Hanesbrands Inc. (NYSE:HBI) Sees Large Drop in Short Interest

by · The Cerbat Gem

Hanesbrands Inc. (NYSE:HBI – Get Free Report) saw a significant decrease in short interest in September. As of September 30th, there was short interest totalling 47,350,000 shares, a decrease of 10.0% from the September 15th total of 52,590,000 shares. Based on an average trading volume of 8,760,000 shares, the short-interest ratio is presently 5.4 days. Currently, 13.6% of the company’s stock are sold short.

Hanesbrands Price Performance

HBI stock traded up $0.11 during mid-day trading on Thursday, hitting $7.47. The stock had a trading volume of 4,385,126 shares, compared to its average volume of 7,938,389. The firm has a fifty day simple moving average of $6.66 and a 200 day simple moving average of $5.60. Hanesbrands has a 52 week low of $3.58 and a 52 week high of $7.52. The company has a current ratio of 1.46, a quick ratio of 0.86 and a debt-to-equity ratio of 50.06. The firm has a market capitalization of $2.63 billion, a P/E ratio of -123.50 and a beta of 1.58.

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

Institutional Investors Weigh In On Hanesbrands

Hedge funds have recently added to or reduced their stakes in the business. Concord Wealth Partners increased its stake in shares of Hanesbrands by 220.3% in the 1st 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 shares of Hanesbrands during the first quarter valued at about $35,000. Rothschild Investment LLC bought a new stake in shares of Hanesbrands during the second quarter valued at about $39,000. Hollencrest Capital Management bought a new position in shares of Hanesbrands in the first quarter worth approximately $41,000. Finally, Future Financial Wealth Managment LLC bought a new position in shares of Hanesbrands in the first quarter worth approximately $44,000. 80.31% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Stifel Nicolaus increased their price objective on shares of Hanesbrands from $4.50 to $6.00 and gave the stock a “hold” rating in a research report on Monday, August 12th. UBS Group increased their price objective 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 raised their price target on shares of Hanesbrands from $5.00 to $6.00 and gave the stock an “equal weight” rating in a research report on Monday, August 12th. Six investment analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $5.80.

Check Out Our Latest Stock Analysis on Hanesbrands

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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