Insider Buying: Hanesbrands Inc. (NYSE:HBI) Director Purchases 74,850 Shares of Stock

Hanesbrands Inc. (NYSE:HBI) Director Robert F. Moran bought 74,850 shares of the stock in a transaction dated Tuesday, February 18th. The stock was bought at an average cost of $6.01 per share, with a total value of $449,848.50. Following the purchase, the director now owns 216,373 shares in the company, valued at $1,300,401.73. The trade was a 52.89 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Hanesbrands Stock Up 3.8 %

Shares of Hanesbrands stock traded up $0.23 during midday trading on Tuesday, hitting $6.11. The company had a trading volume of 12,191,091 shares, compared to its average volume of 6,459,680. 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 stock has a market capitalization of $2.15 billion, a P/E ratio of -9.25 and a beta of 1.63. The company has a 50 day moving average of $8.10 and a 200 day moving average of $7.46. Hanesbrands Inc. has a 52-week low of $4.16 and a 52-week high of $9.10.

Hanesbrands (NYSE:HBI) last posted its quarterly earnings results on Thursday, February 13th. The textile maker reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.03. The company had revenue of $888.47 million for the quarter, compared to the consensus estimate of $899.30 million. Hanesbrands had a positive return on equity of 44.72% and a negative net margin of 5.24%. On average, equities analysts predict that Hanesbrands Inc. will post 0.39 earnings per share for the current fiscal year.

Institutional Trading of Hanesbrands

Several hedge funds and other institutional investors have recently made changes to their positions in HBI. Sanctuary Advisors LLC boosted its stake in Hanesbrands by 2.2% during the 4th quarter. Sanctuary Advisors LLC now owns 58,714 shares of the textile maker’s stock valued at $498,000 after purchasing an additional 1,277 shares during the last quarter. Blue Trust Inc. raised its stake 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 worth $39,000 after purchasing an additional 1,594 shares during the last quarter. GAMMA Investing LLC increased its holdings in Hanesbrands by 39.7% in the 4th quarter. GAMMA Investing LLC now owns 6,669 shares of the textile maker’s stock worth $54,000 after buying an additional 1,895 shares in the last quarter. Avior Wealth Management LLC raised its position in Hanesbrands by 3.5% in the 4th quarter. Avior Wealth Management LLC now owns 56,700 shares of the textile maker’s stock worth $462,000 after buying an additional 1,900 shares during the last quarter. Finally, NewEdge Advisors LLC raised its position in Hanesbrands by 4.3% in the 4th quarter. NewEdge Advisors LLC now owns 46,806 shares of the textile maker’s stock worth $381,000 after buying an additional 1,944 shares during the last quarter. Hedge funds and other institutional investors own 80.31% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on HBI. Stifel Nicolaus restated a “hold” rating and set a $7.00 price target (down previously from $8.00) on shares of Hanesbrands in a report on Friday. Barclays upped their target price on Hanesbrands from $6.00 to $7.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. Finally, UBS Group upgraded Hanesbrands from a “neutral” rating to a “buy” rating and upped their target price for the stock from $9.00 to $11.00 in a report on Tuesday, November 26th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, Hanesbrands presently has an average rating of “Hold” and an average target price of $7.10.

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.