Hanesbrands (NYSE:HBI) Shares Down 4.1% – Should You Sell?

Hanesbrands Inc. (NYSE:HBI) shares traded down 4.1% during trading on Monday . The company traded as low as $8.31 and last traded at $8.35. 700,876 shares changed hands during trading, a decline of 91% from the average session volume of 7,591,448 shares. The stock had previously closed at $8.71.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Barclays raised their target price on Hanesbrands from $6.00 to $7.00 and gave the stock an “equal weight” rating in a research report on Monday, November 11th. UBS Group upgraded shares of Hanesbrands from a “neutral” rating to a “buy” rating and upped their price target for the stock from $9.00 to $11.00 in a research report on Tuesday, November 26th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Hanesbrands currently has a consensus rating of “Hold” and a consensus price target of $6.90.

Hanesbrands Stock Performance

The company has a quick ratio of 0.90, a current ratio of 1.49 and a debt-to-equity ratio of 21.50. The firm has a market cap of $3.00 billion, a P/E ratio of -12.88 and a beta of 1.64. The firm has a fifty day moving average of $7.89 and a 200-day moving average of $6.55.

Hanesbrands (NYSE:HBI) last posted its quarterly earnings results on Thursday, November 7th. The textile maker reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.04. Hanesbrands had a positive return on equity of 44.72% and a negative net margin of 5.24%. The company had revenue of $937.10 million for the quarter, compared to the consensus estimate of $936.47 million. During the same quarter in the prior year, the business posted $0.10 EPS. The firm’s quarterly revenue was down 2.5% on a year-over-year basis. Research analysts predict that Hanesbrands Inc. will post 0.39 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Hanesbrands

Several institutional investors and hedge funds have recently made changes to their positions in the company. Loews Corp raised its stake in Hanesbrands by 108.7% in the 2nd quarter. Loews Corp now owns 29,197,796 shares of the textile maker’s stock valued at $143,945,000 after acquiring an additional 15,206,007 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Hanesbrands by 18.2% in the second quarter. Dimensional Fund Advisors LP now owns 6,661,235 shares of the textile maker’s stock valued at $32,836,000 after acquiring an additional 1,024,308 shares in the last quarter. Verition Fund Management LLC bought a new position in Hanesbrands during the third quarter worth about $7,249,000. BNP Paribas Financial Markets boosted its holdings in Hanesbrands by 388.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 742,314 shares of the textile maker’s stock valued at $5,456,000 after purchasing an additional 590,493 shares during the period. Finally, Squarepoint Ops LLC grew its position in shares of Hanesbrands by 193.4% during the 2nd quarter. Squarepoint Ops LLC now owns 834,104 shares of the textile maker’s stock worth $4,112,000 after purchasing an additional 549,855 shares in the last quarter. Institutional investors and hedge funds own 80.31% of the company’s stock.

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.