Insider Buying: Hanesbrands Inc. (NYSE:HBI) Director Purchases $449,848.50 in Stock

Hanesbrands Inc. (NYSE:HBI) Director Robert F. Moran acquired 74,850 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was purchased at an average cost of $6.01 per share, with a total value of $449,848.50. Following the completion of the transaction, the director now owns 216,373 shares in the company, valued at $1,300,401.73. The trade was a 52.89 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link.

Hanesbrands Stock Performance

Shares of HBI stock opened at $6.18 on Friday. The company has a debt-to-equity ratio of 64.28, a quick ratio of 0.68 and a current ratio of 1.37. Hanesbrands Inc. has a one year low of $4.40 and a one year high of $9.10. The company’s 50-day simple moving average is $7.96 and its 200-day simple moving average is $7.45. The stock has a market capitalization of $2.18 billion, a price-to-earnings ratio of -6.71 and a beta of 1.63.

Hanesbrands (NYSE:HBI) last issued its quarterly earnings results on Thursday, February 13th. The textile maker reported $0.17 EPS for the quarter, topping the consensus estimate of $0.14 by $0.03. Hanesbrands had a negative net margin of 8.06% and a positive return on equity of 108.01%. The business had revenue of $888.47 million for the quarter, compared to analysts’ expectations of $899.30 million. Equities analysts anticipate that Hanesbrands Inc. will post 0.53 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Hanesbrands

Large investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in shares of Hanesbrands by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 40,034,878 shares of the textile maker’s stock valued at $325,884,000 after purchasing an additional 421,915 shares during the period. Ameriprise Financial Inc. increased its stake in shares of Hanesbrands by 28.2% during the fourth quarter. Ameriprise Financial Inc. now owns 9,951,948 shares of the textile maker’s stock valued at $81,009,000 after acquiring an additional 2,189,844 shares during the period. Geode Capital Management LLC increased its stake in shares of Hanesbrands by 1.1% during the third quarter. Geode Capital Management LLC now owns 7,914,447 shares of the textile maker’s stock valued at $58,183,000 after acquiring an additional 89,367 shares during the period. Hennessy Advisors Inc. acquired a new position in shares of Hanesbrands during the fourth quarter valued at approximately $62,199,000. Finally, Dimensional Fund Advisors LP increased its stake in shares of Hanesbrands by 2.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 6,909,654 shares of the textile maker’s stock valued at $56,245,000 after acquiring an additional 171,918 shares during the period. Institutional investors own 80.31% of the company’s stock.

Wall Street Analysts Forecast Growth

HBI has been the subject of a number of analyst reports. Barclays upped their price objective on shares of Hanesbrands from $6.00 to $7.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. UBS Group raised shares of Hanesbrands from a “neutral” rating to a “buy” rating and increased their price target for the stock from $9.00 to $11.00 in a research report on Tuesday, November 26th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $7.00 price target (down previously from $8.00) on shares of Hanesbrands in a research report on Friday, February 14th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Hanesbrands currently has an average rating of “Hold” and a consensus target price of $7.10.

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.