Hanesbrands (NYSE:HBI) Shares Down 7.4%

Hanesbrands Inc. (NYSE:HBI) shares were down 7.4% during trading on Thursday . The stock traded as low as $4.49 and last traded at $4.50. Approximately 3,361,730 shares were traded during trading, a decline of 62% from the average daily volume of 8,796,588 shares. The stock had previously closed at $4.86.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on HBI shares. Citigroup raised their target price on shares of Hanesbrands from $4.50 to $5.50 and gave the stock a “neutral” rating in a report on Wednesday, April 3rd. Wedbush raised their target price on shares of Hanesbrands from $4.50 to $5.00 and gave the stock a “neutral” rating in a report on Wednesday, April 3rd. Four research analysts have rated the stock with a hold rating, According to MarketBeat, Hanesbrands currently has a consensus rating of “Hold” and an average price target of $5.00.

Hanesbrands Price Performance

The business’s 50 day moving average is $5.12 and its two-hundred day moving average is $4.52. The firm has a market cap of $1.57 billion, a P/E ratio of -91.20 and a beta of 1.58. The company has a quick ratio of 0.65, a current ratio of 1.64 and a debt-to-equity ratio of 7.72.

Hanesbrands (NYSE:HBI) last posted its quarterly earnings results on Thursday, February 15th. The textile maker reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.06). Hanesbrands had a negative net margin of 0.31% and a positive return on equity of 5.84%. The company had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same period last year, the firm posted $0.07 earnings per share. The company’s revenue for the quarter was down 12.0% on a year-over-year basis. As a group, analysts anticipate that Hanesbrands Inc. will post 0.44 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Hanesbrands by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 38,903,759 shares of the textile maker’s stock valued at $173,511,000 after purchasing an additional 597,523 shares during the period. Loews Corp increased its holdings in Hanesbrands by 54.2% during the 4th quarter. Loews Corp now owns 16,500,000 shares of the textile maker’s stock worth $73,590,000 after acquiring an additional 5,800,000 shares during the period. New South Capital Management Inc. increased its holdings in Hanesbrands by 1.2% during the 3rd quarter. New South Capital Management Inc. now owns 8,171,107 shares of the textile maker’s stock worth $32,358,000 after acquiring an additional 96,636 shares during the period. Dimensional Fund Advisors LP increased its holdings in Hanesbrands by 12.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,749,433 shares of the textile maker’s stock worth $25,642,000 after acquiring an additional 632,865 shares during the period. Finally, Diamond Hill Capital Management Inc. increased its holdings in Hanesbrands by 4.0% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 4,437,284 shares of the textile maker’s stock worth $17,572,000 after acquiring an additional 169,552 shares during the period. 80.31% of the stock is currently 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.