Hanesbrands (NYSE:HBI) Reaches New 1-Year High – Here’s Why

Shares of Hanesbrands Inc. (NYSE:HBI) reached 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 traded. The stock had previously closed at $8.54.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on HBI. Stifel Nicolaus raised their target price on shares of Hanesbrands from $4.50 to $6.00 and gave the company a “hold” rating in a research note on Monday, August 12th. UBS Group raised Hanesbrands from a “neutral” rating to a “buy” rating and raised their price objective for the company from $9.00 to $11.00 in a report on Tuesday. Finally, Barclays increased their price target on shares of Hanesbrands from $6.00 to $7.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $6.90.

Hanesbrands Stock Up 4.6 %

The stock has a market cap of $3.11 billion, a P/E ratio of -13.67 and a beta of 1.58. The company has a quick ratio of 0.90, a current ratio of 1.49 and a debt-to-equity ratio of 21.50. The company has a 50-day simple moving average of $7.41 and a two-hundred day simple moving average of $6.16.

Hanesbrands (NYSE:HBI) last announced its quarterly earnings results on Thursday, November 7th. The textile maker reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.04. The business had revenue of $937.10 million for the quarter, compared to analyst estimates of $936.47 million. Hanesbrands had a negative net margin of 5.24% and a positive return on equity of 44.72%. The company’s revenue was down 2.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.10 EPS. On average, equities analysts forecast that Hanesbrands Inc. will post 0.39 EPS for the current year.

Institutional Investors Weigh In On Hanesbrands

Several institutional investors and hedge funds have recently bought and sold shares of HBI. Tidal Investments LLC bought a new position in shares of Hanesbrands during the third quarter valued at approximately $1,021,000. Optimist Retirement Group LLC bought a new position in Hanesbrands in the 3rd quarter worth $256,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Hanesbrands during the 3rd quarter valued at about $130,000. Geode Capital Management LLC increased its position in shares of Hanesbrands by 1.1% during the third quarter. Geode Capital Management LLC now owns 7,914,447 shares of the textile maker’s stock valued at $58,183,000 after buying an additional 89,367 shares during the period. Finally, XTX Topco Ltd bought a new position in Hanesbrands in the third quarter worth about $996,000. Hedge funds and other institutional investors own 80.31% of the company’s stock.

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.