Hanesbrands (NYSE:HBI) Hits New 1-Year High – Here’s What Happened

Hanesbrands Inc. (NYSE:HBI)’s stock price hit a new 52-week high on Wednesday . The stock traded as high as $7.58 and last traded at $7.24, with a volume of 543569 shares trading hands. The stock had previously closed at $7.21.

Analysts Set New Price Targets

Several brokerages recently commented on HBI. UBS Group raised their price objective on shares of Hanesbrands from $5.00 to $6.50 and gave the company a “neutral” rating in a research note on Tuesday, August 27th. Barclays raised their price objective on shares of Hanesbrands from $5.00 to $6.00 and gave the company an “equal weight” rating in a research note on Monday, August 12th. Finally, Stifel Nicolaus raised their price objective on shares of Hanesbrands from $4.50 to $6.00 and gave the company a “hold” rating in a research note on Monday, August 12th. Six research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $5.80.

Hanesbrands Trading Down 1.5 %

The business’s 50-day moving average price is $6.92 and its two-hundred day moving average price is $5.81. The company has a debt-to-equity ratio of 50.06, a current ratio of 1.46 and a quick ratio of 0.86. The firm has a market cap of $2.50 billion, a price-to-earnings ratio of -8.47 and a beta of 1.58.

Hanesbrands (NYSE:HBI) last released its earnings results on Thursday, August 8th. The textile maker reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.05. Hanesbrands had a negative net margin of 6.02% and a positive return on equity of 33.23%. The firm had revenue of $995.40 million during the quarter, compared to the consensus estimate of $1.35 billion. During the same period in the previous year, the firm earned ($0.01) earnings per share. Hanesbrands’s revenue was down 3.8% compared to the same quarter last year. Equities analysts expect that Hanesbrands Inc. will post 0.34 earnings per share for the current year.

Institutional Investors Weigh In On Hanesbrands

Several institutional investors have recently bought and sold shares of HBI. Natixis Advisors LLC acquired a new position in shares of Hanesbrands during the third quarter worth $248,000. Aigen Investment Management LP acquired a new position in shares of Hanesbrands during the third quarter worth $652,000. Wealth Enhancement Advisory Services LLC lifted its position in shares of Hanesbrands by 8.9% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 115,226 shares of the textile maker’s stock worth $847,000 after purchasing an additional 9,457 shares in the last quarter. International Assets Investment Management LLC lifted its position in shares of Hanesbrands by 481.0% during the third quarter. International Assets Investment Management LLC now owns 520,037 shares of the textile maker’s stock worth $3,822,000 after purchasing an additional 430,534 shares in the last quarter. Finally, Whittier Trust Co. acquired a new position in shares of Hanesbrands during the third quarter worth $51,000. 80.31% of the stock is currently owned by hedge funds and other institutional investors.

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.