Hanesbrands (NYSE:HBI) Sets New 12-Month High – Should You Buy?

Hanesbrands Inc. (NYSE:HBI) shares reached a new 52-week high during trading on Monday . The stock traded as high as $8.73 and last traded at $8.70, with a volume of 159853 shares changing hands. The stock had previously closed at $8.54.

Analysts Set New Price Targets

Several research analysts have weighed in on HBI shares. Barclays lifted their target price on Hanesbrands from $6.00 to $7.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. Stifel Nicolaus lifted 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 upped their price objective on shares of Hanesbrands from $5.00 to $6.50 and gave the stock a “neutral” rating in a research report on Tuesday, August 27th. Five investment analysts have rated the stock with a hold rating, According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $6.00.

Hanesbrands Trading Up 0.7 %

The company has a current ratio of 1.49, a quick ratio of 0.90 and a debt-to-equity ratio of 21.50. The business has a 50 day moving average price of $7.37 and a 200-day moving average price of $6.13. The firm has a market capitalization of $3.03 billion, a PE ratio of -13.39 and a beta of 1.58.

Hanesbrands (NYSE:HBI) last released its quarterly earnings data on Thursday, November 7th. The textile maker reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.04. The firm 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 in the prior year, the business posted $0.10 earnings per share. Analysts expect that Hanesbrands Inc. will post 0.39 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in HBI. Blue Trust Inc. grew its holdings in shares of Hanesbrands by 42.3% in the 3rd quarter. Blue Trust Inc. now owns 5,359 shares of the textile maker’s stock worth $39,000 after acquiring an additional 1,594 shares during the period. Alpha Omega Wealth Management LLC grew its holdings 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 purchasing an additional 2,072 shares during the last quarter. Arizona State Retirement System increased its position in shares of 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 buying an additional 2,221 shares in the last quarter. Evergreen Capital Management LLC raised its stake 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 worth $185,000 after buying an additional 2,316 shares during the last quarter. Finally, Louisiana State Employees Retirement System boosted its position in shares of Hanesbrands by 2.0% in the 2nd quarter. Louisiana State Employees Retirement System now owns 176,900 shares of the textile maker’s stock worth $872,000 after buying an additional 3,500 shares in the last quarter. 80.31% of the stock is 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.