Hanesbrands Sees Unusually High Options Volume (NYSE:HBI)

Hanesbrands Inc. (NYSE:HBI) saw some unusual options trading on Monday. Stock investors purchased 10,629 call options on the stock. This is an increase of 297% compared to the typical daily volume of 2,675 call options.

Institutional Investors Weigh In On Hanesbrands

Institutional investors have recently made changes to their positions in the stock. FMR LLC boosted its holdings in Hanesbrands by 203.5% in the 3rd quarter. FMR LLC now owns 115,833 shares of the textile maker’s stock valued at $851,000 after purchasing an additional 77,669 shares during the period. Hennessy Advisors Inc. bought a new position in Hanesbrands in the 4th quarter worth about $62,199,000. International Assets Investment Management LLC raised its holdings in shares of Hanesbrands by 481.0% in the 3rd quarter. International Assets Investment Management LLC now owns 520,037 shares of the textile maker’s stock valued at $3,822,000 after acquiring an additional 430,534 shares in the last quarter. Whittier Trust Co. bought a new stake in shares of Hanesbrands during the 3rd quarter valued at about $51,000. Finally, Landscape Capital Management L.L.C. purchased a new position in shares of Hanesbrands during the third quarter worth about $785,000. Hedge funds and other institutional investors own 80.31% of the company’s stock.

Hanesbrands Trading Down 0.6 %

Shares of HBI traded down $0.05 during trading hours on Monday, hitting $7.50. 2,302,634 shares of the stock were exchanged, compared to its average volume of 4,433,437. The business has a 50-day moving average of $8.32 and a 200-day moving average of $7.43. Hanesbrands has a fifty-two week low of $4.06 and a fifty-two week high of $9.10. The company has a debt-to-equity ratio of 21.50, a current ratio of 1.49 and a quick ratio of 0.90. The firm has a market capitalization of $2.64 billion, a P/E ratio of -11.36 and a beta of 1.63.

Hanesbrands (NYSE:HBI) last posted its quarterly earnings data on Thursday, November 7th. The textile maker reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.04. Hanesbrands had a negative net margin of 5.24% and a positive return on equity of 44.72%. The firm had revenue of $937.10 million for the quarter, compared to the consensus estimate of $936.47 million. During the same period in the previous year, the firm earned $0.10 EPS. The business’s revenue for the quarter was down 2.5% compared to the same quarter last year. On average, research analysts expect that Hanesbrands will post 0.39 EPS for the current year.

Analyst Upgrades and Downgrades

HBI has been the subject of a number of analyst reports. UBS Group raised shares of Hanesbrands from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $9.00 to $11.00 in a report on Tuesday, November 26th. Barclays boosted their price objective on shares of Hanesbrands from $6.00 to $7.00 and gave the stock an “equal weight” rating in a research report 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, the stock presently has a consensus rating of “Hold” and an average target price of $6.90.

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.