Hanesbrands (NYSE:HBI) Stock Price Up 4%

Hanesbrands Inc. (NYSE:HBI)’s stock price rose 4% during trading on Tuesday . The company traded as high as $4.74 and last traded at $4.64. Approximately 1,152,511 shares traded hands during mid-day trading, a decline of 88% from the average daily volume of 9,741,254 shares. The stock had previously closed at $4.46.

Analyst Ratings Changes

HBI has been the topic of a number of recent analyst reports. StockNews.com lowered shares of Hanesbrands from a “hold” rating to a “sell” rating in a research report on Thursday, August 24th. Wedbush reiterated a “neutral” rating and set a $5.50 target price on shares of Hanesbrands in a research report on Tuesday, August 8th. Two equities research analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to data from MarketBeat, Hanesbrands presently has an average rating of “Hold” and a consensus target price of $5.64.

Hanesbrands Trading Up 2.5 %

The business’s 50-day moving average price is $5.03 and its two-hundred day moving average price is $4.82. The company has a market capitalization of $1.60 billion, a P/E ratio of -3.98 and a beta of 1.65. The company has a debt-to-equity ratio of 10.07, a current ratio of 1.67 and a quick ratio of 0.61.

Hanesbrands (NYSE:HBI) last announced its quarterly earnings results on Thursday, August 10th. The textile maker reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.01. The company had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.46 billion. Hanesbrands had a negative net margin of 6.61% and a positive return on equity of 22.89%. The business’s quarterly revenue was down 4.7% compared to the same quarter last year. During the same period last year, the firm posted $0.28 earnings per share. As a group, analysts forecast that Hanesbrands Inc. will post 0.23 EPS for the current fiscal year.

Institutional Investors Weigh In On Hanesbrands

A number of hedge funds and other institutional investors have recently made changes to their positions in HBI. BlackRock Inc. raised its holdings in shares of Hanesbrands by 16.6% during the first quarter. BlackRock Inc. now owns 46,483,518 shares of the textile maker’s stock worth $244,503,000 after acquiring an additional 6,630,208 shares during the period. Millennium Management LLC raised its holdings in shares of Hanesbrands by 991.4% during the fourth quarter. Millennium Management LLC now owns 3,896,974 shares of the textile maker’s stock worth $24,785,000 after acquiring an additional 3,539,911 shares during the period. Balyasny Asset Management L.P. acquired a new stake in Hanesbrands in the 1st quarter valued at $14,888,000. Brandes Investment Partners LP increased its stake in Hanesbrands by 7,516.3% in the 1st quarter. Brandes Investment Partners LP now owns 2,355,656 shares of the textile maker’s stock valued at $12,391,000 after buying an additional 2,324,727 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its stake in Hanesbrands by 2,900.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,354,491 shares of the textile maker’s stock valued at $14,975,000 after buying an additional 2,276,017 shares during the last quarter. 87.64% 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 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.