Hanesbrands (NYSE:HBI) Hits New 12-Month Low After Analyst Downgrade

Hanesbrands Inc. (NYSE:HBI - Get Free Report)'s share price hit a new 52-week low on Thursday after Stifel Nicolaus lowered their price target on the stock from $7.00 to $5.00. Stifel Nicolaus currently has a hold rating on the stock. Hanesbrands traded as low as $4.02 and last traded at $4.86, with a volume of 18783103 shares. The stock had previously closed at $4.35.

Insider Buying and Selling at Hanesbrands

In related news, Director Robert F. Moran bought 74,850 shares of the business's stock in a transaction dated Tuesday, February 18th. The shares were acquired at an average price of $6.01 per share, for a total transaction of $449,848.50. Following the purchase, the director now owns 216,373 shares in the company, valued at $1,300,401.73. This trade represents a 52.89 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.46% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Hanesbrands by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 40,034,878 shares of the textile maker's stock valued at $325,884,000 after buying an additional 421,915 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in Hanesbrands by 28.2% during the fourth quarter. Ameriprise Financial Inc. now owns 9,951,948 shares of the textile maker's stock worth $81,009,000 after acquiring an additional 2,189,844 shares during the period. Geode Capital Management LLC raised its holdings in shares of Hanesbrands by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 7,914,447 shares of the textile maker's stock worth $58,183,000 after purchasing an additional 89,367 shares in the last quarter. Hennessy Advisors Inc. acquired a new stake in shares of Hanesbrands during the 4th quarter valued at $62,199,000. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Hanesbrands by 2.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 6,909,654 shares of the textile maker's stock worth $56,245,000 after acquiring an additional 171,918 shares during the last quarter. Institutional investors and hedge funds own 80.31% of the company's stock.

Remove Ads

Hanesbrands Stock Performance

The firm has a fifty day moving average price of $5.86 and a 200 day moving average price of $7.25. The firm has a market capitalization of $1.58 billion, a PE ratio of -4.87 and a beta of 1.55. The company has a debt-to-equity ratio of 64.28, a current ratio of 1.37 and a quick ratio of 0.68.

Hanesbrands (NYSE:HBI - Get Free Report) last announced its earnings results on Thursday, February 13th. The textile maker reported $0.17 EPS for the quarter, topping the consensus estimate of $0.14 by $0.03. The company had revenue of $888.47 million during the quarter, compared to analysts' expectations of $899.30 million. Hanesbrands had a negative net margin of 8.06% and a positive return on equity of 108.01%. Research analysts anticipate that Hanesbrands Inc. will post 0.53 earnings per share for the current fiscal year.

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.