Hanesbrands (NYSE:HBI) Sets New 12-Month High at $6.81

Hanesbrands Inc. (NYSE:HBI)’s stock price reached a new 52-week high during mid-day trading on Friday . The company traded as high as $6.81 and last traded at $6.80, with a volume of 2405694 shares trading hands. The stock had previously closed at $6.40.

Analyst Upgrades and Downgrades

HBI has been the topic of several analyst reports. Barclays raised their price target on shares of Hanesbrands from $5.00 to $6.00 and gave the stock an “equal weight” rating in a research note on Monday, August 12th. Stifel Nicolaus raised their target price on shares of Hanesbrands from $4.50 to $6.00 and gave the stock a “hold” rating in a research report on Monday, August 12th. Wedbush reiterated a “neutral” rating and issued a $5.00 price target on shares of Hanesbrands in a report on Thursday, June 6th. Finally, UBS Group increased their price target on Hanesbrands from $5.00 to $6.50 and gave the stock a “neutral” rating in a research note on Tuesday, August 27th. Six analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $5.80.

Hanesbrands Price Performance

The company’s 50-day moving average is $5.87 and its 200-day moving average is $5.33. The firm has a market capitalization of $2.38 billion, a price-to-earnings ratio of -112.67 and a beta of 1.57. The company has a debt-to-equity ratio of 50.06, a current ratio of 1.46 and a quick ratio of 0.86.

Hanesbrands (NYSE:HBI) last announced its quarterly earnings data on Thursday, August 8th. The textile maker reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.05. The company had revenue of $995.40 million during the quarter, compared to analysts’ expectations of $1.35 billion. Hanesbrands had a negative net margin of 6.02% and a positive return on equity of 33.23%. The business’s quarterly revenue was down 3.8% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.01) EPS. On average, research analysts expect that Hanesbrands Inc. will post 0.35 earnings per share for the current year.

Hedge Funds Weigh In On Hanesbrands

Several hedge funds and other institutional investors have recently modified their holdings of HBI. Loews Corp increased its position in Hanesbrands by 108.7% during the 2nd 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 in the last quarter. Gate City Capital Management LLC acquired a new stake in shares of Hanesbrands in the fourth quarter worth $9,812,000. Morningstar Investment Services LLC raised its stake in shares of Hanesbrands by 93.1% in the 4th quarter. Morningstar Investment Services LLC now owns 4,290,891 shares of the textile maker’s stock valued at $19,051,000 after acquiring an additional 2,069,204 shares during the period. Vanguard Group Inc. raised its stake in shares of Hanesbrands by 3.5% in the 1st quarter. Vanguard Group Inc. now owns 40,265,899 shares of the textile maker’s stock valued at $233,542,000 after acquiring an additional 1,362,140 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Hanesbrands by 18.2% during the 2nd 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 in the last quarter. 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.