Hanesbrands (NYSE:HBI) Shares Gap Up to $5.05

Hanesbrands Inc. (NYSE:HBIGet Free Report)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $5.05, but opened at $5.58. Hanesbrands shares last traded at $5.33, with a volume of 1,875,938 shares.

Analyst Upgrades and Downgrades

HBI has been the topic of several analyst reports. Citigroup boosted their price target on shares of Hanesbrands from $4.50 to $5.50 and gave the stock a “neutral” rating in a research report on Wednesday, April 3rd. Barclays boosted their price target on shares of Hanesbrands from $4.00 to $5.00 and gave the stock an “equal weight” rating in a research report on Friday, May 10th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $5.00 target price on shares of Hanesbrands in a report on Thursday. Five research analysts have rated the stock with a hold rating, Based on data from MarketBeat, Hanesbrands currently has a consensus rating of “Hold” and an average target price of $5.00.

View Our Latest Report on HBI

Hanesbrands Stock Performance

The company has a debt-to-equity ratio of 9.57, a quick ratio of 0.62 and a current ratio of 1.59. The stock’s fifty day moving average price is $4.90 and its 200-day moving average price is $4.65. The company has a market capitalization of $1.85 billion, a P/E ratio of -87.50 and a beta of 1.62.

Hanesbrands (NYSE:HBIGet Free Report) last issued its earnings results on Thursday, May 9th. The textile maker reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.04. Hanesbrands had a negative net margin of 0.42% and a positive return on equity of 9.84%. The company had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same period in the prior year, the firm earned ($0.06) EPS. Hanesbrands’s quarterly revenue was down 16.8% compared to the same quarter last year. As a group, research analysts anticipate that Hanesbrands Inc. will post 0.46 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Concord Wealth Partners grew its stake in 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 buying an additional 3,618 shares during the last quarter. Tradewinds Capital Management LLC acquired a new position in Hanesbrands in the 1st quarter valued at about $35,000. Hollencrest Capital Management acquired a new position in Hanesbrands in the 1st quarter valued at about $41,000. Sherbrooke Park Advisers LLC acquired a new position in shares of Hanesbrands during the 3rd quarter worth approximately $42,000. Finally, AXQ Capital LP acquired a new position in shares of Hanesbrands during the 3rd quarter worth approximately $43,000. Institutional investors and hedge funds own 80.31% of the company’s stock.

About Hanesbrands

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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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