In the last two years, Winston-Salem-based apparel maker Hanesbrands has churned out record profit topping $830 million — and its shares have declined about 45% from a March 2015 peak amid fears of slowing growth. Analysts expect a rebound: The one-year target price averages 30% higher than the current level. Hanebrands’ misery was shared by other apparel companies. Under Armour, Ralph Lauren and Deckers Outdoors each declined by more than 13% last week.
These were the best performing Carolinas-based stocks included in the Capital Investment Cos./Nottingham Index of public companies for the week.
Ply Gem (PGEM) 11% – The Cary-based company’s dominant owner CI Capital has put the company up for sale for $2 billion, the New York Post reported.
Jeld-Wen (JELD) 9.2% – The newest Carolinas public company has gained 24% since going public on Jan. 27. The Charlotte-based window and door maker company raised $575 million in the offering.
Ingles Market (IMKTA) 6.5% – The Asheville-based grocery chain said its comparable-store sales increased 1.8% in the first quarter.
The weakest performers:
Hanesbrands HBI (-17%) – Earnings and revenue hit record levels, but growth disappointed investors. The apparel company has declined 24% over the last year.
Benefitfocus BNFT (-7.7%) – Benefits-management software company said it made a profit before earnings and taxes earlier than expected, but investors weren’t impressed. Net losses have totaled $155 million in the last three years.
Nucor NUE (-6%) – Charlotte-based steel company reported profit of $796 million in 2016. Shares gained 44% in the last year.