Tidal Investments LLC Makes New $1.02 Million Investment in Hanesbrands Inc. (NYSE:HBI)

Tidal Investments LLC purchased a new position in shares of Hanesbrands Inc. (NYSE:HBI) in the 3rd quarter, HoldingsChannel.com reports. The firm purchased 138,865 shares of the textile maker’s stock, valued at approximately $1,021,000.

A number of other institutional investors have also modified their holdings of HBI. Rothschild Investment LLC acquired a new position in Hanesbrands during the 2nd quarter worth about $39,000. Blue Trust Inc. lifted its position in shares of Hanesbrands by 42.3% during the third quarter. Blue Trust Inc. now owns 5,359 shares of the textile maker’s stock worth $39,000 after purchasing an additional 1,594 shares in the last quarter. Intech Investment Management LLC purchased a new position in shares of Hanesbrands in the second quarter valued at approximately $51,000. Whittier Trust Co. acquired a new position in shares of Hanesbrands in the third quarter valued at approximately $51,000. Finally, Fifth Third Wealth Advisors LLC purchased a new stake in Hanesbrands during the 2nd quarter worth approximately $55,000. 80.31% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have commented on HBI shares. Barclays raised their price target 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 upgraded Hanesbrands from a “neutral” rating to a “buy” rating and lifted their target price for the company from $9.00 to $11.00 in a report on Tuesday, November 26th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $6.90.

Hanesbrands Stock Down 1.2 %

Shares of Hanesbrands stock opened at $8.10 on Friday. The company has a quick ratio of 0.90, a current ratio of 1.49 and a debt-to-equity ratio of 21.50. Hanesbrands Inc. has a 52-week low of $3.88 and a 52-week high of $9.10. The company has a market capitalization of $2.86 billion, a P/E ratio of -12.27 and a beta of 1.64. The company has a 50 day moving average of $7.94 and a 200 day moving average of $6.60.

Hanesbrands (NYSE:HBI) last released its quarterly earnings data on Thursday, November 7th. The textile maker reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.04. The business had revenue of $937.10 million during the quarter, compared to analysts’ expectations of $936.47 million. Hanesbrands had a negative net margin of 5.24% and a positive return on equity of 44.72%. The company’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.10 EPS. As a group, research analysts forecast that Hanesbrands Inc. will post 0.39 EPS for the current fiscal 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.