ERTS Wealth Advisors LLC Takes Position in Hanesbrands Inc. (NYSE:HBI)

ERTS Wealth Advisors LLC purchased a new position in shares of Hanesbrands Inc. (NYSE:HBI) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 10,354 shares of the textile maker’s stock, valued at approximately $76,000.

A number of other large investors have also added to or reduced their stakes in HBI. Vanguard Group Inc. raised its position in shares of Hanesbrands by 3.5% during the first quarter. Vanguard Group Inc. now owns 40,265,899 shares of the textile maker’s stock worth $233,542,000 after acquiring an additional 1,362,140 shares during the last quarter. Loews Corp boosted its stake in Hanesbrands by 108.7% during the 2nd quarter. Loews Corp now owns 29,197,796 shares of the textile maker’s stock valued at $143,945,000 after purchasing an additional 15,206,007 shares during the last quarter. Cooke & Bieler LP grew its holdings in Hanesbrands by 2.1% during the second quarter. Cooke & Bieler LP now owns 16,329,763 shares of the textile maker’s stock worth $80,506,000 after buying an additional 342,056 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Hanesbrands by 18.2% in the second quarter. Dimensional Fund Advisors LP now owns 6,661,235 shares of the textile maker’s stock valued at $32,836,000 after purchasing an additional 1,024,308 shares during the last quarter. Finally, Brandes Investment Partners LP lifted its position in shares of Hanesbrands by 3.9% during the 2nd quarter. Brandes Investment Partners LP now owns 4,834,202 shares of the textile maker’s stock worth $23,761,000 after buying an additional 183,069 shares in the last quarter. Institutional investors own 80.31% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on HBI shares. Stifel Nicolaus raised their price objective on shares of Hanesbrands from $4.50 to $6.00 and gave the stock a “hold” rating in a report on Monday, August 12th. UBS Group increased their target price on Hanesbrands from $5.00 to $6.50 and gave the company a “neutral” rating in a research note on Tuesday, August 27th. Finally, Barclays boosted their price target on shares of Hanesbrands from $5.00 to $6.00 and gave the stock an “equal weight” rating in a research note on Monday, August 12th. Six research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $5.80.

Hanesbrands Stock Performance

Shares of Hanesbrands stock traded up $0.08 on Friday, hitting $7.55. 510,842 shares of the company’s stock were exchanged, compared to its average volume of 7,901,620. The company has a 50-day simple moving average of $6.69 and a 200-day simple moving average of $5.61. Hanesbrands Inc. has a 1 year low of $3.58 and a 1 year high of $7.56. The company has a debt-to-equity ratio of 50.06, a quick ratio of 0.86 and a current ratio of 1.46. The stock has a market capitalization of $2.65 billion, a PE ratio of -124.50 and a beta of 1.58.

Hanesbrands (NYSE:HBI) last issued its earnings results on Thursday, August 8th. The textile maker reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.05. The firm had revenue of $995.40 million for the quarter, compared to analysts’ expectations of $1.35 billion. Hanesbrands had a positive return on equity of 33.23% and a negative net margin of 6.02%. The business’s revenue was down 3.8% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.01) earnings per share. As a group, equities analysts anticipate that Hanesbrands Inc. will post 0.34 EPS for the current year.

Hanesbrands Company 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.