Hanesbrands (NYSE:HBI) Shares Down 17.6% – Here’s What Happened

Hanesbrands Inc. (NYSE:HBI)’s share price was down 17.6% on Thursday . The company traded as low as $4.85 and last traded at $4.91. Approximately 7,305,398 shares traded hands during trading, an increase of 4% from the average daily volume of 7,020,810 shares. The stock had previously closed at $5.95.

Analysts Set New Price Targets

Separately, Stifel Nicolaus restated a “hold” rating and issued a $7.00 target price (down previously from $8.00) on shares of Hanesbrands in a report on Friday, February 14th.

Hanesbrands Price Performance

The firm has a market capitalization of $1.65 billion, a PE ratio of -5.07 and a beta of 1.55. 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 firm has a 50-day simple moving average of $6.45 and a 200-day simple moving average of $7.38.

Hanesbrands (NYSE:HBI) last posted its quarterly earnings data on Thursday, February 13th. The textile maker reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.03. Hanesbrands had a negative net margin of 8.06% and a positive return on equity of 108.01%. The company had revenue of $888.47 million for the quarter, compared to the consensus estimate of $899.30 million. As a group, equities analysts forecast that Hanesbrands Inc. will post 0.53 earnings per share for the current year.

Insider Transactions at Hanesbrands

In related news, Director Robert F. Moran acquired 74,850 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was bought at an average cost of $6.01 per share, for a total transaction of $449,848.50. Following the purchase, the director now owns 216,373 shares in the company, valued at $1,300,401.73. The trade was a 52.89 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.46% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Hanesbrands

A number of hedge funds have recently modified their holdings of the company. Principal Financial Group Inc. lifted its stake in shares of Hanesbrands by 3.2% during the 4th quarter. Principal Financial Group Inc. now owns 1,720,247 shares of the textile maker’s stock valued at $14,003,000 after buying an additional 53,995 shares in the last quarter. FMR LLC lifted its position in shares of Hanesbrands by 203.5% in the third quarter. FMR LLC now owns 115,833 shares of the textile maker’s stock valued at $851,000 after acquiring an additional 77,669 shares in the last quarter. Alberta Investment Management Corp lifted its position in shares of Hanesbrands by 31.4% in the fourth quarter. Alberta Investment Management Corp now owns 398,423 shares of the textile maker’s stock valued at $3,243,000 after acquiring an additional 95,177 shares in the last quarter. Hennessy Advisors Inc. purchased a new stake in shares of Hanesbrands during the fourth quarter worth about $62,199,000. Finally, Taika Capital LP bought a new stake in Hanesbrands during the 4th quarter valued at approximately $1,054,000. 80.31% of the stock is currently owned by institutional investors.

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.