Hanesbrands (NYSE:HBI) Hits New 1-Year Low After Analyst Downgrade

Shares of Hanesbrands Inc. (NYSE:HBI) hit a new 52-week low during mid-day trading on Thursday after Stifel Nicolaus lowered their price target on the stock from $7.00 to $5.00. Stifel Nicolaus currently has a hold rating on the stock. Hanesbrands traded as low as $4.02 and last traded at $4.86, with a volume of 18783103 shares changing hands. The stock had previously closed at $4.35.

Insider Transactions at Hanesbrands

In related news, Director Robert F. Moran purchased 74,850 shares of the stock in a transaction dated Tuesday, February 18th. The stock was bought at an average cost of $6.01 per share, with a total value of $449,848.50. Following the purchase, 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 purchase was disclosed in a document filed with the SEC, which is available at this link. 0.46% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Principal Financial Group Inc. lifted its holdings in Hanesbrands by 3.2% during the fourth quarter. Principal Financial Group Inc. now owns 1,720,247 shares of the textile maker’s stock worth $14,003,000 after acquiring an additional 53,995 shares in the last quarter. Trexquant Investment LP lifted its holdings in shares of Hanesbrands by 395.1% during the 4th quarter. Trexquant Investment LP now owns 548,724 shares of the textile maker’s stock valued at $4,467,000 after purchasing an additional 437,895 shares in the last quarter. FMR LLC grew its position in shares of Hanesbrands by 203.5% in the 3rd quarter. FMR LLC now owns 115,833 shares of the textile maker’s stock valued at $851,000 after purchasing an additional 77,669 shares during the period. Schroder Investment Management Group bought a new stake in Hanesbrands during the 4th quarter worth approximately $980,000. Finally, Alberta Investment Management Corp raised its holdings in Hanesbrands by 31.4% during the 4th quarter. Alberta Investment Management Corp now owns 398,423 shares of the textile maker’s stock worth $3,243,000 after buying an additional 95,177 shares during the period. Institutional investors own 80.31% of the company’s stock.

Hanesbrands Stock Performance

The stock’s 50 day simple moving average is $6.01 and its two-hundred day simple moving average is $7.29. The company has a debt-to-equity ratio of 64.28, a current ratio of 1.37 and a quick ratio of 0.68. The stock has a market cap of $1.54 billion, a P/E ratio of -4.76 and a beta of 1.55.

Hanesbrands (NYSE:HBI) last posted its quarterly earnings data on Thursday, February 13th. The textile maker reported $0.17 EPS for the quarter, beating the consensus estimate of $0.14 by $0.03. The business had revenue of $888.47 million for 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%. As a group, research analysts forecast that Hanesbrands Inc. will post 0.53 EPS for the current year.

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.