Advisors Preferred LLC Invests $593,000 in Hanesbrands Inc. (NYSE:HBI)

Advisors Preferred LLC bought a new stake in Hanesbrands Inc. (NYSE:HBI) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 73,795 shares of the textile maker’s stock, valued at approximately $593,000.

Other large investors also recently added to or reduced their stakes in the company. Marshall Wace LLP purchased a new position in shares of Hanesbrands in the second quarter valued at approximately $70,000. The Manufacturers Life Insurance Company raised its holdings in Hanesbrands by 3.3% during the second quarter. The Manufacturers Life Insurance Company now owns 176,817 shares of the textile maker’s stock worth $872,000 after purchasing an additional 5,664 shares in the last quarter. Algert Global LLC purchased a new stake in Hanesbrands in the second quarter valued at $174,000. Sanctuary Advisors LLC acquired a new stake in shares of Hanesbrands in the 2nd quarter valued at about $321,000. Finally, Handelsbanken Fonder AB lifted its stake in Hanesbrands by 44.9% in the third quarter. Handelsbanken Fonder AB now owns 108,353 shares of the textile maker’s stock valued at $796,000 after buying an additional 33,600 shares during the last quarter. 80.31% of the stock is currently owned by institutional investors and hedge funds.

Hanesbrands Stock Performance

Shares of NYSE:HBI opened at $7.54 on Friday. The company has a current ratio of 1.49, a quick ratio of 0.90 and a debt-to-equity ratio of 21.50. Hanesbrands Inc. has a one year low of $4.06 and a one year high of $9.10. The business’s fifty day moving average price is $8.35 and its two-hundred day moving average price is $7.38.

Hanesbrands (NYSE:HBI) last issued its quarterly earnings results on Thursday, November 7th. The textile maker reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.04. Hanesbrands had a positive return on equity of 44.72% and a negative net margin of 5.24%. The company had revenue of $937.10 million for the quarter, compared to analyst estimates of $936.47 million. During the same quarter in the prior year, the company posted $0.10 EPS. The business’s revenue for the quarter was down 2.5% compared to the same quarter last year. Sell-side analysts forecast that Hanesbrands Inc. will post 0.39 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on HBI. 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 research note on Tuesday, November 26th. Barclays lifted 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. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Hanesbrands currently has a consensus rating of “Hold” and a consensus price target of $6.90.

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.