Hanesbrands (NYSE:HBI) Hits New 12-Month High at $7.03

Hanesbrands Inc. (NYSE:HBI)’s stock price hit a new 52-week high during trading on Thursday . The stock traded as high as $7.03 and last traded at $7.03, with a volume of 77791 shares. The stock had previously closed at $6.85.

Analyst Ratings Changes

Several brokerages have recently weighed in on HBI. Barclays raised their price objective on Hanesbrands from $5.00 to $6.00 and gave the company an “equal weight” rating in a report on Monday, August 12th. UBS Group raised their target price on shares of Hanesbrands from $5.00 to $6.50 and gave the company a “neutral” rating in a research note on Tuesday, August 27th. Stifel Nicolaus upped their price target on shares of Hanesbrands from $4.50 to $6.00 and gave the stock a “hold” rating in a research report on Monday, August 12th. Finally, Wedbush reissued a “neutral” rating and issued a $5.00 price objective on shares of Hanesbrands in a research report on Thursday, June 6th. Six investment analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $5.80.

Hanesbrands Trading Up 0.6 %

The business has a 50 day moving average of $6.07 and a two-hundred day moving average of $5.38. The firm has a market cap of $2.46 billion, a P/E ratio of -116.50 and a beta of 1.57. The company has a current ratio of 1.46, a quick ratio of 0.86 and a debt-to-equity ratio of 50.06.

Hanesbrands (NYSE:HBI) last issued its quarterly earnings data on Thursday, August 8th. The textile maker reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.05. The company 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 company’s revenue was down 3.8% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.01) earnings per share. Analysts predict that Hanesbrands Inc. will post 0.35 earnings per share for the current year.

Hedge Funds Weigh In On Hanesbrands

Large investors have recently made changes to their positions in the company. Alpha Omega Wealth Management LLC boosted its stake 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 valued at $778,000 after buying an additional 2,072 shares in the last quarter. Arizona State Retirement System boosted its stake in shares of Hanesbrands by 2.3% in the 2nd quarter. Arizona State Retirement System now owns 98,420 shares of the textile maker’s stock valued at $485,000 after purchasing an additional 2,221 shares in the last quarter. Evergreen Capital Management LLC grew its holdings in shares of Hanesbrands by 6.6% during the 2nd quarter. Evergreen Capital Management LLC now owns 37,454 shares of the textile maker’s stock valued at $185,000 after purchasing an additional 2,316 shares during the last quarter. Platinum Investment Management Ltd. increased its position in Hanesbrands by 12.8% during the 4th quarter. Platinum Investment Management Ltd. now owns 24,779 shares of the textile maker’s stock worth $111,000 after purchasing an additional 2,812 shares in the last quarter. Finally, Avantax Advisory Services Inc. lifted its stake in Hanesbrands by 13.6% in the 1st 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 during the last quarter. 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.