Entropy Technologies LP Purchases New Shares in Hanesbrands Inc. $HBI

Key Points

• Entropy Technologies LP has acquired a new stake in Hanesbrands Inc., purchasing 70,100 shares valued at approximately $404,000 during the first quarter.
• Analysts have set new price targets for Hanesbrands, with UBS Group raising the target from $8.00 to $9.00 and upgrading the stock to a "buy" rating.
• Hanesbrands reported a quarterly earnings per share of $0.24, surpassing the consensus estimate and showing a revenue decrease of 0.4% compared to the previous year.

Entropy Technologies LP bought a new position in Hanesbrands Inc. (NYSE:HBI - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 70,100 shares of the textile maker's stock, valued at approximately $404,000.

A number of other institutional investors have also added to or reduced their stakes in the business. NewEdge Advisors LLC increased its stake 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 acquiring an additional 1,944 shares during the last quarter. Summit Investment Advisors Inc. increased its position in shares of Hanesbrands by 5.6% during the 4th quarter. Summit Investment Advisors Inc. now owns 36,964 shares of the textile maker's stock valued at $301,000 after purchasing an additional 1,973 shares during the last quarter. Patriot Financial Group Insurance Agency LLC increased its position in shares of Hanesbrands by 9.4% during the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 26,288 shares of the textile maker's stock valued at $152,000 after purchasing an additional 2,255 shares during the last quarter. Fifth Third Bancorp boosted its position in Hanesbrands by 37.8% during the first quarter. Fifth Third Bancorp now owns 8,259 shares of the textile maker's stock valued at $48,000 after buying an additional 2,267 shares during the period. Finally, Balanced Rock Investment Advisors LLC boosted its position in Hanesbrands by 6.0% during the first quarter. Balanced Rock Investment Advisors LLC now owns 50,270 shares of the textile maker's stock valued at $290,000 after buying an additional 2,826 shares during the period. 80.31% of the stock is currently owned by institutional investors.

Hanesbrands Trading Up 0.4%

Shares of HBI stock traded up $0.03 during trading hours on Monday, reaching $6.46. The company's stock had a trading volume of 4,753,076 shares, compared to its average volume of 7,284,110. The stock has a market capitalization of $2.28 billion, a P/E ratio of 26.90 and a beta of 1.40. Hanesbrands Inc. has a one year low of $3.96 and a one year high of $9.10. The firm's fifty day simple moving average is $4.70 and its 200 day simple moving average is $5.25. The company has a current ratio of 1.52, a quick ratio of 0.74 and a debt-to-equity ratio of 13.62.

Hanesbrands (NYSE:HBI - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The textile maker reported $0.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.18 by $0.06. Hanesbrands had a net margin of 2.49% and a return on equity of 226.31%. The company had revenue of $991.33 million during the quarter, compared to the consensus estimate of $971.93 million. During the same period in the prior year, the firm earned $0.15 earnings per share. Hanesbrands's revenue was down .4% on a year-over-year basis. Equities research analysts expect that Hanesbrands Inc. will post 0.53 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. UBS Group upped their price target on shares of Hanesbrands from $8.00 to $9.00 and gave the company a "buy" rating in a research report on Friday, August 8th. Wall Street Zen upgraded Hanesbrands from a "hold" rating to a "strong-buy" rating in a research report on Saturday, August 9th. Barclays set a $6.00 price target on Hanesbrands and gave the stock an "equal weight" rating in a research report on Tuesday, May 20th. Finally, Wells Fargo & Company upgraded Hanesbrands from a "strong sell" rating to a "hold" rating and raised their price target for the stock from $5.00 to $6.00 in a research report on Thursday. Three analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Hanesbrands currently has an average rating of "Moderate Buy" and an average price target of $6.50.

About Hanesbrands

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.