Hanesbrands (NYSE:HBI) Stock Price Down 3.4%

Hanesbrands Inc. (NYSE:HBI)’s stock price dropped 3.4% during trading on Monday . The company traded as low as $6.69 and last traded at $6.74. Approximately 760,287 shares were traded during mid-day trading, a decline of 91% from the average daily volume of 8,175,955 shares. The stock had previously closed at $6.98.

Analysts Set New Price Targets

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

Hanesbrands Stock Down 4.3 %

The company has a current ratio of 1.46, a quick ratio of 0.86 and a debt-to-equity ratio of 50.06. The stock has a market capitalization of $2.35 billion, a PE ratio of -116.33 and a beta of 1.57. The stock’s fifty day simple moving average is $6.07 and its 200-day simple moving average is $5.38.

Hanesbrands (NYSE:HBI) last released its quarterly earnings results on Thursday, August 8th. The textile maker reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.05. Hanesbrands had a negative net margin of 6.02% and a positive return on equity of 33.23%. The business had revenue of $995.40 million for the quarter, compared to analysts’ expectations of $1.35 billion. During the same period in the previous year, the company earned ($0.01) earnings per share. The firm’s revenue for the quarter was down 3.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Hanesbrands Inc. will post 0.35 EPS for the current fiscal year.

Institutional Trading of Hanesbrands

Several hedge funds have recently added to or reduced their stakes in HBI. Concord Wealth Partners boosted its position in Hanesbrands by 220.3% during the first quarter. Concord Wealth Partners now owns 5,260 shares of the textile maker’s stock worth $31,000 after purchasing an additional 3,618 shares during the period. Tradewinds Capital Management LLC bought a new stake in Hanesbrands during the 1st quarter valued at $35,000. Rothschild Investment LLC bought a new stake in Hanesbrands during the 2nd quarter valued at $39,000. Hollencrest Capital Management purchased a new stake in shares of Hanesbrands during the first quarter worth $41,000. Finally, Future Financial Wealth Managment LLC bought a new position in shares of Hanesbrands in the first quarter worth $44,000. 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.