Hanesbrands (NYSE:HBI) Sees Unusually-High Trading Volume – Still a Buy?

by · The Cerbat Gem

Hanesbrands Inc. (NYSE:HBI – Get Free Report) saw unusually-high trading volume on Friday . Approximately 13,293,245 shares were traded during trading, an increase of 84% from the previous session’s volume of 7,234,707 shares.The stock last traded at $6.5150 and had previously closed at $6.59.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Citigroup boosted their price objective on shares of Hanesbrands from $5.50 to $7.00 and gave the company a “neutral” rating in a research report on Thursday, October 23rd. Weiss Ratings restated a “hold (c-)” rating on shares of Hanesbrands in a report on Wednesday, October 8th. Wall Street Zen raised Hanesbrands from a “hold” rating to a “strong-buy” rating in a research report on Saturday, August 9th. UBS Group lifted their price objective on Hanesbrands from $8.00 to $9.00 and gave the stock a “buy” rating in a research report on Friday, August 8th. Finally, Wells Fargo & Company raised Hanesbrands from a “strong sell” rating to an “equal weight” rating and boosted their target price for the company from $5.00 to $6.00 in a research note on Thursday, August 14th. One research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $6.60.

Read Our Latest Report on Hanesbrands

Hanesbrands Stock Up 0.2%

The company has a quick ratio of 0.71, a current ratio of 1.51 and a debt-to-equity ratio of 4.94. The company’s fifty day simple moving average is $6.67 and its 200 day simple moving average is $5.72. The firm has a market capitalization of $2.34 billion, a PE ratio of 7.18 and a beta of 1.50.

Hanesbrands (NYSE:HBI – Get Free Report) last announced its quarterly earnings data on Thursday, November 6th. The textile maker reported $0.15 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.01). Hanesbrands had a net margin of 9.34% and a return on equity of 129.43%. The firm had revenue of $891.68 million for the quarter, compared to analysts’ expectations of $905.37 million. During the same period in the prior year, the business posted $0.15 EPS. The business’s quarterly revenue was down 1.0% compared to the same quarter last year. Analysts anticipate that Hanesbrands Inc. will post 0.53 earnings per share for the current fiscal year.

Institutional Trading of Hanesbrands

Hedge funds have recently made changes to their positions in the stock. CIBC Bancorp USA Inc. bought a new position in Hanesbrands during the 3rd quarter valued at approximately $247,000. Morningstar Investment Management LLC purchased a new stake in shares of Hanesbrands in the third quarter worth $1,454,000. CANADA LIFE ASSURANCE Co grew its stake in shares of Hanesbrands by 1.4% in the third quarter. CANADA LIFE ASSURANCE Co now owns 362,291 shares of the textile maker’s stock worth $2,373,000 after acquiring an additional 4,968 shares during the last quarter. Dark Forest Capital Management LP bought a new position in shares of Hanesbrands during the third quarter valued at $1,887,000. Finally, Water Island Capital LLC purchased a new position in shares of Hanesbrands in the 3rd quarter worth about $14,924,000. 80.31% of the stock is owned by institutional investors.

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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