Hanesbrands (NYSE:HBI) Hits New 52-Week High at $5.86

Shares of Hanesbrands Inc. (NYSE:HBI) hit a new 52-week high on Thursday . The stock traded as high as $5.86 and last traded at $5.79, with a volume of 1515547 shares traded. The stock had previously closed at $5.60.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Stifel Nicolaus decreased their price objective on Hanesbrands from $5.00 to $4.50 and set a “hold” rating for the company in a research note on Thursday, December 14th. Citigroup decreased their price objective on Hanesbrands from $5.00 to $4.50 and set a “neutral” rating for the company in a research note on Friday, February 16th. Five equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $4.90.

Hanesbrands Price Performance

The company has a debt-to-equity ratio of 7.72, a quick ratio of 0.65 and a current ratio of 1.64. The business has a 50 day moving average of $4.90 and a two-hundred day moving average of $4.39.

Hanesbrands (NYSE:HBI) last announced its earnings results on Thursday, February 15th. The textile maker reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same period in the prior year, the company earned $0.07 earnings per share. The company’s quarterly revenue was down 12.0% on a year-over-year basis. As a group, equities analysts forecast that Hanesbrands Inc. will post 0.44 EPS for the current fiscal year.

Institutional Inflows and Outflows

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

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.