Hanesbrands (NYSE:HBI) Trading Up 5.3% – What’s Next?

Shares of Hanesbrands Inc. (NYSE:HBI) traded up 5.3% during trading on Tuesday . The stock traded as high as $6.29 and last traded at $6.44. 653,874 shares changed hands during mid-day trading, a decline of 90% from the average session volume of 6,430,924 shares. The stock had previously closed at $6.11.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Stifel Nicolaus reissued a “hold” rating and issued a $7.00 price objective (down from $8.00) on shares of Hanesbrands in a research report on Friday, February 14th. UBS Group raised Hanesbrands from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $9.00 to $11.00 in a research report on Tuesday, November 26th. Finally, 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 research report on Monday, November 11th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $7.10.

Hanesbrands Price Performance

The company has a debt-to-equity ratio of 64.28, a current ratio of 1.37 and a quick ratio of 0.68. The firm has a market cap of $2.25 billion, a price-to-earnings ratio of -6.94 and a beta of 1.63. The business’s 50-day moving average price is $7.86 and its two-hundred day moving average price is $7.49.

Hanesbrands (NYSE:HBI) last announced its quarterly earnings data on Thursday, February 13th. The textile maker reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.03. The firm had revenue of $888.47 million during the quarter, compared to analyst estimates of $899.30 million. Hanesbrands had a positive return on equity of 108.01% and a negative net margin of 8.06%. On average, research analysts forecast that Hanesbrands Inc. will post 0.53 EPS for the current fiscal year.

Insider Buying and Selling

In other Hanesbrands news, Director Robert F. Moran purchased 74,850 shares of the stock in a transaction dated Tuesday, February 18th. The shares were acquired at an average price of $6.01 per share, for a total transaction of $449,848.50. Following the completion of the acquisition, the director now owns 216,373 shares of the company’s stock, valued at $1,300,401.73. This represents a 52.89 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.46% of the company’s stock.

Institutional Investors Weigh In On Hanesbrands

A number of hedge funds have recently bought and sold shares of the company. GeoWealth Management LLC grew its holdings in Hanesbrands by 2,278.8% in the 4th quarter. GeoWealth Management LLC now owns 3,473 shares of the textile maker’s stock valued at $28,000 after buying an additional 3,327 shares during the last quarter. Blue Trust Inc. boosted 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 valued at $39,000 after acquiring an additional 1,594 shares during the period. Smartleaf Asset Management LLC increased its position in Hanesbrands by 122.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 4,920 shares of the textile maker’s stock worth $40,000 after acquiring an additional 2,712 shares during the period. Transce3nd LLC acquired a new position in Hanesbrands during the 4th quarter valued at $45,000. Finally, WFA Asset Management Corp bought a new stake in Hanesbrands in the 4th quarter valued at $46,000. 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.