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

Hanesbrands Inc. (NYSE:HBI) was the recipient of a large decrease in short interest during the month of 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 daily trading volume, of 8,760,000 shares, the days-to-cover ratio is currently 5.4 days. Approximately 13.6% of the shares of the stock are short sold.

Hedge Funds Weigh In On Hanesbrands

Several institutional investors and hedge funds have recently bought and sold shares of HBI. Concord Wealth Partners boosted its holdings 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 purchasing an additional 3,618 shares during the last quarter. Tradewinds Capital Management LLC acquired a new stake in shares of Hanesbrands during the 1st quarter worth $35,000. Rothschild Investment LLC purchased a new position in shares of Hanesbrands in the 2nd quarter worth $39,000. Hollencrest Capital Management acquired a new position in Hanesbrands in the first quarter valued at $41,000. Finally, Future Financial Wealth Managment LLC purchased a new stake in Hanesbrands during the first quarter valued at about $44,000. Institutional investors and hedge funds own 80.31% of the company’s stock.

Hanesbrands Trading Up 1.4 %

Shares of NYSE:HBI traded up $0.10 during midday trading on Thursday, reaching $7.46. The company’s stock had a trading volume of 2,535,787 shares, compared to its average volume of 7,929,188. The firm has a market cap of $2.62 billion, a price-to-earnings ratio of -122.67 and a beta of 1.58. The business has a 50 day moving average price of $6.66 and a 200 day moving average price of $5.60. Hanesbrands has a 1 year low of $3.58 and a 1 year high of $7.52. The company has a quick ratio of 0.86, a current ratio of 1.46 and a debt-to-equity ratio of 50.06.

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Barclays boosted their price target on Hanesbrands from $5.00 to $6.00 and gave the stock an “equal weight” rating in a report on Monday, August 12th. UBS Group boosted their target price on shares of Hanesbrands from $5.00 to $6.50 and gave the company a “neutral” rating in a research note on Tuesday, August 27th. Finally, Stifel Nicolaus raised their price target on shares of Hanesbrands from $4.50 to $6.00 and gave the stock a “hold” rating in a research note on Monday, August 12th. Six analysts have rated the stock with a hold rating, According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $5.80.

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.