Moors & Cabot Inc. Buys 12,000 Shares of Hanesbrands Inc. (NYSE:HBI)

Moors & Cabot Inc. grew its stake in Hanesbrands Inc. (NYSE:HBI) by 25.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 58,383 shares of the textile maker’s stock after purchasing an additional 12,000 shares during the quarter. Moors & Cabot Inc.’s holdings in Hanesbrands were worth $429,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Rothschild Investment LLC purchased a new position in shares of Hanesbrands in the 2nd quarter valued at approximately $39,000. Blue Trust Inc. lifted its position in Hanesbrands by 42.3% during the third quarter. Blue Trust Inc. now owns 5,359 shares of the textile maker’s stock valued at $39,000 after buying an additional 1,594 shares during the period. Intech Investment Management LLC purchased a new stake in shares of Hanesbrands in the 2nd quarter worth about $51,000. Whittier Trust Co. bought a new position in shares of Hanesbrands in the 3rd quarter worth about $51,000. Finally, Fifth Third Wealth Advisors LLC purchased a new position in Hanesbrands during the 2nd quarter valued at about $55,000. 80.31% of the stock is owned by hedge funds and other institutional investors.

Hanesbrands Trading Up 4.3 %

NYSE:HBI opened at $8.54 on Friday. Hanesbrands Inc. has a 52 week low of $3.58 and a 52 week high of $8.70. The stock has a market cap of $3.01 billion, a price-to-earnings ratio of -12.94 and a beta of 1.58. The company’s 50 day moving average price is $7.37 and its 200-day moving average price is $6.11. The company has a quick ratio of 0.90, a current ratio of 1.49 and a debt-to-equity ratio of 21.50.

Hanesbrands (NYSE:HBI) last issued its earnings results on Thursday, November 7th. The textile maker reported $0.15 EPS for the quarter, beating the consensus estimate 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 business had revenue of $937.10 million for the quarter, compared to the consensus estimate of $936.47 million. During the same period last year, the business posted $0.10 EPS. The company’s revenue was down 2.5% compared to the same quarter last year. On average, equities research analysts forecast that Hanesbrands Inc. will post 0.39 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have weighed in on HBI. Barclays upped their price objective on shares of Hanesbrands from $6.00 to $7.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. Stifel Nicolaus raised their price objective on Hanesbrands from $4.50 to $6.00 and gave the company a “hold” rating in a research report on Monday, August 12th. Finally, UBS Group boosted their target price on Hanesbrands from $5.00 to $6.50 and gave the stock a “neutral” rating in a report on Tuesday, August 27th. Five equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $6.00.

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.