Hanesbrands (NYSE:HBI) Trading Down 7.4%

Hanesbrands Inc. (NYSE:HBI)’s share price fell 7.4% on Thursday . The stock traded as low as $4.49 and last traded at $4.50. 3,361,730 shares traded hands during mid-day trading, a decline of 62% from the average session volume of 8,796,588 shares. The stock had previously closed at $4.86.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on HBI. Wedbush upped their target price on Hanesbrands from $4.50 to $5.00 and gave the company a “neutral” rating in a report on Wednesday, April 3rd. Citigroup increased their price objective on Hanesbrands from $4.50 to $5.50 and gave the company a “neutral” rating in a research note on Wednesday, April 3rd. Four analysts have rated the stock with a hold rating, According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $5.00.

Hanesbrands Price Performance

The company has a 50-day moving average of $5.12 and a two-hundred day moving average of $4.52. The stock has a market capitalization of $1.57 billion, a PE ratio of -91.20 and a beta of 1.58. The company has a debt-to-equity ratio of 7.72, a current ratio of 1.64 and a quick ratio of 0.65.

Hanesbrands (NYSE:HBI) last announced its earnings results on Thursday, February 15th. The textile maker reported $0.03 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.06). The company had revenue of $1.30 billion for 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 business’s quarterly revenue was down 12.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.07 earnings per share. Sell-side analysts predict that Hanesbrands Inc. will post 0.44 EPS for the current fiscal year.

Institutional Investors Weigh In On Hanesbrands

Hedge funds have recently bought and sold shares of the business. Tradewinds Capital Management LLC acquired a new stake in Hanesbrands during the 1st quarter valued at approximately $35,000. Future Financial Wealth Managment LLC acquired a new position in shares of Hanesbrands in the 1st quarter worth approximately $44,000. Northwest Investment Counselors LLC acquired a new position in shares of Hanesbrands in the 1st quarter worth approximately $51,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Hanesbrands in the 3rd quarter worth approximately $40,000. Finally, Alhambra Investment Management LLC acquired a new position in shares of Hanesbrands in the 4th quarter worth approximately $46,000. 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.