Hanesbrands (NYSE:HBI) Reaches New 1-Year High – Here’s What Happened

Shares of Hanesbrands Inc. (NYSE:HBI) hit a new 52-week high on Wednesday . The company traded as high as $7.58 and last traded at $7.24, with a volume of 543569 shares trading hands. The stock had previously closed at $7.21.

Analyst Ratings Changes

Several analysts have recently issued reports on HBI shares. UBS Group upped their price target on Hanesbrands from $5.00 to $6.50 and gave the stock a “neutral” rating in a research note on Tuesday, August 27th. Barclays upped their price target on Hanesbrands from $5.00 to $6.00 and gave the stock an “equal weight” rating in a research note on Monday, August 12th. Finally, Stifel Nicolaus upped their price target on Hanesbrands from $4.50 to $6.00 and gave the stock 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 data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $5.80.

Hanesbrands Stock Performance

The firm has a market capitalization of $2.81 billion, a P/E ratio of -9.38 and a beta of 1.58. The stock has a 50-day moving average of $6.98 and a 200 day moving average of $5.84. The company has a debt-to-equity ratio of 50.06, a quick ratio of 0.86 and a current ratio of 1.46.

Hanesbrands (NYSE:HBI) last announced its quarterly earnings data on Thursday, November 7th. The textile maker reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.04. The firm had revenue of $937.10 million for the quarter, compared to analyst estimates of $936.47 million. Hanesbrands had a positive return on equity of 33.23% and a negative net margin of 6.02%. The business’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same period last year, the company earned $0.10 EPS. On average, research analysts anticipate that Hanesbrands Inc. will post 0.34 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in HBI. Rothschild Investment LLC acquired a new stake in Hanesbrands during the 2nd quarter worth $39,000. Blue Trust Inc. raised its stake in 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 buying an additional 1,594 shares during the period. Intech Investment Management LLC acquired a new stake in shares of Hanesbrands in the 2nd quarter valued at about $51,000. Whittier Trust Co. acquired a new stake in shares of Hanesbrands in the 3rd quarter valued at about $51,000. Finally, Fifth Third Wealth Advisors LLC acquired a new stake in shares of Hanesbrands in the 2nd quarter valued at about $55,000. Institutional investors and hedge funds 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.