Investors Research Corp Sells 3,175 Shares of Hanesbrands Inc. (NYSE:HBI)

Investors Research Corp trimmed its holdings in shares of Hanesbrands Inc. (NYSE:HBI) by 10.6% during the fourth quarter, Holdings Channel.com reports. The fund owned 26,775 shares of the textile maker’s stock after selling 3,175 shares during the quarter. Investors Research Corp’s holdings in Hanesbrands were worth $119,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Harbour Investments Inc. increased its position in Hanesbrands by 63.2% during the fourth quarter. Harbour Investments Inc. now owns 6,020 shares of the textile maker’s stock worth $38,000 after acquiring an additional 2,332 shares during the period. Harel Insurance Investments & Financial Services Ltd. bought a new position in Hanesbrands during the third quarter worth about $40,000. Journey Strategic Wealth LLC bought a new position in Hanesbrands during the third quarter worth about $41,000. Sherbrooke Park Advisers LLC bought a new position in Hanesbrands during the third quarter worth about $42,000. Finally, AXQ Capital LP bought a new position in Hanesbrands during the third quarter worth about $43,000. 80.31% of the stock is owned by institutional investors.

Hanesbrands Stock Down 0.2 %

Shares of Hanesbrands stock opened at $4.68 on Wednesday. The company has a current ratio of 1.64, a quick ratio of 0.65 and a debt-to-equity ratio of 7.72. Hanesbrands Inc. has a 12-month low of $3.54 and a 12-month high of $5.86. The firm’s 50-day moving average price is $5.10 and its two-hundred day moving average price is $4.48.

Hanesbrands (NYSE:HBI) last posted its quarterly earnings results on Thursday, February 15th. The textile maker reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.06). Hanesbrands had a negative net margin of 0.31% and a positive return on equity of 5.84%. The company had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.36 billion. During the same quarter in the previous year, the business posted $0.07 earnings per share. The company’s revenue for the quarter was down 12.0% on a year-over-year basis. As a group, sell-side analysts predict that Hanesbrands Inc. will post 0.44 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on HBI. Citigroup increased their price objective on shares of Hanesbrands from $4.50 to $5.50 and gave the stock a “neutral” rating in a research note on Wednesday, April 3rd. Wedbush increased their price objective on shares of Hanesbrands from $4.50 to $5.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 3rd. Four investment analysts have rated the stock with a hold rating, According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $5.00.

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.