Hanesbrands (NYSE:HBI) Hits New 12-Month High – Here’s What Happened

Shares of Hanesbrands Inc. (NYSE:HBI) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $7.43 and last traded at $7.43, with a volume of 1447561 shares. The stock had previously closed at $7.19.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Stifel Nicolaus lifted their price objective on Hanesbrands from $4.50 to $6.00 and gave the stock a “hold” rating in a report on Monday, August 12th. Barclays lifted their price objective on Hanesbrands from $5.00 to $6.00 and gave the stock an “equal weight” rating in a report on Monday, August 12th. Finally, UBS Group raised their target price on shares of 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, According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $5.80.

Hanesbrands Price Performance

The firm has a market capitalization of $2.61 billion, a PE ratio of -119.92 and a beta of 1.58. The company has a debt-to-equity ratio of 50.06, a quick ratio of 0.86 and a current ratio of 1.46. The stock’s 50 day simple moving average is $6.42 and its two-hundred day simple moving average is $5.51.

Hanesbrands (NYSE:HBI) last released its quarterly earnings results on Thursday, August 8th. The textile maker reported $0.15 EPS for the quarter, beating the consensus estimate of $0.10 by $0.05. The firm had revenue of $995.40 million for the quarter, compared to analyst estimates 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 revenue for the quarter was down 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.01) EPS. On average, sell-side analysts forecast that Hanesbrands Inc. will post 0.35 EPS for the current year.

Institutional Trading of Hanesbrands

Several institutional investors have recently made changes to their positions in HBI. Vanguard Group Inc. increased its holdings in 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 purchasing an additional 1,362,140 shares during the last quarter. GSA Capital Partners LLP acquired a new stake in Hanesbrands in the 1st quarter valued at approximately $1,093,000. Shell Asset Management Co. increased its holdings in Hanesbrands by 127.0% in the 1st quarter. Shell Asset Management Co. now owns 20,417 shares of the textile maker’s stock valued at $118,000 after purchasing an additional 11,423 shares during the last quarter. State Board of Administration of Florida Retirement System increased its holdings in Hanesbrands by 212.4% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 409,468 shares of the textile maker’s stock valued at $2,375,000 after purchasing an additional 278,383 shares during the last quarter. Finally, ProShare Advisors LLC increased its holdings in Hanesbrands by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 70,932 shares of the textile maker’s stock valued at $411,000 after purchasing an additional 4,881 shares during the last quarter. Hedge funds and other institutional investors own 80.31% of the company’s stock.

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.