Advisors Preferred LLC Makes New Investment in Hanesbrands Inc. (NYSE:HBI)

Advisors Preferred LLC purchased a new position in Hanesbrands Inc. (NYSE:HBI) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 73,795 shares of the textile maker’s stock, valued at approximately $593,000.

A number of other hedge funds also recently bought and sold shares of the business. Long Run Wealth Advisors LLC acquired a new stake in Hanesbrands in the 4th quarter valued at $127,000. Choreo LLC grew its position in shares of Hanesbrands by 105.7% in the fourth quarter. Choreo LLC now owns 43,125 shares of the textile maker’s stock valued at $350,000 after purchasing an additional 22,160 shares during the period. WFA Asset Management Corp purchased a new stake in shares of Hanesbrands during the fourth quarter worth about $46,000. OLD National Bancorp IN raised its position in shares of Hanesbrands by 28.1% during the 4th quarter. OLD National Bancorp IN now owns 34,507 shares of the textile maker’s stock worth $281,000 after purchasing an additional 7,569 shares during the last quarter. Finally, KBC Group NV lifted its stake in Hanesbrands by 38.1% in the 4th quarter. KBC Group NV now owns 15,701 shares of the textile maker’s stock valued at $128,000 after buying an additional 4,332 shares in the last quarter. Hedge funds and other institutional investors own 80.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on HBI shares. UBS Group upgraded Hanesbrands from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $9.00 to $11.00 in a research note on Tuesday, November 26th. Barclays increased their price objective on Hanesbrands from $6.00 to $7.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $6.90.

Hanesbrands Stock Performance

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

Hanesbrands (NYSE:HBI) last released its quarterly 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. The firm had revenue of $937.10 million for the quarter, compared to analyst estimates of $936.47 million. Hanesbrands had a negative net margin of 5.24% and a positive return on equity of 44.72%. The business’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.10 EPS. Equities analysts forecast that Hanesbrands Inc. will post 0.39 earnings per share for the current fiscal year.

About Hanesbrands

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.