Hanesbrands Inc. (NYSE:HBI – Get Free Report)’s share price was down 4.3% on Friday after Stifel Nicolaus lowered their price target on the stock from $5.00 to $4.50. Stifel Nicolaus currently has a hold rating on the stock. Hanesbrands traded as low as $4.02 and last traded at $4.03. Approximately 2,937,528 shares changed hands during mid-day trading, a decline of 68% from the average daily volume of 9,238,707 shares. The stock had previously closed at $4.21.
Separately, StockNews.com raised shares of Hanesbrands from a “sell” rating to a “hold” rating in a report on Tuesday, November 21st. Seven investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $5.50.
Institutional Investors Weigh In On Hanesbrands
Several hedge funds and other institutional investors have recently added to or reduced their stakes in HBI. American Century Companies Inc. grew its position in shares of Hanesbrands by 79.2% during the 3rd quarter. American Century Companies Inc. now owns 194,365 shares of the textile maker’s stock worth $770,000 after buying an additional 85,905 shares during the period. Comerica Bank acquired a new stake in shares of Hanesbrands during the 3rd quarter worth approximately $1,062,000. Creative Planning grew its position in shares of Hanesbrands by 10.9% during the 3rd quarter. Creative Planning now owns 178,382 shares of the textile maker’s stock worth $706,000 after buying an additional 17,466 shares during the period. Tudor Investment Corp Et Al acquired a new stake in shares of Hanesbrands during the 3rd quarter worth approximately $1,835,000. Finally, Belpointe Asset Management LLC acquired a new stake in shares of Hanesbrands during the 3rd quarter worth approximately $134,000. Institutional investors and hedge funds own 87.64% of the company’s stock.
Hanesbrands Stock Performance
The firm’s 50-day moving average price is $4.06 and its 200 day moving average price is $4.48. The company has a debt-to-equity ratio of 12.08, a quick ratio of 0.65 and a current ratio of 1.57. The company has a market cap of $1.42 billion, a price-to-earnings ratio of -2.89 and a beta of 1.59.
Hanesbrands (NYSE:HBI – Get Free Report) last issued its quarterly earnings results on Thursday, November 9th. The textile maker reported $0.10 EPS 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 business had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.54 billion. During the same quarter in the prior year, the firm earned $0.29 EPS. The firm’s quarterly revenue was down 9.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Hanesbrands Inc. will post 0.12 EPS for the current year.
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.