Hanesbrands Inc. (NYSE:HBI – Get Free Report)’s share price fell 6.1% on Monday . The company traded as low as $4.45 and last traded at $4.47. 3,909,999 shares were traded during mid-day trading, a decline of 36% from the average session volume of 6,126,612 shares. The stock had previously closed at $4.76.
Analysts Set New Price Targets
A number of brokerages have recently issued reports on HBI. Stifel Nicolaus reduced their price objective on shares of Hanesbrands from $5.00 to $4.50 and set a “hold” rating for the company in a report on Thursday, December 14th. StockNews.com upgraded shares of Hanesbrands from a “sell” rating to a “hold” rating in a report on Tuesday, November 21st. Four equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Hanesbrands presently has an average rating of “Hold” and a consensus target price of $5.00.
Hanesbrands Trading Down 6.5 %
The firm has a market capitalization of $1.56 billion, a PE ratio of -3.05 and a beta of 1.57. The firm’s fifty day moving average is $4.16 and its two-hundred day moving average is $4.41. The company has a debt-to-equity ratio of 12.08, a current ratio of 1.57 and a quick ratio of 0.65.
Hanesbrands (NYSE:HBI – Get Free Report) last released its quarterly earnings results on Thursday, November 9th. The textile maker reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.01). Hanesbrands had a positive return on equity of 9.62% and a negative net margin of 8.84%. The firm had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.54 billion. During the same quarter last year, the firm posted $0.29 earnings per share. The firm’s revenue for the quarter was down 9.5% compared to the same quarter last year. On average, equities analysts predict that Hanesbrands Inc. will post 0.12 EPS for the current fiscal year.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in HBI. Fifth Third Bancorp increased its stake in shares of Hanesbrands by 39.1% in the second quarter. Fifth Third Bancorp now owns 7,690 shares of the textile maker’s stock worth $35,000 after purchasing an additional 2,163 shares in the last quarter. Harbour Investments Inc. increased its stake in shares of Hanesbrands by 63.2% in the fourth quarter. Harbour Investments Inc. now owns 6,020 shares of the textile maker’s stock worth $38,000 after purchasing an additional 2,332 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Hanesbrands in the third quarter worth about $40,000. Journey Strategic Wealth LLC purchased a new position in shares of Hanesbrands in the third quarter worth about $41,000. Finally, Sherbrooke Park Advisers LLC purchased a new position in shares of Hanesbrands in the third quarter worth about $42,000. Hedge funds and other institutional investors own 87.64% of the company’s stock.
About Hanesbrands
Hanesbrands Inc, a consumer goods company, designs, manufactures, sources, and sells a range of basic apparel for men, women, and children. The company operates through three segments: Innerwear, Activewear, and International. It sells men’s underwear, women’s panties, children’s underwear and socks, and activewear, as well as intimate apparel, such as bras and shapewears; home goods; and T-shirts, fleece, performance apparel, sport shirts, performance T-shirts and shorts, sports bras, teamwear, and thermals, as well as licensed logo apparel in collegiate bookstores and mass retail channels.