Hanesbrands Inc. (NYSE:HBI – Get Free Report) shares dropped 3.7% during trading on Monday . The stock traded as low as $5.18 and last traded at $5.20. Approximately 17,887,645 shares changed hands during mid-day trading, an increase of 125% from the average daily volume of 7,965,607 shares. The stock had previously closed at $5.40.
Wall Street Analyst Weigh In
Several equities research analysts recently issued reports on the company. Citigroup upped their price target on Hanesbrands from $4.50 to $5.50 and gave the company a “neutral” rating in a research report on Wednesday, April 3rd. Barclays increased their target price on shares of Hanesbrands from $4.00 to $5.00 and gave the stock an “equal weight” rating in a report on Friday, May 10th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $5.00 price target on shares of Hanesbrands in a report on Thursday, June 6th. Five equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $5.00.
Hanesbrands Stock Performance
The company has a debt-to-equity ratio of 9.57, a quick ratio of 0.62 and a current ratio of 1.59. The stock has a 50 day moving average of $5.01 and a 200 day moving average of $4.87. The stock has a market capitalization of $1.85 billion, a P/E ratio of -88.00 and a beta of 1.59.
Hanesbrands (NYSE:HBI – Get Free Report) last released its quarterly earnings results on Thursday, May 9th. The textile maker reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.06) by $0.04. The business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.19 billion. Hanesbrands had a negative net margin of 0.42% and a positive return on equity of 9.84%. The company’s quarterly revenue was down 16.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.06) earnings per share. Equities analysts predict that Hanesbrands Inc. will post 0.46 EPS for the current year.
Institutional Trading of Hanesbrands
Several hedge funds have recently added to or reduced their stakes in HBI. SG Americas Securities LLC increased its stake in Hanesbrands by 1,211.6% during the 2nd quarter. SG Americas Securities LLC now owns 278,326 shares of the textile maker’s stock valued at $1,372,000 after buying an additional 257,105 shares during the period. O Keefe Stevens Advisory Inc. acquired a new position in shares of Hanesbrands during the second quarter valued at approximately $57,000. CWM LLC raised its holdings in Hanesbrands by 25.6% during the second quarter. CWM LLC now owns 34,283 shares of the textile maker’s stock worth $169,000 after purchasing an additional 6,998 shares in the last quarter. Bard Financial Services Inc. lifted its position in Hanesbrands by 3.3% in the second quarter. Bard Financial Services Inc. now owns 975,415 shares of the textile maker’s stock worth $4,809,000 after purchasing an additional 30,800 shares during the period. Finally, Keynote Financial Services LLC bought a new position in Hanesbrands during the 1st quarter valued at $370,000. 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.