IFP Advisors Inc Buys 11,096 Shares of Hanesbrands Inc. (NYSE:HBI)

IFP Advisors Inc grew its holdings in Hanesbrands Inc. (NYSE:HBI) by 212.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,310 shares of the textile maker’s stock after purchasing an additional 11,096 shares during the period. IFP Advisors Inc’s holdings in Hanesbrands were worth $94,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. GeoWealth Management LLC grew its holdings in shares of Hanesbrands by 2,278.8% in the fourth quarter. GeoWealth Management LLC now owns 3,473 shares of the textile maker’s stock worth $28,000 after acquiring an additional 3,327 shares during the period. CX Institutional purchased a new stake in shares of Hanesbrands in the first quarter worth about $34,000. Transce3nd LLC purchased a new stake in shares of Hanesbrands in the fourth quarter worth about $45,000. Fifth Third Bancorp increased its stake in Hanesbrands by 37.8% during the first quarter. Fifth Third Bancorp now owns 8,259 shares of the textile maker’s stock worth $48,000 after acquiring an additional 2,267 shares during the last quarter. Finally, Lazard Asset Management LLC bought a new stake in Hanesbrands during the fourth quarter worth approximately $56,000. Institutional investors own 80.31% of the company’s stock.

Analysts Set New Price Targets

HBI has been the topic of a number of analyst reports. Barclays set a $6.00 target price on Hanesbrands and gave the company an “equal weight” rating in a research note on Tuesday, May 20th. UBS Group increased their price objective on Hanesbrands from $7.00 to $8.00 and gave the company a “buy” rating in a report on Wednesday, April 23rd. Wall Street Zen downgraded Hanesbrands from a “buy” rating to a “hold” rating in a research report on Saturday. Stifel Nicolaus cut their price target on Hanesbrands from $7.00 to $5.00 and set a “hold” rating on the stock in a research report on Thursday, April 10th. Finally, Wells Fargo & Company raised their price target on shares of Hanesbrands from $3.00 to $4.00 and gave the company an “underweight” rating in a research note on Wednesday, May 14th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $5.75.

Hanesbrands Trading Down 3.9%

HBI opened at $4.33 on Wednesday. The company’s 50 day simple moving average is $4.70 and its two-hundred day simple moving average is $5.58. The firm has a market capitalization of $1.53 billion, a price-to-earnings ratio of -5.15 and a beta of 1.47. The company has a debt-to-equity ratio of 53.45, a current ratio of 1.55 and a quick ratio of 0.67. Hanesbrands Inc. has a 1-year low of $4.02 and a 1-year high of $9.10.

Hanesbrands (NYSE:HBI) last posted its earnings results on Thursday, May 8th. The textile maker reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.04. Hanesbrands had a negative net margin of 8.12% and a positive return on equity of 262.15%. The firm had revenue of $760.15 million during the quarter, compared to the consensus estimate of $757.42 million. During the same quarter last year, the firm earned ($0.02) EPS. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. Analysts expect that Hanesbrands Inc. will post 0.53 EPS for the current fiscal 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.