Hanesbrands Inc. (NYSE:HBI) Sees Large Drop in Short Interest

Hanesbrands Inc. (NYSE:HBI) was the target of a large decline in short interest in the month of September. As of September 30th, there was short interest totalling 47,350,000 shares, a decline of 10.0% from the September 15th total of 52,590,000 shares. Approximately 13.6% of the shares of the company are sold short. Based on an average daily volume of 8,760,000 shares, the days-to-cover ratio is presently 5.4 days.

Wall Street Analysts Forecast Growth

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

Hanesbrands Price Performance

NYSE:HBI traded up $0.11 during trading hours on Thursday, reaching $7.47. 4,385,126 shares of the company were exchanged, compared to its average volume of 7,938,389. The company has a current ratio of 1.46, a quick ratio of 0.86 and a debt-to-equity ratio of 50.06. Hanesbrands has a twelve month low of $3.58 and a twelve month high of $7.52. The firm has a market cap of $2.63 billion, a PE ratio of -123.50 and a beta of 1.58. The stock’s 50-day moving average is $6.66 and its 200-day moving average is $5.60.

Hanesbrands (NYSE:HBI) last released its earnings results on Thursday, August 8th. The textile maker reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.05. Hanesbrands had a positive return on equity of 33.23% and a negative net margin of 6.02%. The business had revenue of $995.40 million for the quarter, compared to the consensus estimate of $1.35 billion. During the same quarter last year, the business posted ($0.01) earnings per share. The business’s quarterly revenue was down 3.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Hanesbrands will post 0.34 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Concord Wealth Partners raised its stake in Hanesbrands by 220.3% during the first quarter. Concord Wealth Partners now owns 5,260 shares of the textile maker’s stock worth $31,000 after purchasing an additional 3,618 shares during the period. Tradewinds Capital Management LLC acquired a new stake in shares of Hanesbrands during the 1st quarter worth approximately $35,000. Rothschild Investment LLC purchased a new stake in shares of Hanesbrands during the 2nd quarter valued at approximately $39,000. Hollencrest Capital Management purchased a new position in Hanesbrands in the first quarter worth approximately $41,000. Finally, Future Financial Wealth Managment LLC acquired a new stake in Hanesbrands during the first quarter worth $44,000. 80.31% of the stock is owned by hedge funds and other 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.