Hanesbrands (NYSE:HBI) Shares Gap Up – Time to Buy?

Hanesbrands Inc. (NYSE:HBI)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $8.04, but opened at $8.45. Hanesbrands shares last traded at $8.19, with a volume of 323,163 shares trading hands.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. UBS Group upgraded shares of Hanesbrands from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $9.00 to $11.00 in a report on Tuesday, November 26th. Barclays raised their price target on shares of Hanesbrands from $6.00 to $7.00 and gave the stock an “equal weight” rating in a research note on Monday, November 11th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $6.90.

Hanesbrands Trading Down 5.5 %

The company’s fifty day simple moving average is $8.35 and its 200 day simple moving average is $7.38. The company has a current ratio of 1.49, a quick ratio of 0.90 and a debt-to-equity ratio of 21.50.

Hanesbrands (NYSE:HBI) last released its quarterly earnings data on Thursday, November 7th. The textile maker reported $0.15 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $936.47 million. During the same period last year, the firm earned $0.10 EPS. Hanesbrands’s revenue for the quarter was down 2.5% on a year-over-year basis. On average, analysts anticipate that Hanesbrands Inc. will post 0.39 earnings per share for the current fiscal year.

Institutional Trading of Hanesbrands

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Smartleaf Asset Management LLC boosted its holdings in Hanesbrands by 122.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 4,920 shares of the textile maker’s stock valued at $40,000 after purchasing an additional 2,712 shares during the period. Blue Trust Inc. increased its position in shares of Hanesbrands by 42.3% in the third quarter. Blue Trust Inc. now owns 5,359 shares of the textile maker’s stock worth $39,000 after purchasing an additional 1,594 shares during the last quarter. WFA Asset Management Corp bought a new stake in Hanesbrands during the fourth quarter valued at approximately $46,000. GAMMA Investing LLC lifted its position in Hanesbrands by 39.7% during the fourth quarter. GAMMA Investing LLC now owns 6,669 shares of the textile maker’s stock valued at $54,000 after purchasing an additional 1,895 shares during the last quarter. Finally, Whittier Trust Co. bought a new position in shares of Hanesbrands in the 3rd quarter worth $51,000. 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.