Stifel Nicolaus Cuts Hanesbrands (NYSE:HBI) Price Target to $5.00

Hanesbrands (NYSE:HBI) had its price target reduced by Stifel Nicolaus from $7.00 to $5.00 in a report released on Thursday,Benzinga reports. The firm presently has a “hold” rating on the textile maker’s stock. Stifel Nicolaus’ price target points to a potential upside of 14.03% from the company’s current price.

Hanesbrands Price Performance

HBI stock traded down $0.48 during trading on Thursday, hitting $4.39. The company had a trading volume of 1,708,184 shares, compared to its average volume of 7,129,008. The company has a fifty day moving average price of $6.08 and a two-hundred day moving average price of $7.30. The company has a current ratio of 1.37, a quick ratio of 0.68 and a debt-to-equity ratio of 64.28. The company has a market cap of $1.55 billion, a P/E ratio of -4.77 and a beta of 1.55. Hanesbrands has a fifty-two week low of $4.02 and a fifty-two week high of $9.10.

Hanesbrands (NYSE:HBI) last announced its quarterly earnings results on Thursday, February 13th. The textile maker reported $0.17 EPS for the quarter, beating the consensus estimate of $0.14 by $0.03. Hanesbrands had a positive return on equity of 108.01% and a negative net margin of 8.06%. The business had revenue of $888.47 million for the quarter, compared to analyst estimates of $899.30 million. Equities research analysts expect that Hanesbrands will post 0.53 earnings per share for the current fiscal year.

Insider Transactions at Hanesbrands

In other news, Director Robert F. Moran bought 74,850 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was bought at an average price of $6.01 per share, for a total transaction of $449,848.50. Following the completion of the transaction, the director now directly owns 216,373 shares in the company, valued at $1,300,401.73. The trade was a 52.89 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.46% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in Hanesbrands by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 40,034,878 shares of the textile maker’s stock valued at $325,884,000 after acquiring an additional 421,915 shares during the period. Ameriprise Financial Inc. boosted its position in shares of Hanesbrands by 28.2% during the fourth quarter. Ameriprise Financial Inc. now owns 9,951,948 shares of the textile maker’s stock worth $81,009,000 after buying an additional 2,189,844 shares during the period. Geode Capital Management LLC boosted its position in shares of Hanesbrands by 1.1% during the third quarter. Geode Capital Management LLC now owns 7,914,447 shares of the textile maker’s stock worth $58,183,000 after buying an additional 89,367 shares during the period. Hennessy Advisors Inc. acquired a new position in Hanesbrands during the fourth quarter valued at approximately $62,199,000. Finally, Dimensional Fund Advisors LP boosted its position in Hanesbrands by 2.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 6,909,654 shares of the textile maker’s stock valued at $56,245,000 after purchasing an additional 171,918 shares during the last quarter. 80.31% of the stock is owned by institutional investors and hedge funds.

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.