Lazard Asset Management LLC Makes New $56,000 Investment in Hanesbrands Inc. (NYSE:HBI)

Lazard Asset Management LLC purchased a new stake in Hanesbrands Inc. (NYSE:HBI) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 6,946 shares of the textile maker’s stock, valued at approximately $56,000.

Several other institutional investors have also recently made changes to their positions in the stock. GeoWealth Management LLC increased its position in Hanesbrands by 2,278.8% in the 4th quarter. GeoWealth Management LLC now owns 3,473 shares of the textile maker’s stock valued at $28,000 after buying an additional 3,327 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in shares of Hanesbrands by 122.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 4,920 shares of the textile maker’s stock valued at $40,000 after acquiring an additional 2,712 shares in the last quarter. Transce3nd LLC acquired a new position in shares of Hanesbrands during the fourth quarter worth approximately $45,000. WFA Asset Management Corp bought a new position in shares of Hanesbrands in the 4th quarter worth $46,000. Finally, Allworth Financial LP grew its position in Hanesbrands by 459.2% in the 4th quarter. Allworth Financial LP now owns 8,220 shares of the textile maker’s stock valued at $69,000 after purchasing an additional 6,750 shares during the period. Institutional investors and hedge funds own 80.31% of the company’s stock.

Hanesbrands Stock Down 2.8%

Hanesbrands stock opened at $4.90 on Monday. Hanesbrands Inc. has a fifty-two week low of $4.02 and a fifty-two week high of $9.10. The company has a debt-to-equity ratio of 64.28, a quick ratio of 0.68 and a current ratio of 1.37. The firm’s 50-day simple moving average is $5.04 and its 200 day simple moving average is $6.77. The stock has a market cap of $1.73 billion, a PE ratio of -5.33 and a beta of 1.50.

Hanesbrands (NYSE:HBI) last posted its earnings results on Thursday, May 8th. The textile maker reported $0.07 EPS for the quarter, topping the consensus estimate of $0.03 by $0.04. The firm had revenue of $760.15 million for the quarter, compared to analysts’ expectations of $757.42 million. Hanesbrands had a negative net margin of 8.06% and a positive return on equity of 108.01%. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.02) EPS. Research analysts predict that Hanesbrands Inc. will post 0.53 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have weighed in on HBI. Stifel Nicolaus lowered their price objective on shares of Hanesbrands from $7.00 to $5.00 and set a “hold” rating on the stock in a report on Thursday, April 10th. UBS Group raised their price target on shares of Hanesbrands from $7.00 to $8.00 and gave the company a “buy” rating in a research report on Wednesday, April 23rd. Barclays set a $6.00 price objective on Hanesbrands and gave the stock an “equal weight” rating in a report on Tuesday, May 20th. Wells Fargo & Company increased their price objective on Hanesbrands from $3.00 to $4.00 and gave the stock an “underweight” rating in a research note on Wednesday, May 14th. Finally, Wall Street Zen raised Hanesbrands from a “hold” rating to a “buy” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $5.60.

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.