Hanesbrands (HBI) Shares Gap Down to $13.82

Shares of Hanesbrands Inc. (NYSE:HBI) gapped down before the market opened on Thursday . The stock had previously closed at $14.16, but opened at $13.82. Hanesbrands shares last traded at $13.62, with a volume of 4952183 shares traded.

A number of brokerages have recently weighed in on HBI. Zacks Investment Research downgraded shares of Hanesbrands from a “hold” rating to a “sell” rating in a report on Thursday, January 3rd. Citigroup upped their price target on shares of Hanesbrands from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Monday, December 3rd. Nomura cut their price target on shares of Hanesbrands from $18.00 to $17.00 and set a “neutral” rating for the company in a report on Friday, November 2nd. Barclays set a $18.00 price target on shares of Hanesbrands and gave the stock a “hold” rating in a report on Thursday, November 1st. Finally, Wells Fargo & Co cut their price target on shares of Hanesbrands from $18.00 to $14.00 and set a “market perform” rating for the company in a report on Wednesday, January 2nd. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $21.20.

The company has a market cap of $4.65 billion, a P/E ratio of 7.06, a P/E/G ratio of 0.70 and a beta of 0.66. The company has a debt-to-equity ratio of 4.44, a quick ratio of 0.79 and a current ratio of 1.84.

Hanesbrands (NYSE:HBI) last issued its quarterly earnings data on Thursday, November 1st. The textile maker reported $0.55 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.55. The business had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.87 billion. Hanesbrands had a net margin of 0.10% and a return on equity of 85.49%. The firm’s revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.60 EPS. Equities analysts anticipate that Hanesbrands Inc. will post 1.73 earnings per share for the current year.

In related news, CEO Gerald Evans acquired 6,500 shares of the company’s stock in a transaction that occurred on Monday, November 19th. The stock was acquired at an average price of $14.98 per share, with a total value of $97,370.00. Following the purchase, the chief executive officer now directly owns 1,392,949 shares in the company, valued at $20,866,376.02. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jessica Tuchman Mathews sold 15,000 shares of the stock in a transaction that occurred on Friday, December 14th. The shares were sold at an average price of $13.57, for a total transaction of $203,550.00. Following the completion of the transaction, the director now directly owns 139,693 shares of the company’s stock, valued at approximately $1,895,634.01. The disclosure for this sale can be found here. In the last three months, insiders purchased 61,600 shares of company stock valued at $940,079 and sold 77,803 shares valued at $1,171,521. 1.06% of the stock is owned by corporate insiders.

A number of large investors have recently modified their holdings of HBI. Global Trust Asset Management LLC increased its position in Hanesbrands by 40.0% in the 3rd quarter. Global Trust Asset Management LLC now owns 10,427 shares of the textile maker’s stock valued at $192,000 after acquiring an additional 2,977 shares during the period. PNC Financial Services Group Inc. increased its position in Hanesbrands by 2.1% in the 2nd quarter. PNC Financial Services Group Inc. now owns 159,749 shares of the textile maker’s stock valued at $3,517,000 after acquiring an additional 3,338 shares during the period. Ridgewood Investments LLC increased its position in Hanesbrands by 22.6% in the 3rd quarter. Ridgewood Investments LLC now owns 18,157 shares of the textile maker’s stock valued at $335,000 after acquiring an additional 3,351 shares during the period. Arnhold LLC increased its position in Hanesbrands by 1.1% in the 3rd quarter. Arnhold LLC now owns 339,829 shares of the textile maker’s stock valued at $6,263,000 after acquiring an additional 3,829 shares during the period. Finally, Northwest Investment Counselors LLC increased its position in Hanesbrands by 4.8% in the 3rd quarter. Northwest Investment Counselors LLC now owns 86,103 shares of the textile maker’s stock valued at $1,587,000 after acquiring an additional 3,934 shares during the period. 99.55% of the stock is owned by institutional investors and hedge funds.

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Hanesbrands Company Profile (NYSE:HBI)

Hanesbrands Inc, a consumer goods company, designs, manufactures, sources, and sells a range of basic apparel for men, women, and children in the United States. The company operates through three segments: Innerwear, Activewear, and International. It sells bras, panties, men's underwear, children's underwear, activewear, socks, hosiery, intimate apparel, shapewears, and home goods; and T-shirts, fleece, sport shirts, performance T-shirts and shorts, sports bras, and thermals, as well as licensed logo apparel in collegiate bookstores, mass retailers, and other channels.

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