Hanesbrands (NYSE:HBI) Stock Price Down 3.4%

Hanesbrands Inc. (NYSE:HBI) shares were down 3.4% during trading on Monday . The company traded as low as $6.69 and last traded at $6.74. Approximately 760,287 shares were traded during mid-day trading, a decline of 91% from the average daily volume of 8,175,955 shares. The stock had previously closed at $6.98.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on HBI. UBS Group upped their price target on Hanesbrands from $5.00 to $6.50 and gave the stock a “neutral” rating in a research note on Tuesday, August 27th. Barclays increased their price target on shares of Hanesbrands from $5.00 to $6.00 and gave the stock an “equal weight” rating in a research note on Monday, August 12th. Stifel Nicolaus boosted their price objective on shares of Hanesbrands from $4.50 to $6.00 and gave the stock a “hold” rating in a research note on Monday, August 12th. Finally, Wedbush reaffirmed a “neutral” rating and set a $5.00 target price on shares of Hanesbrands in a research note on Thursday, June 6th. Six equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $5.80.

Hanesbrands Price Performance

The company has a fifty day moving average of $6.14 and a 200 day moving average of $5.40. The company has a quick ratio of 0.86, a current ratio of 1.46 and a debt-to-equity ratio of 50.06.

Hanesbrands (NYSE:HBI) last announced its earnings results on Thursday, August 8th. The textile maker reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.05. The business had revenue of $995.40 million during the quarter, compared to analysts’ expectations of $1.35 billion. Hanesbrands had a negative net margin of 6.02% and a positive return on equity of 33.23%. The firm’s revenue was down 3.8% on a year-over-year basis. During the same period in the prior year, the company earned ($0.01) earnings per share. Equities research analysts predict that Hanesbrands Inc. will post 0.35 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in HBI. Sanctuary Advisors LLC bought a new stake in Hanesbrands during the 2nd quarter worth approximately $321,000. Brandes Investment Partners LP raised its position in shares of Hanesbrands by 3.9% during the 2nd quarter. Brandes Investment Partners LP now owns 4,834,202 shares of the textile maker’s stock valued at $23,761,000 after purchasing an additional 183,069 shares during the period. Algert Global LLC bought a new position in Hanesbrands in the 2nd quarter worth $174,000. Barington Capital Group L.P. boosted its holdings in Hanesbrands by 2.8% in the 2nd quarter. Barington Capital Group L.P. now owns 1,852,500 shares of the textile maker’s stock worth $9,133,000 after buying an additional 50,000 shares during the period. Finally, Susquehanna Fundamental Investments LLC increased its stake in Hanesbrands by 58.4% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 836,945 shares of the textile maker’s stock worth $4,126,000 after buying an additional 308,561 shares in the last quarter. Institutional investors 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.