Hanesbrands (NYSE:HBI) Hits New 52-Week Low Following Analyst Downgrade

Hanesbrands Inc. (NYSE:HBI) shares reached a new 52-week low during mid-day trading 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 trading hands. 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 firm’s stock in a transaction on Tuesday, February 18th. The stock was bought at an average cost of $6.01 per share, for a total transaction of $449,848.50. Following the completion of the purchase, the director now directly owns 216,373 shares in the company, valued at approximately $1,300,401.73. The trade was a 52.89 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.46% of the stock is owned by insiders.

Hedge Funds Weigh In On Hanesbrands

Several hedge funds and other institutional investors have recently modified their holdings of HBI. GeoWealth Management LLC boosted 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 buying an additional 3,327 shares during the period. Smartleaf Asset Management LLC raised its stake in Hanesbrands by 122.8% during the 4th 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. Transce3nd LLC acquired a new position in Hanesbrands during the 4th quarter worth $45,000. WFA Asset Management Corp bought a new position in shares of Hanesbrands in the fourth quarter worth $46,000. Finally, GAMMA Investing LLC increased its holdings 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 valued at $54,000 after purchasing an additional 1,895 shares during the period. Institutional investors and hedge funds own 80.31% of the company’s stock.

Hanesbrands Trading Down 1.9 %

The firm has a market capitalization of $1.54 billion, a P/E ratio of -4.76 and a beta of 1.55. The business’s 50 day moving average is $6.01 and its two-hundred day moving average is $7.29. The company has a quick ratio of 0.68, a current ratio of 1.37 and a debt-to-equity ratio of 64.28.

Hanesbrands (NYSE:HBI) last released its quarterly earnings results on Thursday, February 13th. The textile maker reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.03. The company had revenue of $888.47 million for the quarter, compared to the consensus estimate of $899.30 million. Hanesbrands had a negative net margin of 8.06% and a positive return on equity of 108.01%. Analysts expect that Hanesbrands Inc. will post 0.53 EPS for the current year.

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.