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

Hanesbrands Inc. (NYSE:HBI) 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 changing hands. The stock had previously closed at $7.21.

Analyst Upgrades and Downgrades

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

Hanesbrands Trading Down 4.7 %

The firm has a market capitalization of $2.81 billion, a price-to-earnings ratio of -9.38 and a beta of 1.58. 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’s 50-day simple moving average is $6.98 and its 200 day simple moving average is $5.84.

Hanesbrands (NYSE:HBI) last posted its earnings results on Thursday, November 7th. The textile maker reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.04. The firm had revenue of $937.10 million for the quarter, compared to analysts’ expectations of $936.47 million. Hanesbrands had a negative net margin of 6.02% and a positive return on equity of 33.23%. The company’s revenue was down 2.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.10 earnings per share. Equities analysts expect that Hanesbrands Inc. will post 0.34 earnings per share for the current year.

Institutional Trading of Hanesbrands

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of Hanesbrands by 3.5% in the first quarter. Vanguard Group Inc. now owns 40,265,899 shares of the textile maker’s stock worth $233,542,000 after purchasing an additional 1,362,140 shares during the last quarter. Loews Corp grew its stake in shares of Hanesbrands by 108.7% in the second quarter. Loews Corp now owns 29,197,796 shares of the textile maker’s stock worth $143,945,000 after purchasing an additional 15,206,007 shares during the last quarter. Cooke & Bieler LP boosted its position in Hanesbrands by 2.1% during the second quarter. Cooke & Bieler LP now owns 16,329,763 shares of the textile maker’s stock valued at $80,506,000 after acquiring an additional 342,056 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Hanesbrands by 18.2% during the second quarter. Dimensional Fund Advisors LP now owns 6,661,235 shares of the textile maker’s stock valued at $32,836,000 after acquiring an additional 1,024,308 shares during the last quarter. Finally, Brandes Investment Partners LP boosted its position in Hanesbrands by 3.9% during the second quarter. Brandes Investment Partners LP now owns 4,834,202 shares of the textile maker’s stock valued at $23,761,000 after acquiring an additional 183,069 shares during the last quarter. Institutional investors own 80.31% of the company’s stock.

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.