Hanesbrands (NYSE:HBI) Shares Gap Down to $15.84

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Hanesbrands Inc. (NYSE:HBI)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $17.20, but opened at $15.84. Hanesbrands shares last traded at $15.23, with a volume of 8,642,146 shares traded.

A number of equities research analysts have recently commented on the stock. Citigroup lowered their price target on shares of Hanesbrands from $19.00 to $16.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Bank of America reduced their price objective on shares of Hanesbrands from $20.00 to $17.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. ValuEngine raised shares of Hanesbrands from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 2nd. Finally, UBS Group reduced their price objective on shares of Hanesbrands from $16.00 to $15.00 and set a “neutral” rating for the company in a report on Friday, September 6th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $16.75.

The stock has a market cap of $5.73 billion, a price-to-earnings ratio of 8.91, a price-to-earnings-growth ratio of 2.07 and a beta of 1.17. The company has a 50-day simple moving average of $14.77 and a two-hundred day simple moving average of $16.11. The company has a debt-to-equity ratio of 3.56, a quick ratio of 0.69 and a current ratio of 1.77.

Hanesbrands (NYSE:HBI) last posted its quarterly earnings results on Thursday, August 1st. The textile maker reported $0.45 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.01. The firm had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.75 billion. Hanesbrands had a return on equity of 63.57% and a net margin of 8.13%. The business’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.45 EPS. As a group, sell-side analysts predict that Hanesbrands Inc. will post 1.76 earnings per share for the current fiscal year.

In other news, insider Joia M. Johnson bought 7,100 shares of the stock in a transaction on Wednesday, August 14th. The stock was acquired at an average price of $13.97 per share, with a total value of $99,187.00. Following the acquisition, the insider now directly owns 115,830 shares in the company, valued at $1,618,145.10. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Gerald Evans bought 10,000 shares of the stock in a transaction on Wednesday, August 7th. The stock was purchased at an average cost of $14.74 per share, with a total value of $147,400.00. Following the acquisition, the chief executive officer now owns 1,655,880 shares in the company, valued at $24,407,671.20. The disclosure for this purchase can be found here. Corporate insiders own 1.04% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of HBI. PenderFund Capital Management Ltd. increased its stake in shares of Hanesbrands by 4,028.8% in the second quarter. PenderFund Capital Management Ltd. now owns 15,000,000 shares of the textile maker’s stock valued at $174,000 after buying an additional 14,636,700 shares during the period. Nuveen Asset Management LLC boosted its holdings in Hanesbrands by 43,296.0% in the second quarter. Nuveen Asset Management LLC now owns 6,222,555 shares of the textile maker’s stock worth $107,153,000 after acquiring an additional 6,208,216 shares in the last quarter. Lyrical Asset Management LP boosted its holdings in Hanesbrands by 36.5% in the second quarter. Lyrical Asset Management LP now owns 14,800,906 shares of the textile maker’s stock worth $254,872,000 after acquiring an additional 3,961,663 shares in the last quarter. Diamond Hill Capital Management Inc. lifted its holdings in shares of Hanesbrands by 24.7% in the second quarter. Diamond Hill Capital Management Inc. now owns 13,956,552 shares of the textile maker’s stock valued at $240,332,000 after purchasing an additional 2,762,854 shares in the last quarter. Finally, UBS Group AG lifted its holdings in shares of Hanesbrands by 244.1% in the second quarter. UBS Group AG now owns 2,027,579 shares of the textile maker’s stock valued at $34,915,000 after purchasing an additional 1,438,360 shares in the last quarter. 90.22% of the stock is owned by institutional investors and hedge funds.

Hanesbrands Company Profile (NYSE:HBI)

Hanesbrands, Inc is a consumer goods company, which engages in the design, manufacture, sourcing, and sale of everyday basic innerwear and activewear apparel in the Americas, Europe, Australia and Asia Pacific. It operates through the following three segments: Innerwear, Activewear and International.

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