The stock of Hanesbrands Inc. (NYSE:HBI) hit a new 52-week low and has $21.87 target or 7.00% below today’s $23.52 share price. The 6 months bearish chart indicates high risk for the $8.77 billion company. The 1-year low was reported on Nov, 30 by Barchart.com. If the $21.87 price target is reached, the company will be worth $613.90M less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 982,354 shares traded hands. Hanesbrands Inc. (NYSE:HBI) has declined 15.55% since April 27, 2016 and is downtrending. It has underperformed by 20.77% the S&P500.
Analysts await Hanesbrands Inc. (NYSE:HBI) to report earnings on February, 2. They expect $0.58 EPS, up 31.82% or $0.14 from last year’s $0.44 per share. HBI’s profit will be $216.27 million for 10.14 P/E if the $0.58 EPS becomes a reality. After $0.56 actual EPS reported by Hanesbrands Inc. for the previous quarter, Wall Street now forecasts 3.57% EPS growth.
Hanesbrands Inc. (NYSE:HBI) Ratings Coverage
Out of 12 analysts covering Hanesbrands (NYSE:HBI), 10 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 83% are positive. $42 is the highest target while $30 is the lowest. The $34.09 average target is 44.94% above today’s ($23.52) stock price. Hanesbrands has been the topic of 20 analyst reports since September 17, 2015 according to StockzIntelligence Inc. Citigroup maintained the stock with “Buy” rating in Thursday, August 4 report. The firm has “Market Perform” rating by Cowen & Co given on Wednesday, October 12. The company was upgraded on Thursday, September 17 by Goldman Sachs. The firm has “Neutral” rating given on Monday, October 26 by DA Davidson. The firm has “Outperform” rating by Oppenheimer given on Friday, October 16. On Friday, February 5 the stock rating was maintained by UBS with “Buy”. The stock of Hanesbrands Inc. (NYSE:HBI) earned “Conviction Buy” rating by Goldman Sachs on Friday, December 4. The stock has “Outperform” rating given by Wells Fargo on Thursday, October 22. Nomura upgraded the stock to “Buy” rating in Monday, January 11 report.
According to Zacks Investment Research, “Hanesbrands Inc. is a leading marketer of innerwear, outerwear and hosiery apparel under strong consumer brands, including Hanes, Champion, Playtex, Bali, Just My Size, barely there and Wonderbra. The company designs, manufactures, sources and sells T-shirts, bras, panties, men’s underwear, children’s underwear, socks, hosiery, casual wear and active wear. Hanesbrands Inc. is a world-class consumer goods company with more than a century of history and a portfolio of leading apparel essentials brands including Hanes, Champion, Playtex, Bali, L’eggs, Just My Size, Barely There and Wonderbra. Hanesbrands sells high-volume apparel essentials such as T-shirts, bras, panties, men’s underwear, kids’ underwear, socks, hosiery, casualwear and activewear.”
Insitutional Activity: The institutional sentiment decreased to 1 in 2016 Q2. Its down 0.04, from 1.04 in 2016Q1. The ratio worsened, as 55 funds sold all Hanesbrands Inc. shares owned while 172 reduced positions. 59 funds bought stakes while 177 increased positions. They now own 331.36 million shares or 4.80% more from 316.18 million shares in 2016Q1.
Blackrock holds 703,461 shares or 0.03% of its portfolio. Timessquare Ltd has 3.24M shares for 0.54% of their US portfolio. Smith Salley And Assocs owns 27,676 shares or 0.16% of their US portfolio. North Star holds 0.01% of its portfolio in Hanesbrands Inc. (NYSE:HBI) for 2,796 shares. Moreover, Credit Agricole S A has 0.03% invested in Hanesbrands Inc. (NYSE:HBI) for 302,546 shares. Piedmont last reported 4 shares in the company. Tealwood Asset accumulated 0.54% or 48,052 shares. Advsrs Mgmt Limited Liability has 0.69% invested in the company for 267,383 shares. Penn Management, a Pennsylvania-based fund reported 39,621 shares. Janney Capital Mngmt last reported 0.63% of its portfolio in the stock. Citigroup Inc reported 32,078 shares or 0% of all its holdings. Affinity Wealth Mgmt holds 0.16% of its portfolio in Hanesbrands Inc. (NYSE:HBI) for 9,418 shares. Cupps Cap Mngmt Ltd Company holds 0.13% or 19,641 shares in its portfolio. Apg Asset Management Nv last reported 661,671 shares in the company. Finemark Bank & Trust & Tru last reported 3,434 shares in the company.
Insider Transactions: Since June 3, 2016, the stock had 1 buying transaction, and 1 sale for $381,552 net activity. On Friday, June 3 Marsh John T. sold $299,962 worth of the stock or 10,986 shares. 20,000 shares were bought by NOLL RICHARD A, worth $514,742 on Tuesday, August 9. On Monday, November 21 Mathews Jessica Tuchman sold $133,190 worth of the stock or 5,433 shares.
Another recent and important Hanesbrands Inc. (NYSE:HBI) news was published by Forbes.com which published an article titled: “Ex-Dividend Reminder: Standard Motor Products, HanesBrands and Kroger” on November 08, 2016.
HBI Company Profile
Hanesbrands Inc., incorporated on October 30, 2005, is a maker and marketer of apparels. The Firm operates through four divisions: Innerwear, Activewear, Direct to Consumer and International. The Company’s portfolio of brands includes Hanes, Champion, Maidenform, DIM, Playtex, Bali, JMS/Just My Size, Nur Die/Nur Der, L’eggs, Lovable, Wonderbra, Flexees, Lilyette and Gear for Sports. The Company’s Hanes brand offers various products, including men’s, women’s and children’s underwear, bras, socks, T-shirts, fleece, shape wear and sheer hosiery. The Company’s Champion brand offers athletic apparel, including sports bras, team uniforms, and gym essentials, such as T-shirts, mesh shorts and fleece hoodies.
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