Hanesbrands (NYSE:HBI) Shares Down 4.1% - Time to Sell?

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

Analyst Ratings Changes

Several brokerages recently weighed in on HBI. Barclays lifted their price objective on shares of 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 upgraded shares of 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 note on Tuesday, November 26th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $6.90.

Hanesbrands Stock Performance

The stock has a 50 day moving average of $7.89 and a 200 day moving average of $6.55. The company has a quick ratio of 0.90, a current ratio of 1.49 and a debt-to-equity ratio of 21.50. The company has a market capitalization of $3.01 billion, a price-to-earnings ratio of -12.93 and a beta of 1.64.

Hanesbrands (NYSE:HBI - Get Free Report) last released its quarterly earnings data on Thursday, November 7th. The textile maker reported $0.15 EPS for the quarter, beating the consensus estimate of $0.11 by $0.04. Hanesbrands had a positive return on equity of 44.72% and a negative net margin of 5.24%. 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 company's quarterly revenue was down 2.5% on a year-over-year basis. As a group, analysts predict that Hanesbrands Inc. will post 0.39 EPS for the current year.

Institutional Trading of Hanesbrands

Several hedge funds and other institutional investors have recently modified their holdings of HBI. Cetera Advisors LLC increased its holdings in Hanesbrands by 233.4% during the 1st quarter. Cetera Advisors LLC now owns 35,481 shares of the textile maker's stock worth $206,000 after acquiring an additional 24,839 shares during the period. Fifth Third Wealth Advisors LLC purchased a new position in Hanesbrands in the 2nd quarter worth approximately $55,000. Louisiana State Employees Retirement System grew its stake in Hanesbrands by 2.0% in the 2nd quarter. Louisiana State Employees Retirement System now owns 176,900 shares of the textile maker's stock worth $872,000 after buying an additional 3,500 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Hanesbrands by 2.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,810,295 shares of the textile maker's stock worth $13,855,000 after buying an additional 61,041 shares in the last quarter. Finally, Alpha Omega Wealth Management LLC grew its stake in Hanesbrands by 1.3% in the 2nd quarter. Alpha Omega Wealth Management LLC now owns 157,903 shares of the textile maker's stock worth $778,000 after buying an additional 2,072 shares in the last quarter. Institutional investors own 80.31% of the company's stock.

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.