Hanesbrands (NYSE:HBI) Shares Gap Up – Should You Buy?

Hanesbrands Inc. (NYSE:HBI)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $8.45, but opened at $8.93. Hanesbrands shares last traded at $8.73, with a volume of 1,005,680 shares.

Analyst Upgrades and Downgrades

HBI has been the subject of a number of recent analyst reports. Barclays increased their target price on shares of Hanesbrands from $6.00 to $7.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. UBS Group raised shares of Hanesbrands from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $9.00 to $11.00 in a research note on Tuesday. Finally, Stifel Nicolaus upped their price target on shares of Hanesbrands from $4.50 to $6.00 and gave the company a “hold” rating in a research report on Monday, August 12th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $6.90.

Hanesbrands Stock Up 3.1 %

The company has a debt-to-equity ratio of 21.50, a quick ratio of 0.90 and a current ratio of 1.49. The firm’s 50 day moving average price is $7.41 and its two-hundred day moving average price is $6.16. The company has a market cap of $3.07 billion, a P/E ratio of -12.80 and a beta of 1.58.

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

Hedge Funds Weigh In On Hanesbrands

A number of institutional investors have recently modified their holdings of the company. Rothschild Investment LLC bought a new stake in Hanesbrands during the 2nd quarter valued at $39,000. Blue Trust Inc. increased its position in shares of Hanesbrands by 42.3% during the third quarter. Blue Trust Inc. now owns 5,359 shares of the textile maker’s stock worth $39,000 after acquiring an additional 1,594 shares in the last quarter. Intech Investment Management LLC acquired a new stake in shares of Hanesbrands in the 2nd quarter worth about $51,000. Whittier Trust Co. bought a new position in Hanesbrands in the 3rd quarter valued at about $51,000. Finally, Fifth Third Wealth Advisors LLC acquired a new position in Hanesbrands during the 2nd quarter valued at about $55,000. 80.31% of the stock is owned by institutional investors and hedge funds.

Hanesbrands Company Profile

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.