Hanesbrands (NYSE:HBI) Trading Down 5.8%

Hanesbrands Inc. (NYSE:HBIGet Free Report)’s stock price fell 5.8% during mid-day trading on Thursday . The company traded as low as $4.66 and last traded at $4.69. 6,022,656 shares were traded during trading, a decline of 23% from the average session volume of 7,798,424 shares. The stock had previously closed at $4.98.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on HBI shares. Citigroup raised their price objective on shares of Hanesbrands from $4.50 to $5.50 and gave the company a “neutral” rating in a research note on Wednesday, April 3rd. Barclays boosted their price objective on Hanesbrands from $4.00 to $5.00 and gave the stock an “equal weight” rating in a research report on Friday, May 10th. Finally, Wedbush restated a “neutral” rating and set a $5.00 target price on shares of Hanesbrands in a research note on Thursday, June 6th. Five research analysts have rated the stock with a hold rating, According to MarketBeat.com, Hanesbrands has a consensus rating of “Hold” and a consensus target price of $5.00.

Read Our Latest Stock Report on Hanesbrands

Hanesbrands Price Performance

The stock has a fifty day simple moving average of $4.86 and a 200-day simple moving average of $4.74. The company has a market capitalization of $1.74 billion, a PE ratio of -82.67 and a beta of 1.62. The company has a current ratio of 1.59, a quick ratio of 0.62 and a debt-to-equity ratio of 9.57.

Hanesbrands (NYSE:HBIGet Free Report) last issued its earnings results on Thursday, May 9th. The textile maker reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.04. The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.19 billion. Hanesbrands had a positive return on equity of 9.84% and a negative net margin of 0.42%. The business’s quarterly revenue was down 16.8% on a year-over-year basis. During the same quarter last year, the company earned ($0.06) EPS. Equities analysts anticipate that Hanesbrands Inc. will post 0.46 earnings per share for the current year.

Hedge Funds Weigh In On Hanesbrands

A number of hedge funds have recently modified their holdings of HBI. Evergreen Capital Management LLC raised its holdings in shares of Hanesbrands by 11.2% in the third quarter. Evergreen Capital Management LLC now owns 25,070 shares of the textile maker’s stock valued at $99,000 after buying an additional 2,533 shares during the last quarter. Cerity Partners LLC boosted its holdings in Hanesbrands by 6.7% during the fourth quarter. Cerity Partners LLC now owns 41,310 shares of the textile maker’s stock worth $184,000 after buying an additional 2,605 shares in the last quarter. Platinum Investment Management Ltd. boosted its stake in shares of Hanesbrands by 12.8% during the 4th quarter. Platinum Investment Management Ltd. now owns 24,779 shares of the textile maker’s stock worth $111,000 after acquiring an additional 2,812 shares in the last quarter. Avantax Advisory Services Inc. grew its holdings in shares of Hanesbrands by 13.6% in the 1st quarter. Avantax Advisory Services Inc. now owns 25,432 shares of the textile maker’s stock worth $148,000 after acquiring an additional 3,043 shares during the period. Finally, Independent Advisor Alliance raised its holdings in Hanesbrands by 33.4% during the fourth quarter. Independent Advisor Alliance now owns 13,488 shares of the textile maker’s stock worth $60,000 after purchasing an additional 3,378 shares during the last quarter. 80.31% of the stock is currently owned by hedge funds and other institutional investors.

About Hanesbrands

(Get Free Report)

Hanesbrands Inc, a consumer goods company, designs, manufactures, sources, and sells a range of range of innerwear apparels for men, women, and children in the Americas, Europe, the Asia pacific, and internationally. The company operates through three segments: Innerwear, Activewear, and International.

Featured Stories

Receive News & Ratings for Hanesbrands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hanesbrands and related companies with MarketBeat.com's FREE daily email newsletter.