Hanesbrands Inc. (HBI) Stock Price Down NaN After Analyst Downgrade

Hanesbrands Inc. (NYSE:HBI) shares dropped NaN during mid-day trading on Thursday after Zacks Investment Research downgraded the stock from a buy rating to a hold rating. The company traded as low as $19.27 and last traded at $0.00. 20,503,905 shares changed hands during mid-day trading, an increase of Infinity from the average session volume of 0 shares.

A number of other research analysts have also recently weighed in on HBI. ValuEngine raised shares of Hanesbrands from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. BidaskClub cut shares of Hanesbrands from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Buckingham Research reissued a “buy” rating and set a $30.00 price objective on shares of Hanesbrands in a research note on Monday, July 17th. Credit Suisse Group set a $28.00 price objective on shares of Hanesbrands and gave the stock a “buy” rating in a research note on Thursday, July 27th. Finally, Oppenheimer Holdings, Inc. set a $32.00 price objective on shares of Hanesbrands and gave the stock a “buy” rating in a research note on Tuesday, August 1st. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and nine have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $26.13.

In other Hanesbrands news, insider John T. Marsh sold 10,325 shares of Hanesbrands stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $24.27, for a total value of $250,587.75. Following the completion of the sale, the insider now directly owns 99,997 shares of the company’s stock, valued at approximately $2,426,927.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.10% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently made changes to their positions in HBI. Sasco Capital Inc. CT acquired a new position in shares of Hanesbrands in the 2nd quarter valued at $57,945,000. Morningstar Investment Services LLC boosted its holdings in shares of Hanesbrands by 360.9% in the 2nd quarter. Morningstar Investment Services LLC now owns 3,034,052 shares of the textile maker’s stock valued at $70,269,000 after purchasing an additional 2,375,811 shares during the last quarter. Bessemer Group Inc. boosted its holdings in shares of Hanesbrands by 43.5% in the 2nd quarter. Bessemer Group Inc. now owns 5,808,161 shares of the textile maker’s stock valued at $134,518,000 after purchasing an additional 1,760,614 shares during the last quarter. Sabal Trust CO acquired a new position in shares of Hanesbrands in the 3rd quarter valued at $25,479,000. Finally, USS Investment Management Ltd acquired a new position in shares of Hanesbrands in the 2nd quarter valued at $20,937,000. Institutional investors own 94.80% of the company’s stock.

The company has a current ratio of 1.88, a quick ratio of 0.89 and a debt-to-equity ratio of 2.90. The stock has a market capitalization of $7.32 billion, a price-to-earnings ratio of 10.30, a price-to-earnings-growth ratio of 1.15 and a beta of 0.73.

Hanesbrands (NYSE:HBI) last announced its quarterly earnings results on Wednesday, November 1st. The textile maker reported $0.60 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.60. The business had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.80 billion. Hanesbrands had a return on equity of 64.73% and a net margin of 9.43%. The business’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.56 EPS. research analysts expect that Hanesbrands Inc. will post 1.94 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 5th. Stockholders of record on Tuesday, November 14th will be paid a dividend of $0.15 per share. The ex-dividend date is Monday, November 13th. This represents a $0.60 annualized dividend and a dividend yield of 3.10%. Hanesbrands’s dividend payout ratio (DPR) is presently 37.04%.

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About Hanesbrands

Hanesbrands Inc is a marketer of basic innerwear and activewear apparel in the Americas, Europe, Australia and Asia/Pacific under apparel brands, such as Hanes, Champion, Maidenform, DIM, Bali, Playtex, Bonds, JMS/Just My Size, Nur Die/Nur Der, L’eggs, Lovable, Wonderbra, Flexees, Gear for Sports and Berlei.

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