Hanesbrands (NYSE:HBI) Shares Gap Down – What’s Next?

Shares of 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.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on HBI. Barclays upped their target price 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 raised Hanesbrands from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $9.00 to $11.00 in a report on Tuesday, November 26th. Four equities 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, Hanesbrands has a consensus rating of “Hold” and an average price target of $6.90.

Hanesbrands Price Performance

The company’s 50-day simple moving average is $8.25 and its 200-day simple moving average is $7.45. The company has a debt-to-equity ratio of 21.50, a quick ratio of 0.90 and a current ratio of 1.49. The company has a market capitalization of $2.21 billion, a PE ratio of -9.55 and a beta of 1.63.

Hanesbrands (NYSE:HBI) last issued its quarterly earnings results 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. Hanesbrands had a positive return on equity of 44.72% and a negative net margin of 5.24%. As a group, sell-side analysts anticipate that Hanesbrands Inc. will post 0.39 earnings per share for the current year.

Hedge Funds Weigh In On Hanesbrands

Several institutional investors have recently bought and sold shares of the company. Blue Trust Inc. boosted its holdings in shares of Hanesbrands by 42.3% in the third quarter. Blue Trust Inc. now owns 5,359 shares of the textile maker’s stock valued at $39,000 after acquiring an additional 1,594 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in Hanesbrands by 122.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 4,920 shares of the textile maker’s stock valued at $40,000 after purchasing an additional 2,712 shares during the period. WFA Asset Management Corp purchased a new stake in Hanesbrands in the 4th quarter valued at approximately $46,000. Whittier Trust Co. purchased a new stake in Hanesbrands in the 3rd quarter valued at approximately $51,000. Finally, GAMMA Investing LLC increased its position in Hanesbrands by 39.7% during the 4th quarter. GAMMA Investing LLC now owns 6,669 shares of the textile maker’s stock worth $54,000 after purchasing an additional 1,895 shares during the period. 80.31% of the stock is owned by institutional investors and hedge funds.

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.