Hanesbrands (NYSE:HBI) Reaches New 12-Month High – What’s Next?

by · The Markets Daily

Shares of Hanesbrands Inc. (NYSE:HBI – Get Free Report) hit a new 52-week high during trading on Tuesday . The company traded as high as $7.45 and last traded at $7.43, with a volume of 613119 shares trading hands. The stock had previously closed at $7.28.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on HBI. Stifel Nicolaus upped their price objective on Hanesbrands from $4.50 to $6.00 and gave the company a “hold” rating in a research note on Monday, August 12th. UBS Group upped their price target on shares of Hanesbrands from $5.00 to $6.50 and gave the company a “neutral” rating in a research report on Tuesday, August 27th. Finally, Barclays lifted their price target on shares of Hanesbrands from $5.00 to $6.00 and gave the stock an “equal weight” rating in a report on Monday, August 12th. Six investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $5.80.

Check Out Our Latest Research Report on Hanesbrands

Hanesbrands Trading Up 1.2 %

The company has a debt-to-equity ratio of 50.06, a current ratio of 1.46 and a quick ratio of 0.86. The firm has a market cap of $2.59 billion, a price-to-earnings ratio of -123.83 and a beta of 1.58. The firm’s fifty day moving average is $6.58 and its 200-day moving average is $5.57.

Hanesbrands (NYSE:HBI – Get Free Report) last announced its earnings results on Thursday, August 8th. The textile maker reported $0.15 EPS for the quarter, beating the consensus estimate of $0.10 by $0.05. Hanesbrands had a positive return on equity of 33.23% and a negative net margin of 6.02%. The company had revenue of $995.40 million for the quarter, compared to analyst estimates of $1.35 billion. During the same quarter in the prior year, the company earned ($0.01) EPS. The firm’s revenue for the quarter was down 3.8% compared to the same quarter last year. Equities analysts anticipate that Hanesbrands Inc. will post 0.34 earnings per share for the current year.

Institutional Investors Weigh In On Hanesbrands

A number of large investors have recently bought and sold shares of the stock. Concord Wealth Partners increased its holdings in shares of Hanesbrands by 220.3% during the first quarter. Concord Wealth Partners now owns 5,260 shares of the textile maker’s stock valued at $31,000 after acquiring an additional 3,618 shares in the last quarter. Tradewinds Capital Management LLC bought a new stake in Hanesbrands during the 1st quarter valued at $35,000. Rothschild Investment LLC acquired a new position in Hanesbrands during the second quarter worth $39,000. Hollencrest Capital Management bought a new position in shares of Hanesbrands in the first quarter valued at $41,000. Finally, Future Financial Wealth Managment LLC acquired a new position in shares of Hanesbrands during the first quarter valued at about $44,000. 80.31% of the stock is currently owned by institutional investors and hedge funds.

Hanesbrands Company Profile

(Get Free Report)

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.

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