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

Hanesbrands Inc. (NYSE:HBI)’s stock price hit a new 52-week high on Monday . The stock traded as high as $8.73 and last traded at $8.70, with a volume of 159853 shares trading hands. The stock had previously closed at $8.54.

Wall Street Analyst Weigh In

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

Hanesbrands Stock Up 4.6 %

The stock’s fifty day moving average is $7.41 and its two-hundred day moving average is $6.16. The company has a current ratio of 1.49, a quick ratio of 0.90 and a debt-to-equity ratio of 21.50. The company has a market capitalization of $3.11 billion, a PE ratio of -13.67 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 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.04. Hanesbrands had a negative net margin of 5.24% and a positive return on equity of 44.72%. The company had revenue of $937.10 million for the quarter, compared to analysts’ expectations of $936.47 million. During the same quarter in the previous year, the firm posted $0.10 EPS. Hanesbrands’s revenue was down 2.5% on a year-over-year basis. As a group, analysts predict that Hanesbrands Inc. will post 0.39 EPS for the current year.

Institutional Investors Weigh In On Hanesbrands

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HBI. Vanguard Group Inc. grew its position 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 valued at $233,542,000 after purchasing an additional 1,362,140 shares in the last quarter. International Assets Investment Management LLC boosted its position in shares of Hanesbrands by 481.0% in the third quarter. International Assets Investment Management LLC now owns 520,037 shares of the textile maker’s stock valued at $3,822,000 after acquiring an additional 430,534 shares during the period. Brandes Investment Partners LP increased its holdings in Hanesbrands by 3.9% during the 2nd quarter. Brandes Investment Partners LP now owns 4,834,202 shares of the textile maker’s stock worth $23,761,000 after acquiring an additional 183,069 shares during the period. Whittier Trust Co. purchased a new stake in Hanesbrands in the 3rd quarter worth approximately $51,000. Finally, Landscape Capital Management L.L.C. purchased a new position in shares of Hanesbrands during the 3rd quarter valued at $785,000. 80.31% of the stock is currently owned by institutional investors.

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.