Hanesbrands (NYSE:HBI) Shares Up 20.1% – Still a Buy?

Shares of Hanesbrands Inc. (NYSE:HBI) rose 20.1% during mid-day trading on Thursday . The company traded as high as $8.70 and last traded at $8.53. Approximately 2,931,053 shares were traded during trading, a decline of 62% from the average daily volume of 7,737,967 shares. The stock had previously closed at $7.10.

Analyst Ratings Changes

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

Hanesbrands Price Performance

The company’s 50 day simple moving average is $6.94 and its 200-day simple moving average is $5.82. The company has a current ratio of 1.46, a quick ratio of 0.86 and a debt-to-equity ratio of 50.06. The company has a market capitalization of $2.88 billion, a price-to-earnings ratio of -9.64 and a beta of 1.58.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of HBI. Natixis Advisors LLC purchased a new position in Hanesbrands in the third quarter valued at about $248,000. Aigen Investment Management LP purchased a new position in Hanesbrands in the 3rd quarter worth approximately $652,000. Wealth Enhancement Advisory Services LLC grew its position in Hanesbrands by 8.9% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 115,226 shares of the textile maker’s stock valued at $847,000 after acquiring an additional 9,457 shares in the last quarter. International Assets Investment Management LLC raised its stake in shares of Hanesbrands by 481.0% during the third quarter. International Assets Investment Management LLC now owns 520,037 shares of the textile maker’s stock valued at $3,822,000 after purchasing an additional 430,534 shares during the period. Finally, Whittier Trust Co. acquired a new position in shares of Hanesbrands during the third quarter worth $51,000. 80.31% of the stock is owned by institutional investors and hedge funds.

Hanesbrands Company Profile

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.