Hanesbrands (NYSE:HBI) Shares Gap Up – Still a Buy?

Hanesbrands Inc. (NYSE:HBI)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $8.45, but opened at $8.93. Hanesbrands shares last traded at $8.73, with a volume of 1,005,680 shares traded.

Wall Street Analysts Forecast Growth

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

Hanesbrands Stock Down 1.1 %

The business’s 50 day simple moving average is $7.45 and its 200 day simple moving average is $6.19. The company has a market capitalization of $3.08 billion, a PE ratio of -13.25 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.

Hanesbrands (NYSE:HBI) last issued its earnings results on Thursday, November 7th. The textile maker reported $0.15 EPS for the quarter, topping the consensus estimate of $0.11 by $0.04. The business had revenue of $937.10 million during the quarter, compared to analysts’ expectations of $936.47 million. Hanesbrands had a positive return on equity of 44.72% and a negative net margin of 5.24%. Hanesbrands’s revenue was down 2.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.10 earnings per share. As a group, analysts forecast that Hanesbrands Inc. will post 0.39 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in HBI. Blue Trust Inc. raised its stake in shares of Hanesbrands by 42.3% during the 3rd 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 in the last quarter. Whittier Trust Co. bought a new position in shares of Hanesbrands in the 3rd quarter valued at approximately $51,000. Rothschild Investment LLC acquired a new stake in Hanesbrands in the 2nd quarter worth approximately $39,000. Intech Investment Management LLC bought a new stake in Hanesbrands during the second quarter worth approximately $51,000. Finally, ERTS Wealth Advisors LLC acquired a new position in Hanesbrands during the third quarter valued at approximately $76,000. Institutional investors and hedge funds 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.