70,520 Shares in Hanesbrands Inc. (NYSE:HBI) Bought by Bridges Investment Management Inc.

Bridges Investment Management Inc. purchased a new position in Hanesbrands Inc. (NYSE:HBI) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 70,520 shares of the textile maker’s stock, valued at approximately $348,000.

Other institutional investors also recently bought and sold shares of the company. Concord Wealth Partners lifted its position in Hanesbrands by 220.3% in the first quarter. Concord Wealth Partners now owns 5,260 shares of the textile maker’s stock worth $31,000 after buying an additional 3,618 shares during the last quarter. Tradewinds Capital Management LLC purchased a new stake in Hanesbrands in the first quarter worth $35,000. Hollencrest Capital Management purchased a new stake in Hanesbrands in the first quarter worth $41,000. Future Financial Wealth Managment LLC purchased a new stake in Hanesbrands in the first quarter worth $44,000. Finally, Rothschild Investment LLC purchased a new stake in Hanesbrands in the second quarter worth $39,000. 80.31% of the stock is currently owned by institutional investors.

Hanesbrands Stock Performance

Shares of Hanesbrands stock opened at $6.98 on Friday. The firm has a market cap of $2.45 billion, a P/E ratio of -116.33 and a beta of 1.57. The company has a current ratio of 1.46, a quick ratio of 0.86 and a debt-to-equity ratio of 50.06. Hanesbrands Inc. has a 12 month low of $3.54 and a 12 month high of $7.06. The stock’s fifty day moving average price is $6.07 and its 200-day moving average price is $5.38.

Hanesbrands (NYSE:HBI) last announced its quarterly earnings results on Thursday, August 8th. The textile maker reported $0.15 EPS for the quarter, beating the consensus estimate of $0.10 by $0.05. The firm had revenue of $995.40 million for the quarter, compared to analyst estimates of $1.35 billion. Hanesbrands had a positive return on equity of 33.23% and a negative net margin of 6.02%. The business’s revenue for the quarter was down 3.8% on a year-over-year basis. During the same quarter last year, the firm posted ($0.01) earnings per share. On average, equities research analysts expect that Hanesbrands Inc. will post 0.35 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have weighed in on HBI. UBS Group increased their target price on Hanesbrands from $5.00 to $6.50 and gave the stock a “neutral” rating in a research note on Tuesday, August 27th. Wedbush reiterated a “neutral” rating and issued a $5.00 target price on shares of Hanesbrands in a research note on Thursday, June 6th. Stifel Nicolaus increased their target price on Hanesbrands from $4.50 to $6.00 and gave the stock a “hold” rating in a research note on Monday, August 12th. Finally, Barclays increased their target price on Hanesbrands from $5.00 to $6.00 and gave the stock an “equal weight” rating in a research note on Monday, August 12th. Six equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $5.80.

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.