Hanesbrands (NYSE:HBI) Hits New 12-Month Low - Here's Why

Key Points

Error: Response status code does not indicate success: 429 (Too Many Requests).

Hanesbrands Inc. (NYSE:HBI - Get Free Report) hit a new 52-week low on Thursday . The stock traded as low as $4.02 and last traded at $4.08, with a volume of 485244 shares changing hands. The stock had previously closed at $4.11.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on HBI shares. UBS Group upped their price objective on shares of Hanesbrands from $7.00 to $8.00 and gave the company a "buy" rating in a report on Wednesday, April 23rd. Wall Street Zen lowered shares of Hanesbrands from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. Stifel Nicolaus lowered their target price on shares of Hanesbrands from $7.00 to $5.00 and set a "hold" rating on the stock in a report on Thursday, April 10th. Barclays set a $6.00 target price on shares of Hanesbrands and gave the stock an "equal weight" rating in a report on Tuesday, May 20th. Finally, Wells Fargo & Company upped their target price on shares of Hanesbrands from $3.00 to $4.00 and gave the stock an "underweight" rating in a report on Wednesday, May 14th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $5.75.

Hanesbrands Stock Down 0.5%

The company has a current ratio of 1.55, a quick ratio of 0.67 and a debt-to-equity ratio of 53.45. The firm has a market capitalization of $1.44 billion, a P/E ratio of -4.85 and a beta of 1.40. The stock's 50-day simple moving average is $4.64 and its 200-day simple moving average is $5.51.

Hanesbrands (NYSE:HBI - Get Free Report) last released its earnings results on Thursday, May 8th. The textile maker reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.04. The company had revenue of $760.15 million during the quarter, compared to analyst estimates of $757.42 million. Hanesbrands had a positive return on equity of 262.15% and a negative net margin of 8.12%. Hanesbrands's quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the company posted ($0.02) earnings per share. As a group, research analysts predict that Hanesbrands Inc. will post 0.53 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Hanesbrands

Several large investors have recently made changes to their positions in HBI. Ameriprise Financial Inc. raised its position in Hanesbrands by 28.2% in 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 during the period. American Century Companies Inc. grew its position in shares of Hanesbrands by 40.8% during the 1st quarter. American Century Companies Inc. now owns 7,547,938 shares of the textile maker's stock valued at $43,552,000 after acquiring an additional 2,185,483 shares during the period. MetLife Investment Management LLC grew its position in shares of Hanesbrands by 1,008.9% during the 1st quarter. MetLife Investment Management LLC now owns 2,337,148 shares of the textile maker's stock valued at $13,485,000 after acquiring an additional 2,126,376 shares during the period. Balyasny Asset Management L.P. grew its position in shares of Hanesbrands by 324.8% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,886,647 shares of the textile maker's stock valued at $15,357,000 after acquiring an additional 1,442,571 shares during the period. Finally, Nuveen LLC bought a new position in shares of Hanesbrands during the 1st quarter valued at approximately $7,761,000. 80.31% of the stock is owned by hedge funds and other institutional investors.

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.