HighTower Advisors LLC Sells 6,647 Shares of Hanesbrands Inc. (NYSE:HBI)

HighTower Advisors LLC lowered its stake in Hanesbrands Inc. (NYSE:HBI) by 17.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,184 shares of the textile maker’s stock after selling 6,647 shares during the period. HighTower Advisors LLC’s holdings in Hanesbrands were worth $236,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Rothschild Investment LLC purchased a new stake in shares of Hanesbrands during the second quarter valued at $39,000. Blue Trust Inc. boosted its stake in Hanesbrands by 42.3% in the 3rd 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. Intech Investment Management LLC acquired a new position in shares of Hanesbrands in the second quarter valued at about $51,000. Whittier Trust Co. purchased a new stake in Hanesbrands in the third quarter valued at $51,000. Finally, Drucker Wealth 3.0 LLC acquired a new stake in shares of Hanesbrands during the 2nd quarter worth approximately $57,000. 80.31% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on HBI shares. UBS Group raised Hanesbrands from a “neutral” rating to a “buy” rating and raised their price objective for the company from $9.00 to $11.00 in a report on Tuesday, November 26th. Barclays raised their target price on Hanesbrands from $6.00 to $7.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $6.90.

Hanesbrands Stock Performance

NYSE:HBI opened at $8.35 on Wednesday. The firm has a market capitalization of $2.94 billion, a price-to-earnings ratio of -12.65 and a beta of 1.63. Hanesbrands Inc. has a 1-year low of $3.88 and a 1-year high of $9.10. The company has a debt-to-equity ratio of 21.50, a current ratio of 1.49 and a quick ratio of 0.90. The company’s 50-day moving average is $7.98 and its two-hundred day moving average is $6.66.

Hanesbrands (NYSE:HBI) last posted its earnings results on Thursday, November 7th. The textile maker reported $0.15 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $936.47 million. During the same quarter in the prior year, the company earned $0.10 EPS. Hanesbrands’s revenue was down 2.5% on a year-over-year basis. Analysts forecast that Hanesbrands Inc. will post 0.39 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.