Hanesbrands (NYSE:HBI) Stock Price Down 4.1% – Here’s What Happened

Hanesbrands Inc. (NYSE:HBI)’s share price traded down 4.1% during trading on Monday . The company traded as low as $8.31 and last traded at $8.35. 700,876 shares traded hands during mid-day trading, a decline of 91% from the average session volume of 7,591,448 shares. The stock had previously closed at $8.71.

Analysts Set New Price Targets

Several research firms have recently weighed in on HBI. Barclays raised their target price on Hanesbrands from $6.00 to $7.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. UBS Group raised Hanesbrands from a “neutral” rating to a “buy” rating and lifted their target price for the company from $9.00 to $11.00 in a research report on Tuesday, November 26th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $6.90.

Hanesbrands Stock Performance

The firm has a market capitalization of $3.00 billion, a price-to-earnings ratio of -13.20 and a beta of 1.64. The company has a debt-to-equity ratio of 21.50, a quick ratio of 0.90 and a current ratio of 1.49. The stock’s fifty day moving average is $7.86 and its two-hundred day moving average is $6.52.

Hanesbrands (NYSE:HBI) last released its quarterly earnings data on Thursday, November 7th. The textile maker reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.04. Hanesbrands had a negative net margin of 5.24% and a positive return on equity of 44.72%. The firm had revenue of $937.10 million during the quarter, compared to the consensus estimate of $936.47 million. During the same quarter in the previous year, the company posted $0.10 earnings per share. The firm’s revenue was down 2.5% on a year-over-year basis. Analysts forecast that Hanesbrands Inc. will post 0.39 earnings per share for the current year.

Institutional Trading of Hanesbrands

Large investors have recently added to or reduced their stakes in the business. Rothschild Investment LLC acquired a new position in Hanesbrands in the second quarter valued at about $39,000. Blue Trust Inc. grew its holdings in Hanesbrands by 42.3% during the 3rd quarter. Blue Trust Inc. now owns 5,359 shares of the textile maker’s stock worth $39,000 after acquiring an additional 1,594 shares during the period. Intech Investment Management LLC acquired a new position in shares of Hanesbrands in the 2nd quarter valued at $51,000. Whittier Trust Co. bought a new position in shares of Hanesbrands in the 3rd quarter worth $51,000. Finally, Fifth Third Wealth Advisors LLC acquired a new stake in shares of Hanesbrands during the second quarter worth $55,000. 80.31% of the stock is owned by institutional investors.

About Hanesbrands

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.