Hanesbrands (NYSE:HBI) Shares Down 7.4%

Shares of Hanesbrands Inc. (NYSE:HBI) dropped 7.4% on Thursday . The stock traded as low as $4.49 and last traded at $4.50. Approximately 3,361,730 shares traded hands 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 Ratings Changes

HBI has been the subject of several recent research reports. Citigroup lifted their price target on Hanesbrands from $4.50 to $5.50 and gave the company a “neutral” rating in a research report on Wednesday, April 3rd. Wedbush lifted their price target on Hanesbrands from $4.50 to $5.00 and gave the company a “neutral” rating in a research report on Wednesday, April 3rd. Four equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, Hanesbrands has an average rating of “Hold” and a consensus target price of $5.00.

Hanesbrands Price Performance

The firm has a market capitalization of $1.57 billion, a PE ratio of -89.58 and a beta of 1.58. The stock has a 50-day moving average price of $5.12 and a 200 day moving average price of $4.52. 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 data on Thursday, February 15th. The textile maker reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.06). The business had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.36 billion. Hanesbrands had a negative net margin of 0.31% and a positive return on equity of 5.84%. The firm’s quarterly revenue was down 12.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.07 earnings per share. Equities analysts forecast that Hanesbrands Inc. will post 0.44 EPS for the current fiscal year.

Institutional Trading of Hanesbrands

A number of institutional investors have recently made changes to their positions in the company. Global Retirement Partners LLC boosted its stake in Hanesbrands by 25.6% during the first quarter. Global Retirement Partners LLC now owns 103,508 shares of the textile maker’s stock worth $600,000 after buying an additional 21,080 shares during the last quarter. New Mexico Educational Retirement Board acquired a new position in Hanesbrands during the first quarter worth $421,000. Norden Group LLC acquired a new position in Hanesbrands during the first quarter worth $60,000. Tradewinds Capital Management LLC acquired a new position in Hanesbrands during the first quarter worth $35,000. Finally, Red Door Wealth Management LLC acquired a new position in Hanesbrands during the first quarter worth $131,000. 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.