Hanesbrands (NYSE:HBI) Stock Price Down 17.6% – What’s Next?

Hanesbrands Inc. (NYSE:HBI)’s stock price fell 17.6% during trading on Thursday . The stock traded as low as $4.85 and last traded at $4.91. 7,305,398 shares were traded during trading, an increase of 4% from the average session volume of 7,020,810 shares. The stock had previously closed at $5.95.

Wall Street Analyst Weigh In

Separately, Stifel Nicolaus reaffirmed a “hold” rating and set a $7.00 target price (down previously from $8.00) on shares of Hanesbrands in a report on Friday, February 14th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $7.10.

Hanesbrands Stock Performance

The company’s 50-day moving average is $6.52 and its two-hundred day moving average is $7.40. The company has a market capitalization of $1.74 billion, a P/E ratio of -5.34 and a beta of 1.55. 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 business had revenue of $888.47 million during the quarter, compared to analysts’ expectations of $899.30 million. Hanesbrands had a negative net margin of 8.06% and a positive return on equity of 108.01%. Equities analysts anticipate that Hanesbrands Inc. will post 0.53 earnings per share for the current fiscal year.

Insider Buying and Selling at Hanesbrands

In other news, Director Robert F. Moran bought 74,850 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was acquired at an average price of $6.01 per share, with a total value of $449,848.50. Following the completion of the purchase, the director now directly owns 216,373 shares in the company, valued at $1,300,401.73. This represents a 52.89 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.46% of the company’s stock.

Institutional Investors Weigh In On Hanesbrands

Hedge funds have recently made changes to their positions in the business. GeoWealth Management LLC grew its holdings in shares of Hanesbrands by 2,278.8% during the 4th quarter. GeoWealth Management LLC now owns 3,473 shares of the textile maker’s stock valued at $28,000 after purchasing an additional 3,327 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in shares of Hanesbrands by 122.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 4,920 shares of the textile maker’s stock worth $40,000 after buying an additional 2,712 shares during the period. Transce3nd LLC purchased a new stake in Hanesbrands during the 4th quarter valued at about $45,000. WFA Asset Management Corp bought a new position in Hanesbrands during the 4th quarter worth approximately $46,000. Finally, GAMMA Investing LLC increased its stake in Hanesbrands by 39.7% in the 4th quarter. GAMMA Investing LLC now owns 6,669 shares of the textile maker’s stock worth $54,000 after purchasing an additional 1,895 shares during the period. 80.31% of the stock is currently owned by institutional investors.

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.