Hanesbrands Inc. (NYSE:HBI) Short Interest Update

Hanesbrands Inc. (NYSE:HBI) saw a large decline in short interest during the month of August. As of August 31st, there was short interest totalling 44,110,000 shares, a decline of 5.3% from the August 15th total of 46,570,000 shares. Currently, 12.7% of the company’s stock are short sold. Based on an average daily trading volume, of 7,640,000 shares, the short-interest ratio is currently 5.8 days.

Hanesbrands Stock Down 3.7 %

Hanesbrands stock opened at $4.46 on Tuesday. Hanesbrands has a fifty-two week low of $3.85 and a fifty-two week high of $8.80. The company has a debt-to-equity ratio of 10.07, a quick ratio of 0.61 and a current ratio of 1.67. The company has a market capitalization of $1.56 billion, a P/E ratio of -3.98 and a beta of 1.65. The stock has a 50-day simple moving average of $5.03 and a 200-day simple moving average of $4.82.

Hanesbrands (NYSE:HBI) last posted its earnings results on Thursday, August 10th. The textile maker reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.01. Hanesbrands had a positive return on equity of 22.89% and a negative net margin of 6.61%. The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same period in the previous year, the business earned $0.28 EPS. The business’s quarterly revenue was down 4.7% on a year-over-year basis. Equities research analysts expect that Hanesbrands will post 0.23 earnings per share for the current year.

Institutional Trading of Hanesbrands

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its stake in Hanesbrands by 16.6% during the 1st quarter. BlackRock Inc. now owns 46,483,518 shares of the textile maker’s stock valued at $244,503,000 after acquiring an additional 6,630,208 shares during the last quarter. Vanguard Group Inc. raised its stake in Hanesbrands by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 34,394,827 shares of the textile maker’s stock valued at $512,139,000 after acquiring an additional 210,175 shares during the last quarter. Cooke & Bieler LP raised its stake in Hanesbrands by 3.4% during the 1st quarter. Cooke & Bieler LP now owns 24,045,638 shares of the textile maker’s stock valued at $126,480,000 after acquiring an additional 793,509 shares during the last quarter. Shapiro Capital Management LLC raised its stake in Hanesbrands by 9.8% during the 1st quarter. Shapiro Capital Management LLC now owns 15,351,432 shares of the textile maker’s stock valued at $228,583,000 after acquiring an additional 1,371,689 shares during the last quarter. Finally, State Street Corp raised its stake in Hanesbrands by 14.5% during the 2nd quarter. State Street Corp now owns 13,365,722 shares of the textile maker’s stock valued at $60,680,000 after acquiring an additional 1,693,929 shares during the last quarter. 87.64% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

HBI has been the subject of a number of recent analyst reports. StockNews.com downgraded Hanesbrands from a “hold” rating to a “sell” rating in a report on Thursday, August 24th. Wedbush reaffirmed a “neutral” rating and set a $5.50 price target on shares of Hanesbrands in a report on Tuesday, August 8th. Two investment analysts have rated the stock with a sell rating and five have issued a hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $5.64.

About Hanesbrands

Hanesbrands Inc, a consumer goods company, designs, manufactures, sources, and sells a range of basic apparel for men, women, and children. The company operates through three segments: Innerwear, Activewear, and International. It sells men's underwear, women's panties, children's underwear and socks, and activewear, as well as intimate apparel, such as bras and shapewears; home goods; and T-shirts, fleece, performance apparel, sport shirts, performance T-shirts and shorts, sports bras, teamwear, and thermals, as well as licensed logo apparel in collegiate bookstores and mass retail channels.