Hanesbrands (NYSE:HBI) Shares Down 7.4%

Hanesbrands Inc. (NYSE:HBI)’s stock price fell 7.4% on Thursday . The company traded as low as $4.49 and last traded at $4.50. 3,361,730 shares traded hands during mid-day trading, a decline of 62% from the average session volume of 8,796,588 shares. The stock had previously closed at $4.86.

Analysts Set New Price Targets

A number of brokerages have weighed in on HBI. Citigroup boosted their target price on Hanesbrands from $4.50 to $5.50 and gave the stock a “neutral” rating in a research report on Wednesday, April 3rd. Wedbush boosted their target price on Hanesbrands from $4.50 to $5.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 3rd. Four analysts have rated the stock with a hold rating, According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $5.00.

Hanesbrands Stock Up 0.2 %

The stock has a market cap of $1.57 billion, a PE ratio of -89.58 and a beta of 1.58. The company has a debt-to-equity ratio of 7.72, a quick ratio of 0.65 and a current ratio of 1.64. The company’s 50-day moving average price is $5.12 and its 200 day moving average price is $4.52.

Hanesbrands (NYSE:HBI) last released its quarterly earnings results on Thursday, February 15th. The textile maker reported $0.03 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.06). The business had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.36 billion. Hanesbrands had a negative net margin of 0.31% and a positive return on equity of 5.84%. Hanesbrands’s revenue for the quarter was down 12.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.07 EPS. As a group, analysts forecast that Hanesbrands Inc. will post 0.44 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Loews Corp boosted its stake in Hanesbrands by 54.2% in the 4th quarter. Loews Corp now owns 16,500,000 shares of the textile maker’s stock worth $73,590,000 after purchasing an additional 5,800,000 shares during the period. Gate City Capital Management LLC bought a new position in shares of Hanesbrands during the 4th quarter valued at approximately $9,812,000. Morningstar Investment Services LLC boosted its position in shares of Hanesbrands by 93.1% during the 4th quarter. Morningstar Investment Services LLC now owns 4,290,891 shares of the textile maker’s stock valued at $19,051,000 after acquiring an additional 2,069,204 shares during the last quarter. Landscape Capital Management L.L.C. boosted its position in shares of Hanesbrands by 609.5% during the 3rd quarter. Landscape Capital Management L.L.C. now owns 1,294,682 shares of the textile maker’s stock valued at $5,127,000 after acquiring an additional 1,112,202 shares during the last quarter. Finally, Partnership Wealth Management LLC bought a new position in shares of Hanesbrands during the 4th quarter valued at approximately $3,425,000. 80.31% of the stock is currently owned by institutional investors.

Hanesbrands Company Profile

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.