Hanesbrands Inc. (HBI) – Oppenheimer Downgrades Rating Lowers Price Target


Hanesbrands Inc. (NYSE:HBI).

On July 17 analysts at Buckingham began coverage of HBI with a rating of “Buy” and a price target of $30.00. On August 7 Morgan Stanley made no change to the stock rating of “Equal-Weight” but lowered the price target from $138.00 to $24.00.

On October 24, 2017 the stock rating was rated “Neutral” by Nomura down from the previous “Neutral” rating. Oppenheimer added the stock to its research portfolio setting a rating of “Buy”.

On October 24 the stock rating was downgraded to “Buy” from “Outperform” in a report issued by Oppenheimer. Equity analyst Deutsche Bank starting coverage on the stock giving it an initial rating of “Buy”.

On October 24 the company was downgraded from “Outperform” to “Buy” with a current price target of $29.00 by analysts at Oppenheimer.

In the market the company is trading up since yesterday’s close of 22.86. Additionally the company recently declared a dividend for shareholders that was paid on Wednesday the 6th of September 2017. The dividend was $0.150 per share for the quarter or $0.60 on an annualized basis. This dividend represents a yield of $2.59. The ex-dividend date was Friday the 11th of August 2017.

Company shares last traded at $23.07 slightly below the 50 day moving average of $24.32 and which is just a bit higher than the 200 day moving average of $22.94. The 50 day moving average went down by -5.170% and the 200 day average was up $0.12.

Hanesbrands Inc., launched on September 30, 2005, is a marketer of basic innerwear and activewear apparel in the Americas, Europe, Australia and Asia/Pacific. The Company operates through four segments: Innerwear, Activewear, Direct to Consumer and International. The Company primarily sells bras, panties, shapewear, hosiery, men’s underwear, children’s underwear, socks, T-shirts and other activewear. As of December 31, 2016, the Company distributed its products from 44 distribution centers. As of December 31, 2016, these facilities included 15 facilities located in the United States and 29 facilities located outside the United States in regions primarily where the Company sold its products. As of December 31, 2016, the Company internally managed and operated 32 of these facilities, and the Company used third-party logistics providers that operated the other 12 facilities on its behalf..

The company currently has a P/E ratio of 15.115 and the market cap is 8.41B. As of the last earnings report the EPS was $1.53 and is projected to be $1.99 for the current year with 364,478,000 shares outstanding. Next quarter’s EPS is estimated at $0.56 with next year’s EPS projected to be $2.16.

Traders are a little more bullish on shares of Hanesbrands Inc. recently if you evaluate the downtick in short interest. The firm recorded a fall in short interest between September 15, 2017 and September 29, 2017 of -3.64%. Short shares decreased 2,278,837 over that period. Days to cover decreased -3.0 to 14.0 and the percentage of shorted shares is 0.16% as of September 29.