Hanesbrands (NYSE:HBI) Shares Down 17.6% - What's Next?

Hanesbrands Inc. (NYSE:HBI - Get Free Report) traded down 17.6% during mid-day trading on Thursday . The stock traded as low as $4.85 and last traded at $4.91. 7,305,398 shares changed hands during mid-day trading, an increase of 4% from the average session volume of 7,020,810 shares. The stock had previously closed at $5.95.

Wall Street Analyst Weigh In

Separately, Stifel Nicolaus reissued a "hold" rating and set a $7.00 target price (down from $8.00) on shares of Hanesbrands in a research note on Friday, February 14th.

Hanesbrands Stock Performance

The stock has a 50 day simple moving average of $6.22 and a two-hundred day simple moving average of $7.33. The company has a market capitalization of $1.53 billion, a price-to-earnings ratio of -4.72 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 posted its earnings results on Thursday, February 13th. The textile maker reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.03. The firm had revenue of $888.47 million during the quarter, compared to analysts' expectations of $899.30 million. Hanesbrands had a positive return on equity of 108.01% and a negative net margin of 8.06%. As a group, analysts anticipate that Hanesbrands Inc. will post 0.53 earnings per share for the current year.

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Insider Activity at Hanesbrands

In other news, Director Robert F. Moran bought 74,850 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The stock was purchased at an average cost of $6.01 per share, with a total value of $449,848.50. Following the transaction, the director now directly owns 216,373 shares in the company, valued at $1,300,401.73. This trade represents a 52.89 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.46% of the company's stock.

Institutional Investors Weigh In On Hanesbrands

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. GeoWealth Management LLC grew its position in shares of Hanesbrands by 2,278.8% during the fourth quarter. GeoWealth Management LLC now owns 3,473 shares of the textile maker's stock worth $28,000 after acquiring an additional 3,327 shares during the last quarter. Smartleaf Asset Management LLC grew its position in Hanesbrands by 122.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 4,920 shares of the textile maker's stock worth $40,000 after purchasing an additional 2,712 shares during the last quarter. Transce3nd LLC acquired a new position in Hanesbrands in the fourth quarter valued at $45,000. WFA Asset Management Corp purchased a new stake in shares of Hanesbrands in the fourth quarter valued at about $46,000. Finally, GAMMA Investing LLC boosted its stake in shares of Hanesbrands by 39.7% during the fourth quarter. GAMMA Investing LLC now owns 6,669 shares of the textile maker's stock worth $54,000 after buying an additional 1,895 shares during the period. Hedge funds and other institutional investors own 80.31% of the company's stock.

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.