Hanesbrands Target of Unusually Large Options Trading (NYSE:HBI)

Hanesbrands Inc. (NYSE:HBI) was the target of unusually large options trading activity on Thursday. Stock traders acquired 4,055 call options on the stock. This represents an increase of 96% compared to the typical daily volume of 2,070 call options.

Hanesbrands Trading Up 18.0 %

NYSE:HBI opened at $8.38 on Friday. The company has a debt-to-equity ratio of 50.06, a current ratio of 1.46 and a quick ratio of 0.86. Hanesbrands has a 1 year low of $3.58 and a 1 year high of $8.70. The company has a market cap of $2.95 billion, a P/E ratio of -9.86 and a beta of 1.58. The stock’s fifty day moving average price is $6.98 and its two-hundred day moving average price is $5.84.

Hanesbrands (NYSE:HBI) last announced its quarterly earnings results on Thursday, August 8th. The textile maker reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.05. The firm had revenue of $995.40 million for the quarter, compared to the consensus estimate of $1.35 billion. Hanesbrands had a negative net margin of 6.02% and a positive return on equity of 33.23%. The company’s revenue for the quarter was down 3.8% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.01) earnings per share. As a group, analysts expect that Hanesbrands will post 0.34 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. UBS Group upped their price objective on Hanesbrands from $5.00 to $6.50 and gave the company a “neutral” rating in a research note on Tuesday, August 27th. Barclays upped their price objective on Hanesbrands from $5.00 to $6.00 and gave the company an “equal weight” rating in a research note on Monday, August 12th. Finally, Stifel Nicolaus boosted their target price on Hanesbrands from $4.50 to $6.00 and gave the company a “hold” rating in a research note on Monday, August 12th. Six equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, Hanesbrands has a consensus rating of “Hold” and an average target price of $5.80.

Institutional Trading of Hanesbrands

Several institutional investors and hedge funds have recently bought and sold shares of the company. 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. Alpha Omega Wealth Management LLC grew its position in Hanesbrands by 1.3% in the second quarter. Alpha Omega Wealth Management LLC now owns 157,903 shares of the textile maker’s stock worth $778,000 after acquiring an additional 2,072 shares in the last quarter. Arizona State Retirement System increased its stake in Hanesbrands by 2.3% in the second quarter. Arizona State Retirement System now owns 98,420 shares of the textile maker’s stock valued at $485,000 after acquiring an additional 2,221 shares during the last quarter. Evergreen Capital Management LLC increased its stake in Hanesbrands by 6.6% in the second quarter. Evergreen Capital Management LLC now owns 37,454 shares of the textile maker’s stock valued at $185,000 after acquiring an additional 2,316 shares during the last quarter. Finally, Avantax Advisory Services Inc. raised its position in Hanesbrands by 13.6% during the first quarter. Avantax Advisory Services Inc. now owns 25,432 shares of the textile maker’s stock valued at $148,000 after purchasing an additional 3,043 shares in the last quarter. 80.31% of the stock is currently owned by hedge funds and other 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.