Stifel Nicolaus Cuts Hanesbrands (NYSE:HBI) Price Target to $5.00

Hanesbrands (NYSE:HBI) had its price objective decreased by Stifel Nicolaus from $7.00 to $5.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a “hold” rating on the textile maker’s stock. Stifel Nicolaus’ price objective would suggest a potential upside of 14.03% from the company’s current price.

Hanesbrands Stock Performance

NYSE:HBI traded down $0.48 during midday trading on Thursday, reaching $4.39. 1,708,184 shares of the company traded hands, compared to its average volume of 7,129,008. Hanesbrands has a twelve month low of $4.02 and a twelve month high of $9.10. The company has a debt-to-equity ratio of 64.28, a current ratio of 1.37 and a quick ratio of 0.68. The company has a fifty day moving average price of $6.08 and a 200 day moving average price of $7.30. The firm has a market capitalization of $1.55 billion, a price-to-earnings ratio of -4.77 and a beta of 1.55.

Hanesbrands (NYSE:HBI) last issued its quarterly earnings results on Thursday, February 13th. The textile maker reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.03. The company had revenue of $888.47 million for the quarter, compared to analyst estimates of $899.30 million. Hanesbrands had a positive return on equity of 108.01% and a negative net margin of 8.06%. On average, analysts expect that Hanesbrands will post 0.53 EPS for the current fiscal year.

Insider Transactions at Hanesbrands

In other news, Director Robert F. Moran purchased 74,850 shares of the business’s 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 directly owns 216,373 shares of the company’s stock, valued at approximately $1,300,401.73. This trade represents a 52.89 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.46% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in HBI. FMR LLC increased its position in Hanesbrands by 203.5% in the 3rd quarter. FMR LLC now owns 115,833 shares of the textile maker’s stock worth $851,000 after buying an additional 77,669 shares during the period. Quantinno Capital Management LP bought a new position in Hanesbrands in the 3rd quarter worth approximately $77,000. Stifel Financial Corp increased its position in Hanesbrands by 7.8% in the 3rd quarter. Stifel Financial Corp now owns 201,501 shares of the textile maker’s stock worth $1,481,000 after buying an additional 14,655 shares during the period. Geode Capital Management LLC grew its holdings in shares of Hanesbrands by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 7,914,447 shares of the textile maker’s stock worth $58,183,000 after purchasing an additional 89,367 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of Hanesbrands during the 3rd quarter worth approximately $130,000. 80.31% of the stock is owned by institutional investors.

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.