Envestnet Asset Management Inc. Has $1.60 Million Position in Hanesbrands Inc. (NYSE:HBI)

Envestnet Asset Management Inc. lifted its position in shares of Hanesbrands Inc. (NYSE:HBI) by 13.0% in the 1st quarter, Holdings Channel reports. The institutional investor owned 277,376 shares of the textile maker’s stock after purchasing an additional 32,017 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Hanesbrands were worth $1,600,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Principal Financial Group Inc. raised its holdings in Hanesbrands by 2.5% during the first quarter. Principal Financial Group Inc. now owns 1,763,150 shares of the textile maker’s stock worth $10,173,000 after acquiring an additional 42,903 shares in the last quarter. Teacher Retirement System of Texas bought a new stake in Hanesbrands during the first quarter worth about $297,000. International Assets Investment Management LLC raised its holdings in Hanesbrands by 27.3% during the first quarter. International Assets Investment Management LLC now owns 16,208 shares of the textile maker’s stock worth $94,000 after acquiring an additional 3,480 shares in the last quarter. Petros Family Wealth LLC raised its holdings in Hanesbrands by 35.1% during the first quarter. Petros Family Wealth LLC now owns 15,427 shares of the textile maker’s stock worth $89,000 after acquiring an additional 4,009 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. raised its holdings in Hanesbrands by 60.6% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 216,653 shares of the textile maker’s stock worth $1,250,000 after acquiring an additional 81,709 shares in the last quarter. 80.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on HBI shares. Barclays set a $6.00 target price on Hanesbrands and gave the stock an “equal weight” rating in a report on Tuesday, May 20th. Stifel Nicolaus dropped their price objective on Hanesbrands from $7.00 to $5.00 and set a “hold” rating on the stock in a research note on Thursday, April 10th. Wall Street Zen lowered Hanesbrands from a “buy” rating to a “hold” rating in a research note on Saturday, July 26th. Wells Fargo & Company upped their price objective on Hanesbrands from $3.00 to $4.00 and gave the company an “underweight” rating in a research note on Wednesday, May 14th. Finally, UBS Group upped their price objective on Hanesbrands from $7.00 to $8.00 and gave the company a “buy” rating in a research note on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $5.75.

Hanesbrands Price Performance

Shares of NYSE HBI opened at $4.11 on Thursday. The firm has a market cap of $1.45 billion, a P/E ratio of -4.89 and a beta of 1.47. The company has a current ratio of 1.55, a quick ratio of 0.67 and a debt-to-equity ratio of 53.45. Hanesbrands Inc. has a 1-year low of $4.02 and a 1-year high of $9.10. The business’s 50 day moving average is $4.68 and its 200-day moving average is $5.57.

Hanesbrands (NYSE:HBI) last announced its earnings results on Thursday, May 8th. The textile maker reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.04. The company had revenue of $760.15 million for the quarter, compared to analyst estimates of $757.42 million. Hanesbrands had a positive return on equity of 262.15% and a negative net margin of 8.12%. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the company earned ($0.02) earnings per share. Equities research analysts predict that Hanesbrands Inc. will post 0.53 earnings per share for the current 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.