Canada's Gildan to buy Hanesbrands for $2.2 billion to expand basic apparel business
Gildan is acquiring Hanesbrands for $2.2 billion, expanding its apparel range.
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HBI
Hanesbrands Inc. · NYSE · Consumer Cyclical
Price$6.47+0.00% · +$0.00
Market cap2.29BEquity value
P / E5.5Trailing ratio
Volume104.19MLatest session
Market data
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This Underwear Stock Just Soared 30%. It Got a $5 Billion Bid, Says Report. - Barron's
Hanesbrands stock rose 37.78% after acquisition news. Deal valued at approximately $5 billion, including debt. Hanesbrands had a market value of $1.7 billion prior to news. Gildan's stock fell 8.6% amidst acquisition speculation. Hanesbrands previously reported earnings that beat expectations.
View signal analysisUBS Lifts Price Target on Hanesbrands, Says Company Is at 'Inflection Point'
UBS increased HBI's price target to $6.50 from $5. HBI's CEO is boosting spending on product innovation and marketing. The sale of Champion brand could improve EBIT margins to 15%. HBI shares rose 5.7% to $6.65, highest since early 2023. Analysts suggest HBI could turn a corner with strategic execution.
View signal analysisHanesBrands (HBI) Flat As Market Sinks: What You Should Know
HanesBrands ended at $5.36, unchanged from the previous day. EPS forecast for HanesBrands is $0.10, up 1100% year-over-year. Zacks Consensus projects revenue of $1.35 billion, down 6.14% year-over-year. HanesBrands has a Zacks Rank of #1 (Strong Buy) indicating positive analyst sentiment. Current Forward P/E of 11.74 suggests HanesBrands is undervalued compared to its industry average.
View signal analysisHanesBrands Sells Champion Label To Authentic Brands Group for $1.2 Billion
- HanesBrands sold Champion to Authentic Brands Group for at least $1.2 billion. - Sale could reach $1.5 billion based on performance thresholds, part of financial improvement efforts. - HBI shares rose 4.6% after the announcement, up more than 17% this year. Price Impact Rating: Bullish Impact Horizon Rating: Short-term Type: Corporate Developments Key Takeaways: HanesBrands sold Champion to improve financial performance, leading to a boost in share price.
View signal analysisHanesBrands to Sell Champion Brand to Authentic Brands for $1.2 Billion, Stock Jumps
- HanesBrands to sell Champion business to Authentic Brands for up to $1.5 billion. - Agreement includes $300 million contingent consideration. - HanesBrands stock rose 6.9% post-announcement. Price Impact Rating: Bullish Impact Horizon Rating: Short-term Type: Corporate Developments
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