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

Hanesbrands Inc. (NYSE:HBI)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $8.04, but opened at $8.45. Hanesbrands shares last traded at $8.19, with a volume of 323,163 shares trading hands.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Barclays boosted 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. UBS Group raised shares of Hanesbrands from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $9.00 to $11.00 in a research report on Tuesday, November 26th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $6.90.

Hanesbrands Stock Performance

The stock has a market capitalization of $2.87 billion, a P/E ratio of -12.36 and a beta of 1.63. The stock has a 50 day simple moving average of $8.36 and a two-hundred day simple moving average of $7.38. The company has a quick ratio of 0.90, a current ratio of 1.49 and a debt-to-equity ratio of 21.50.

Hanesbrands (NYSE:HBI) last released its earnings results on Thursday, November 7th. The textile maker reported $0.15 earnings per share for the quarter, beating the consensus estimate 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 last year, the business earned $0.10 earnings per share. The firm’s revenue was down 2.5% on a year-over-year basis. On average, equities analysts forecast that Hanesbrands Inc. will post 0.39 EPS for the current fiscal year.

Institutional Investors Weigh In On Hanesbrands

Several hedge funds have recently bought and sold shares of the company. Sanctuary Advisors LLC raised its stake in Hanesbrands by 2.2% in the fourth quarter. Sanctuary Advisors LLC now owns 58,714 shares of the textile maker’s stock valued at $498,000 after buying an additional 1,277 shares during the period. Blue Trust Inc. increased its holdings in shares of 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 acquiring an additional 1,594 shares during the last quarter. GAMMA Investing LLC raised its stake in Hanesbrands by 39.7% in the 4th quarter. GAMMA Investing LLC now owns 6,669 shares of the textile maker’s stock valued at $54,000 after acquiring an additional 1,895 shares during the period. Avior Wealth Management LLC lifted its holdings in Hanesbrands by 3.5% during the 4th quarter. Avior Wealth Management LLC now owns 56,700 shares of the textile maker’s stock valued at $462,000 after purchasing an additional 1,900 shares during the last quarter. Finally, New York State Common Retirement Fund boosted its position in Hanesbrands by 2.3% during the fourth quarter. New York State Common Retirement Fund now owns 109,606 shares of the textile maker’s stock worth $892,000 after purchasing an additional 2,436 shares during the period. 80.31% of the stock is currently owned by institutional investors and hedge funds.

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.