Hanesbrands (NYSE:HBI) Hits New 1-Year High at $5.86

Hanesbrands Inc. (NYSE:HBI)’s share price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $5.86 and last traded at $5.79, with a volume of 1515547 shares. The stock had previously closed at $5.60.

Wall Street Analysts Forecast Growth

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

Hanesbrands Stock Up 3.6 %

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

Hanesbrands (NYSE:HBI) last posted its earnings results on Thursday, February 15th. The textile maker reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $1.36 billion. During the same period last year, the business posted $0.07 earnings per share. The company’s revenue for the quarter was down 12.0% compared to the same quarter last year. Analysts predict that Hanesbrands Inc. will post 0.44 earnings per share for the current year.

Institutional Trading of Hanesbrands

A number of institutional investors have recently bought and sold shares of the stock. BlackRock Inc. lifted its position in shares of Hanesbrands by 16.6% during the first quarter. BlackRock Inc. now owns 46,483,518 shares of the textile maker’s stock worth $244,503,000 after purchasing an additional 6,630,208 shares during the last quarter. Loews Corp lifted its position in shares of Hanesbrands by 54.2% during the fourth quarter. Loews Corp now owns 16,500,000 shares of the textile maker’s stock worth $73,590,000 after purchasing an additional 5,800,000 shares during the last quarter. Millennium Management LLC lifted its position in shares of Hanesbrands by 991.4% during the fourth quarter. Millennium Management LLC now owns 3,896,974 shares of the textile maker’s stock worth $24,785,000 after purchasing an additional 3,539,911 shares during the last quarter. Balyasny Asset Management L.P. bought a new stake in shares of Hanesbrands during the first quarter worth $14,888,000. Finally, Arrowstreet Capital Limited Partnership lifted its position in shares of Hanesbrands by 2,900.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,354,491 shares of the textile maker’s stock worth $14,975,000 after purchasing an additional 2,276,017 shares during the last quarter. 80.31% of the stock is currently owned by institutional investors.

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.