Insider Buying: Hanesbrands Inc. (NYSE:HBI) Director Purchases 74,850 Shares of Stock

Hanesbrands Inc. (NYSE:HBI) Director Robert F. Moran acquired 74,850 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were acquired at an average cost of $6.01 per share, for a total transaction of $449,848.50. Following the completion of the acquisition, the director now owns 216,373 shares of the company’s stock, valued at approximately $1,300,401.73. The trade was a 52.89 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Hanesbrands Price Performance

NYSE:HBI traded up $0.23 during trading hours on Tuesday, hitting $6.11. 12,191,091 shares of the company’s stock traded hands, compared to its average volume of 6,459,680. The firm has a market cap of $2.15 billion, a P/E ratio of -9.25 and a beta of 1.63. Hanesbrands Inc. has a 52 week low of $4.16 and a 52 week high of $9.10. The business’s fifty day simple moving average is $8.10 and its two-hundred day simple moving average is $7.46. The company has a quick ratio of 0.90, a current ratio of 1.49 and a debt-to-equity ratio of 21.50.

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, beating the consensus estimate of $0.14 by $0.03. The company had revenue of $888.47 million during the quarter, compared to analyst estimates of $899.30 million. Hanesbrands had a positive return on equity of 44.72% and a negative net margin of 5.24%. On average, research analysts anticipate that Hanesbrands Inc. will post 0.39 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Hanesbrands

Several hedge funds have recently added to or reduced their stakes in HBI. GeoWealth Management LLC lifted its stake in Hanesbrands by 2,278.8% during the fourth quarter. GeoWealth Management LLC now owns 3,473 shares of the textile maker’s stock worth $28,000 after purchasing an additional 3,327 shares during the last quarter. Blue Trust Inc. lifted its stake in Hanesbrands by 42.3% during the third quarter. Blue Trust Inc. now owns 5,359 shares of the textile maker’s stock worth $39,000 after purchasing an additional 1,594 shares during the last quarter. Smartleaf Asset Management LLC lifted its stake in shares of Hanesbrands by 122.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 4,920 shares of the textile maker’s stock valued at $40,000 after acquiring an additional 2,712 shares during the last quarter. Transce3nd LLC bought a new stake in shares of Hanesbrands in the 4th quarter valued at about $45,000. Finally, WFA Asset Management Corp bought a new stake in shares of Hanesbrands in the 4th quarter valued at about $46,000. Institutional investors own 80.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on HBI shares. UBS Group raised shares of Hanesbrands from a “neutral” rating to a “buy” rating and upped their price objective for the company from $9.00 to $11.00 in a report on Tuesday, November 26th. Stifel Nicolaus reaffirmed a “hold” rating and set a $7.00 price objective (down from $8.00) on shares of Hanesbrands in a report on Friday. Finally, Barclays upped their price target on Hanesbrands from $6.00 to $7.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $7.10.

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.