Envestnet Asset Management Inc. Acquires 43,348 Shares of Hanesbrands Inc. $HBI

Envestnet Asset Management Inc. grew its holdings in shares of Hanesbrands Inc. (NYSE:HBI) by 15.6% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 320,724 shares of the textile maker’s stock after acquiring an additional 43,348 shares during the quarter. Envestnet Asset Management Inc. owned 0.09% of Hanesbrands worth $1,469,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Strs Ohio bought a new position in shares of Hanesbrands during the 1st quarter valued at $38,000. AlphaQuest LLC purchased a new stake in Hanesbrands during the first quarter valued at about $44,000. Jefferies Financial Group Inc. purchased a new stake in Hanesbrands during the first quarter valued at about $58,000. Tranquilli Financial Advisor LLC bought a new position in shares of Hanesbrands during the first quarter valued at about $58,000. Finally, Kapitalo Investimentos Ltda purchased a new position in shares of Hanesbrands in the first quarter worth about $61,000. 80.31% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

HBI has been the subject of several analyst reports. Wells Fargo & Company upgraded Hanesbrands from a “strong sell” rating to an “equal weight” rating and increased their target price for the company from $5.00 to $6.00 in a report on Thursday, August 14th. Weiss Ratings reissued a “hold (c-)” rating on shares of Hanesbrands in a research note on Wednesday, October 8th. Citigroup lifted their target price on shares of Hanesbrands from $5.50 to $7.00 and gave the stock a “neutral” rating in a research note on Thursday, October 23rd. Wall Street Zen upgraded shares of Hanesbrands from a “hold” rating to a “strong-buy” rating in a report on Saturday, August 9th. Finally, UBS Group raised their price target on shares of Hanesbrands from $8.00 to $9.00 and gave the stock a “buy” rating in a report on Friday, August 8th. One analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $6.60.

Hanesbrands Stock Performance

NYSE:HBI opened at $6.47 on Thursday. The company has a quick ratio of 0.71, a current ratio of 1.51 and a debt-to-equity ratio of 4.94. The firm’s fifty day simple moving average is $6.64 and its 200 day simple moving average is $5.64. The stock has a market cap of $2.29 billion, a P/E ratio of 7.03 and a beta of 1.50. Hanesbrands Inc. has a twelve month low of $3.96 and a twelve month high of $9.10.

Hanesbrands (NYSE:HBI) last posted its earnings results on Thursday, November 6th. The textile maker reported $0.15 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.01). Hanesbrands had a return on equity of 129.43% and a net margin of 9.34%.The company had revenue of $891.68 million during the quarter, compared to analysts’ expectations of $905.37 million. During the same period in the prior year, the business posted $0.15 earnings per share. The company’s revenue for the quarter was down 1.0% on a year-over-year basis. As a group, research analysts predict 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.