Hanesbrands (HBI) Rating Lowered to Sell at Zacks Investment Research

Hanesbrands (NYSE:HBI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Tuesday.

According to Zacks, “Hanesbrands has lagged the industry in the past three months owing to a tough retail landscape which is hurting its brick-and-mortar performance. Evidently, this marred Hanesbrands’ domestic sales in the quarter. Management expects these trends to linger in 2017, where it also expects high marketing costs. These factors, along with impacts from natural disasters led to a trimmed view. Nonetheless, the company has been gaining from its focus on acquisitions, particularly Champion Europe and Hanes Australasia. Benefits from these buyouts fueled third-quarter 2017 results, wherein the company returned to positive organic sales growth trajectory, courtesy of robust International sales. Also, solid online sales have been driving Hanesbrands' performance. Additionally, cost savings from Project Booster; expected gains from Alternative Apparel and expectations of organic sales growth keep management encouraged.”

Several other analysts also recently issued reports on HBI. Citigroup reissued a “neutral” rating and issued a $23.00 price target on shares of Hanesbrands in a research report on Tuesday. Stifel Nicolaus reissued a “hold” rating and issued a $23.00 price target on shares of Hanesbrands in a research report on Tuesday, September 26th. Oppenheimer reissued a “buy” rating on shares of Hanesbrands in a research report on Wednesday, October 18th. BidaskClub downgraded shares of Hanesbrands from a “hold” rating to a “sell” rating in a research report on Thursday, August 24th. Finally, Vetr raised shares of Hanesbrands from a “buy” rating to a “strong-buy” rating and set a $26.36 price target for the company in a research report on Monday, August 21st. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $25.97.

Hanesbrands (NYSE:HBI) traded down $0.34 during midday trading on Tuesday, reaching $21.12. 8,116,400 shares of the company traded hands, compared to its average volume of 5,312,048. Hanesbrands has a twelve month low of $18.90 and a twelve month high of $25.73. The company has a current ratio of 1.88, a quick ratio of 0.85 and a debt-to-equity ratio of 2.90. The firm has a market cap of $7,823.98, a P/E ratio of 11.01, a P/E/G ratio of 1.23 and a beta of 0.70.

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, meeting the consensus estimate of $0.60. Hanesbrands had a net margin of 9.43% and a return on equity of 64.73%. The business had revenue of $1.80 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter last year, the firm posted $0.56 EPS. Hanesbrands’s revenue was up 2.2% compared to the same quarter last year. sell-side analysts anticipate that Hanesbrands will post 1.94 EPS for the current fiscal year.

Large investors have recently modified their holdings of the business. Engine Capital Management LLC bought a new stake in shares of Hanesbrands during the 3rd quarter worth $106,000. QS Investors LLC raised its stake in shares of 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 purchasing an additional 140 shares during the period. Tiedemann Wealth Management LLC raised its stake in shares of Hanesbrands by 12.4% during the 3rd quarter. Tiedemann Wealth Management LLC now owns 34,254 shares of the textile maker’s stock worth $129,000 after purchasing an additional 3,787 shares during the period. Valeo Financial Advisors LLC bought a new stake in shares of Hanesbrands during the 3rd quarter worth $138,000. Finally, Archford Capital Strategies LLC raised its stake in shares of 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 purchasing an additional 1,247 shares during the period. Institutional investors and hedge funds own 96.78% of the company’s stock.

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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.

Analyst Recommendations for Hanesbrands (NYSE:HBI)

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