Hanesbrands (NYSE:HBI) Shares Gap Up – What’s Next?

Shares of Hanesbrands Inc. (NYSE:HBI) gapped up before the market opened on Thursday . The stock had previously closed at $8.04, but opened at $8.45. Hanesbrands shares last traded at $8.19, with a volume of 323,163 shares traded.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on HBI shares. Barclays lifted their price objective on shares of Hanesbrands from $6.00 to $7.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. UBS Group upgraded shares of Hanesbrands from a “neutral” rating to a “buy” rating and upped their price objective for the company from $9.00 to $11.00 in a report on Tuesday, November 26th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $6.90.

Hanesbrands Price Performance

The firm’s 50-day moving average is $8.35 and its 200-day moving average is $7.38. The company has a debt-to-equity ratio of 21.50, a current ratio of 1.49 and a quick ratio of 0.90.

Hanesbrands (NYSE:HBI) last issued its quarterly earnings data on Thursday, November 7th. The textile maker reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.04. Hanesbrands had a negative net margin of 5.24% and a positive return on equity of 44.72%. The firm had revenue of $937.10 million during the quarter, compared to analysts’ expectations of $936.47 million. During the same period last year, the company earned $0.10 earnings per share. The business’s revenue was down 2.5% on a year-over-year basis. On average, sell-side analysts expect that Hanesbrands Inc. will post 0.39 earnings per share for the current year.

Institutional Trading of Hanesbrands

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HBI. HighTower Advisors LLC grew its holdings in Hanesbrands by 23.2% during the fourth quarter. HighTower Advisors LLC now owns 39,650 shares of the textile maker’s stock worth $323,000 after buying an additional 7,466 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Hanesbrands by 10.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 101,015 shares of the textile maker’s stock worth $822,000 after acquiring an additional 9,824 shares in the last quarter. Taika Capital LP purchased a new stake in shares of Hanesbrands in the fourth quarter valued at about $1,054,000. Amundi lifted its position in shares of Hanesbrands by 184.8% during the fourth quarter. Amundi now owns 176,316 shares of the textile maker’s stock valued at $1,465,000 after purchasing an additional 114,402 shares in the last quarter. Finally, Generali Investments CEE investicni spolecnost a.s. purchased a new position in Hanesbrands during the fourth quarter worth about $130,000. 80.31% of the stock is owned by institutional investors.

About Hanesbrands

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.