Algert Global LLC Invests $174,000 in Hanesbrands Inc. (NYSE:HBI)

Algert Global LLC acquired a new position in shares of Hanesbrands Inc. (NYSE:HBI) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 35,384 shares of the textile maker’s stock, valued at approximately $174,000.

A number of other institutional investors have also recently added to or reduced their stakes in HBI. Gate City Capital Management LLC acquired a new stake in Hanesbrands in the fourth quarter worth approximately $9,812,000. Sierra Summit Advisors LLC acquired a new stake in Hanesbrands in the fourth quarter worth approximately $215,000. Beacon Financial Group acquired a new stake in Hanesbrands in the fourth quarter worth approximately $174,000. Goldman Sachs Group Inc. lifted its position in Hanesbrands by 17.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 3,806,697 shares of the textile maker’s stock worth $16,978,000 after purchasing an additional 561,039 shares during the period. Finally, Vanguard Group Inc. increased its holdings in shares of Hanesbrands by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 38,903,759 shares of the textile maker’s stock valued at $173,511,000 after buying an additional 597,523 shares in the last quarter. 80.31% of the stock is currently owned by institutional investors and hedge funds.

Hanesbrands Price Performance

Shares of NYSE:HBI opened at $7.33 on Friday. The company’s fifty day moving average is $6.50 and its two-hundred day moving average is $5.55. The company has a quick ratio of 0.86, a current ratio of 1.46 and a debt-to-equity ratio of 50.06. Hanesbrands Inc. has a 12-month low of $3.58 and a 12-month high of $7.44. The company has a market cap of $2.58 billion, a P/E ratio of -122.08 and a beta of 1.58.

Hanesbrands (NYSE:HBI) last announced its earnings results on Thursday, August 8th. The textile maker reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.05. Hanesbrands had a negative net margin of 6.02% and a positive return on equity of 33.23%. The company had revenue of $995.40 million for the quarter, compared to the consensus estimate of $1.35 billion. During the same period in the previous year, the business earned ($0.01) EPS. The company’s revenue was down 3.8% on a year-over-year basis. Equities analysts expect that Hanesbrands Inc. will post 0.35 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. UBS Group upped their price target on Hanesbrands from $5.00 to $6.50 and gave the company a “neutral” rating in a report on Tuesday, August 27th. Stifel Nicolaus upped their price target on Hanesbrands from $4.50 to $6.00 and gave the company a “hold” rating in a report on Monday, August 12th. Finally, Barclays upped their price target on Hanesbrands from $5.00 to $6.00 and gave the company an “equal weight” rating in a report on Monday, August 12th. Six equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $5.80.

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.