Citigroup Cuts Hanesbrands (HBI) Price Target to $22.00

Hanesbrands (NYSE:HBI) had its target price cut by Citigroup from $23.00 to $22.00 in a report issued on Friday. They currently have a neutral rating on the textile maker’s stock.

Other equities analysts have also issued research reports about the company. B. Riley reissued a buy rating on shares of Hanesbrands in a research note on Thursday, November 2nd. Buckingham Research lowered their price objective on Hanesbrands from $30.00 to $29.00 and set a buy rating on the stock in a research note on Thursday, November 2nd. Deutsche Bank initiated coverage on Hanesbrands in a research note on Monday, October 23rd. They set a buy rating and a $29.00 price objective on the stock. FBR & Co reissued a buy rating on shares of Hanesbrands in a research note on Wednesday, October 18th. Finally, Oppenheimer reissued a buy rating on shares of Hanesbrands in a research note on Wednesday, October 18th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Hanesbrands presently has an average rating of Hold and a consensus target price of $25.60.

Shares of Hanesbrands (NYSE:HBI) opened at $19.26 on Friday. The company has a debt-to-equity ratio of 5.40, a quick ratio of 0.85 and a current ratio of 1.90. Hanesbrands has a 12-month low of $18.57 and a 12-month high of $25.73. The company has a market capitalization of $6,938.28, a P/E ratio of 9.93, a P/E/G ratio of 1.22 and a beta of 0.68.

Hanesbrands (NYSE:HBI) last released its quarterly earnings data on Thursday, February 8th. The textile maker reported $0.52 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.52. The company had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.63 billion. Hanesbrands had a return on equity of 72.30% and a net margin of 0.96%. The firm’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.53 earnings per share. analysts predict that Hanesbrands will post 1.75 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 13th. Stockholders of record on Tuesday, February 20th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 3.12%. The ex-dividend date of this dividend is Friday, February 16th. Hanesbrands’s dividend payout ratio (DPR) is presently 400.00%.

Several institutional investors have recently made changes to their positions in HBI. Engine Capital Management LLC acquired a new position in shares of Hanesbrands in the 3rd quarter valued at $106,000. QS Investors LLC lifted its stake in shares of Hanesbrands by 2.8% in the 2nd quarter. QS Investors LLC now owns 5,100 shares of the textile maker’s stock valued at $118,000 after purchasing an additional 140 shares during the last quarter. Tiedemann Wealth Management LLC lifted its stake in shares of Hanesbrands by 12.4% in the 3rd quarter. Tiedemann Wealth Management LLC now owns 34,254 shares of the textile maker’s stock valued at $129,000 after purchasing an additional 3,787 shares during the last quarter. Global Trust Asset Management LLC acquired a new position in shares of Hanesbrands in the 4th quarter valued at $134,000. Finally, Vestpro Financial Partners Inc. dba CPF Texas acquired a new position in Hanesbrands during the 4th quarter worth about $134,000. 95.26% of the stock is currently owned by institutional investors and hedge funds.

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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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