21.00 at Nomura

Hanesbrands Inc. (NYSE:HBI) had its price objective decreased by Nomura from $24.00 to $21.00 in a research note published on Thursday morning. Nomura currently has a neutral rating on the textile maker’s stock.

Several other research analysts have also issued reports on HBI. BidaskClub upgraded shares of Hanesbrands from a hold rating to a buy rating in a research report on Wednesday, July 5th. ValuEngine upgraded shares of Hanesbrands from a hold rating to a buy rating in a research report on Thursday, July 6th. Buckingham Research restated a buy rating and issued a $30.00 price target on shares of Hanesbrands in a research report on Monday, July 17th. Credit Suisse Group set a $28.00 price target on shares of Hanesbrands and gave the stock a buy rating in a research report on Thursday, July 27th. Finally, Oppenheimer Holdings, Inc. set a $32.00 price target on shares of Hanesbrands and gave the stock a buy rating in a research report on Tuesday, August 1st. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and ten have given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of $26.13.

Hanesbrands (HBI) traded down $0.72 during midday trading on Thursday, hitting $19.36. 10,495,729 shares of the company were exchanged, compared to its average volume of 5,694,564. The company has a quick ratio of 0.89, a current ratio of 1.88 and a debt-to-equity ratio of 2.90. The firm has a market capitalization of $7,056.31, a price-to-earnings ratio of 9.93, a PEG ratio of 1.11 and a beta of 0.73. Hanesbrands has a fifty-two week low of $18.91 and a fifty-two week high of $26.05.

Hanesbrands (NYSE:HBI) last posted its quarterly earnings results on Wednesday, November 1st. The textile maker reported $0.60 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.60. The firm had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.80 billion. Hanesbrands had a net margin of 9.43% and a return on equity of 64.73%. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.56 earnings per share. analysts forecast that Hanesbrands will post 1.94 EPS for the current year.

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The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 5th. Shareholders of record on Tuesday, November 14th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date is Monday, November 13th. Hanesbrands’s dividend payout ratio (DPR) is currently 37.04%.

In other Hanesbrands news, insider John T. Marsh sold 10,325 shares of Hanesbrands stock in a transaction on Monday, August 28th. The shares were sold at an average price of $24.27, for a total transaction of $250,587.75. Following the completion of the sale, the insider now owns 99,997 shares of the company’s stock, valued at approximately $2,426,927.19. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.10% of the company’s stock.

Large investors have recently modified their holdings of the business. Freestone Capital Holdings LLC boosted its stake in shares of Hanesbrands by 14.0% during the 2nd quarter. Freestone Capital Holdings LLC now owns 180,729 shares of the textile maker’s stock valued at $4,186,000 after buying an additional 22,190 shares during the period. BB&T Corp raised its holdings in Hanesbrands by 3.2% in the 2nd quarter. BB&T Corp now owns 561,111 shares of the textile maker’s stock worth $12,995,000 after acquiring an additional 17,312 shares during the period. Tradition Capital Management LLC raised its holdings in Hanesbrands by 21.8% in the 2nd quarter. Tradition Capital Management LLC now owns 249,960 shares of the textile maker’s stock worth $5,789,000 after acquiring an additional 44,785 shares during the period. Hosking Partners LLP raised its holdings in Hanesbrands by 1.6% in the 2nd quarter. Hosking Partners LLP now owns 630,125 shares of the textile maker’s stock worth $14,594,000 after acquiring an additional 10,212 shares during the period. Finally, Creative Planning raised its holdings in Hanesbrands by 42.0% in the 2nd quarter. Creative Planning now owns 28,692 shares of the textile maker’s stock worth $665,000 after acquiring an additional 8,487 shares during the period. 94.80% of the stock is owned by institutional investors.

About Hanesbrands

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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