Hanesbrands (NYSE:HBI) Stock Price Down 17.6% – Time to Sell?

Hanesbrands Inc. (NYSE:HBI)’s share price fell 17.6% during mid-day trading on Thursday . The stock traded as low as $4.85 and last traded at $4.91. 7,305,398 shares traded hands during trading, an increase of 4% from the average session volume of 7,020,810 shares. The stock had previously closed at $5.95.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus restated a “hold” rating and set a $7.00 price objective (down from $8.00) on shares of Hanesbrands in a research note on Friday, February 14th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $7.10.

Hanesbrands Trading Down 17.4 %

The firm has a 50-day moving average price of $6.52 and a 200-day moving average price of $7.40. The company has a current ratio of 1.37, a quick ratio of 0.68 and a debt-to-equity ratio of 64.28. The stock has a market capitalization of $1.74 billion, a PE ratio of -5.34 and a beta of 1.55.

Hanesbrands (NYSE:HBI) last announced its quarterly earnings data on Thursday, February 13th. The textile maker reported $0.17 EPS for the quarter, topping the consensus estimate of $0.14 by $0.03. Hanesbrands had a negative net margin of 8.06% and a positive return on equity of 108.01%. The business had revenue of $888.47 million for the quarter, compared to analyst estimates of $899.30 million. As a group, equities analysts forecast that Hanesbrands Inc. will post 0.53 EPS for the current fiscal year.

Insider Activity

In other news, Director Robert F. Moran acquired 74,850 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was bought at an average price of $6.01 per share, with a total value of $449,848.50. Following the acquisition, 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 document filed with the SEC, which is accessible through the SEC website. Insiders own 0.46% of the company’s stock.

Hedge Funds Weigh In On Hanesbrands

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in shares of Hanesbrands by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 40,034,878 shares of the textile maker’s stock valued at $325,884,000 after buying an additional 421,915 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of Hanesbrands by 28.2% during the fourth quarter. Ameriprise Financial Inc. now owns 9,951,948 shares of the textile maker’s stock worth $81,009,000 after acquiring an additional 2,189,844 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Hanesbrands by 1.1% in the third quarter. Geode Capital Management LLC now owns 7,914,447 shares of the textile maker’s stock worth $58,183,000 after acquiring an additional 89,367 shares during the period. Hennessy Advisors Inc. purchased a new position in shares of Hanesbrands in the fourth quarter valued at $62,199,000. Finally, Dimensional Fund Advisors LP raised its stake in shares of Hanesbrands by 2.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 6,909,654 shares of the textile maker’s stock valued at $56,245,000 after purchasing an additional 171,918 shares during the period. 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.