PharVision Advisers LLC Buys New Position in Hanesbrands Inc. (NYSE:HBI)

PharVision Advisers LLC acquired a new position in Hanesbrands Inc. (NYSE:HBI) in the 4th quarter, Holdings Channel reports. The firm acquired 55,630 shares of the textile maker’s stock, valued at approximately $453,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GeoWealth Management LLC increased its position in Hanesbrands by 2,278.8% during the 4th quarter. GeoWealth Management LLC now owns 3,473 shares of the textile maker’s stock valued at $28,000 after buying an additional 3,327 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in Hanesbrands by 122.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 4,920 shares of the textile maker’s stock worth $40,000 after buying an additional 2,712 shares in the last quarter. Transce3nd LLC bought a new stake in shares of Hanesbrands in the fourth quarter worth approximately $45,000. WFA Asset Management Corp bought a new stake in Hanesbrands in the 4th quarter worth approximately $46,000. Finally, Lazard Asset Management LLC bought a new stake in shares of Hanesbrands in the fourth quarter worth $56,000. 80.31% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. UBS Group lifted their price target on shares of Hanesbrands from $7.00 to $8.00 and gave the stock a “buy” rating in a research note on Wednesday, April 23rd. 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. Stifel Nicolaus cut their target price on Hanesbrands from $7.00 to $5.00 and set a “hold” rating for the company in a research report on Thursday, April 10th. Finally, Barclays increased their price objective on shares of Hanesbrands from $5.00 to $6.00 and gave the company an “equal weight” rating in a report on Tuesday. One analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Hanesbrands presently has an average rating of “Hold” and a consensus target price of $5.60.

Hanesbrands Stock Up 0.2%

Shares of HBI opened at $5.35 on Wednesday. The company has a current ratio of 1.37, a quick ratio of 0.68 and a debt-to-equity ratio of 64.28. The firm has a market capitalization of $1.89 billion, a P/E ratio of -5.82 and a beta of 1.50. The firm has a fifty day moving average price of $5.09 and a 200-day moving average price of $6.82. Hanesbrands Inc. has a 12-month low of $4.02 and a 12-month high of $9.10.

Hanesbrands (NYSE:HBI) last announced its quarterly earnings results on Thursday, May 8th. The textile maker reported $0.07 EPS for the quarter, beating the consensus estimate of $0.03 by $0.04. Hanesbrands had a positive return on equity of 108.01% and a negative net margin of 8.06%. The firm had revenue of $760.15 million for the quarter, compared to analyst estimates of $757.42 million. During the same quarter last year, the firm posted ($0.02) earnings per share. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. Equities research analysts expect that Hanesbrands Inc. will post 0.53 earnings per share for the current year.

Hanesbrands Profile

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.