Stifel Nicolaus Has Lowered Expectations for Hanesbrands (NYSE:HBI) Stock Price

Hanesbrands (NYSE:HBI) had its target price reduced by Stifel Nicolaus from $7.00 to $5.00 in a research note published on Thursday morning,Benzinga reports. They currently have a hold rating on the textile maker’s stock.

Hanesbrands Stock Down 8.3 %

HBI opened at $4.46 on Thursday. The firm has a 50-day simple moving average of $6.01 and a two-hundred day simple moving average of $7.29. Hanesbrands has a 52 week low of $4.02 and a 52 week high of $9.10. The company has a market capitalization of $1.57 billion, a PE ratio of -4.84 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 earnings results on Thursday, February 13th. The textile maker reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.03. The firm had revenue of $888.47 million for the quarter, compared to analysts’ expectations of $899.30 million. Hanesbrands had a positive return on equity of 108.01% and a negative net margin of 8.06%. Analysts forecast 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 acquired 74,850 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were acquired at an average cost of $6.01 per share, with a total value of $449,848.50. Following the completion of the acquisition, the director now owns 216,373 shares of the company’s stock, valued at approximately $1,300,401.73. This trade represents a 52.89 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.46% of the company’s stock.

Institutional Investors Weigh In On Hanesbrands

Hedge funds and other institutional investors have recently made changes to their positions in the company. Partnership Wealth Management LLC purchased a new stake in Hanesbrands during the 1st quarter valued at about $62,000. GAMMA Investing LLC raised its stake in Hanesbrands by 503.9% during the 1st quarter. GAMMA Investing LLC now owns 40,275 shares of the textile maker’s stock worth $2,320,000 after acquiring an additional 33,606 shares in the last quarter. Howard Financial Services LTD. raised its position in Hanesbrands by 89.8% in the 1st quarter. Howard Financial Services LTD. now owns 42,268 shares of the textile maker’s stock valued at $244,000 after purchasing an additional 20,000 shares during the last quarter. Wellington Management Group LLP purchased a new position in Hanesbrands during the 4th quarter worth $7,922,000. Finally, 111 Capital acquired a new stake in Hanesbrands in the fourth quarter valued at $104,000. Institutional investors and hedge funds own 80.31% of the company’s stock.

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.