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

Hanesbrands Inc. (NYSE:HBI) gapped down before the market opened on Thursday . The stock had previously closed at $7.67, but opened at $6.10. Hanesbrands shares last traded at $6.28, with a volume of 5,925,687 shares traded.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on HBI. Barclays upped their price objective on shares of Hanesbrands from $6.00 to $7.00 and gave the company an “equal weight” rating in a report on Monday, November 11th. UBS Group upgraded shares of Hanesbrands from a “neutral” rating to a “buy” rating and raised their price target for the stock from $9.00 to $11.00 in a report on Tuesday, November 26th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $6.90.

Hanesbrands Stock Down 18.2 %

The company has a market capitalization of $2.21 billion, a PE ratio of -9.55 and a beta of 1.63. The company has a current ratio of 1.49, a quick ratio of 0.90 and a debt-to-equity ratio of 21.50. The business has a fifty day moving average of $8.25 and a 200 day moving average of $7.45.

Hanesbrands (NYSE:HBI) last released its earnings results 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 5.24% and a positive return on equity of 44.72%. Equities research analysts anticipate that Hanesbrands Inc. will post 0.39 EPS for the current year.

Institutional Trading of Hanesbrands

A number of large investors have recently made changes to their positions in HBI. Sanctuary Advisors LLC acquired a new stake in shares of Hanesbrands in the 2nd quarter valued at $321,000. Creative Planning increased its holdings in Hanesbrands by 22.5% in the third quarter. Creative Planning now owns 152,998 shares of the textile maker’s stock valued at $1,125,000 after buying an additional 28,126 shares during the last quarter. ERTS Wealth Advisors LLC acquired a new stake in Hanesbrands in the third quarter valued at $76,000. Blue Trust Inc. lifted its holdings in Hanesbrands by 42.3% during the 3rd quarter. Blue Trust Inc. now owns 5,359 shares of the textile maker’s stock worth $39,000 after buying an additional 1,594 shares during the last quarter. Finally, Whittier Trust Co. acquired a new position in shares of Hanesbrands during the 3rd quarter worth about $51,000. 80.31% of the stock is currently owned by hedge funds and other 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.