Hanesbrands (NYSE:HBI) Shares Gap Up – Here’s What Happened

Shares of Hanesbrands Inc. (NYSE:HBI) 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 trading hands.

Analyst Ratings Changes

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

Hanesbrands Stock Performance

The stock has a market cap of $3.07 billion, a P/E ratio of -12.80 and a beta of 1.58. The company has a debt-to-equity ratio of 21.50, a current ratio of 1.49 and a quick ratio of 0.90. The stock has a 50-day simple moving average of $7.41 and a 200-day simple moving average of $6.16.

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 analysts’ consensus estimates of $0.11 by $0.04. Hanesbrands had a negative net margin of 5.24% and a positive return on equity of 44.72%. The business had revenue of $937.10 million during the quarter, compared to analysts’ expectations of $936.47 million. During the same period in the prior year, the company earned $0.10 EPS. The firm’s quarterly revenue was down 2.5% compared to the same quarter last year. Research analysts forecast that Hanesbrands Inc. will post 0.39 earnings per share for the current year.

Hedge Funds Weigh In On Hanesbrands

A number of institutional investors and hedge funds have recently bought and sold shares of HBI. Vanguard Group Inc. raised its holdings in Hanesbrands by 3.5% in the 1st quarter. Vanguard Group Inc. now owns 40,265,899 shares of the textile maker’s stock valued at $233,542,000 after buying an additional 1,362,140 shares during the last quarter. Shell Asset Management Co. raised its stake in shares of Hanesbrands by 127.0% during the first quarter. Shell Asset Management Co. now owns 20,417 shares of the textile maker’s stock valued at $118,000 after acquiring an additional 11,423 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Hanesbrands by 481.0% during the third quarter. International Assets Investment Management LLC now owns 520,037 shares of the textile maker’s stock worth $3,822,000 after purchasing an additional 430,534 shares during the period. Brandes Investment Partners LP grew its stake in shares of Hanesbrands by 3.9% in the second quarter. Brandes Investment Partners LP now owns 4,834,202 shares of the textile maker’s stock worth $23,761,000 after purchasing an additional 183,069 shares during the last quarter. Finally, Whittier Trust Co. acquired a new stake in Hanesbrands in the third quarter valued at $51,000. 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.