Hanesbrands (NYSE:HBI) Shares Gap Down - Here's Why

Hanesbrands Inc. (NYSE:HBI - Get Free Report)'s share price gapped down prior to trading on Thursday . The stock had previously closed at $7.67, but opened at $6.10. Hanesbrands shares last traded at $6.28, with a volume of 5,925,687 shares traded.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Stifel Nicolaus reissued a "hold" rating and set a $7.00 price target (down previously from $8.00) on shares of Hanesbrands in a research report on Friday. UBS Group upgraded shares of Hanesbrands from a "neutral" rating to a "buy" rating and upped their target price for the stock from $9.00 to $11.00 in a research report on Tuesday, November 26th. Finally, Barclays lifted their target price on Hanesbrands from $6.00 to $7.00 and gave the stock an "equal weight" rating in a report on Monday, November 11th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Hanesbrands presently has a consensus rating of "Hold" and an average target price of $7.10.

Hanesbrands Price Performance

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 firm has a fifty day simple moving average of $8.15 and a 200 day simple moving average of $7.46. The company has a market capitalization of $2.07 billion, a PE ratio of -8.90 and a beta of 1.63.

Hanesbrands (NYSE:HBI - Get Free Report) last posted its earnings results on Thursday, February 13th. The textile maker reported $0.17 EPS for the quarter, beating analysts' consensus estimates of $0.14 by $0.03. Hanesbrands had a negative net margin of 5.24% and a positive return on equity of 44.72%. The business had revenue of $888.47 million for the quarter, compared to the consensus estimate of $899.30 million. Equities analysts anticipate that Hanesbrands Inc. will post 0.39 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. GeoWealth Management LLC grew its stake in Hanesbrands by 2,278.8% in the fourth quarter. GeoWealth Management LLC now owns 3,473 shares of the textile maker's stock valued at $28,000 after purchasing an additional 3,327 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in Hanesbrands by 122.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 4,920 shares of the textile maker's stock valued at $40,000 after acquiring an additional 2,712 shares in the last quarter. Blue Trust Inc. increased its position in shares of Hanesbrands by 42.3% during the third quarter. Blue Trust Inc. now owns 5,359 shares of the textile maker's stock worth $39,000 after purchasing an additional 1,594 shares in the last quarter. Transce3nd LLC acquired a new stake in shares of Hanesbrands in the 4th quarter worth $45,000. Finally, WFA Asset Management Corp purchased a new position in Hanesbrands during the 4th quarter worth $46,000. 80.31% of the stock is 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.