Hanesbrands (NYSE:HBI) Reaches New 1-Year High at $7.03

Hanesbrands Inc. (NYSE:HBI)’s stock price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $7.03 and last traded at $7.03, with a volume of 77791 shares changing hands. The stock had previously closed at $6.85.

Wall Street Analysts Forecast Growth

HBI has been the subject of several recent research reports. Wedbush reissued a “neutral” rating and set a $5.00 price target on shares of Hanesbrands in a report on Thursday, June 6th. UBS Group boosted their price target on Hanesbrands from $5.00 to $6.50 and gave the company a “neutral” rating in a report on Tuesday, August 27th. Barclays boosted their price target on Hanesbrands from $5.00 to $6.00 and gave the company an “equal weight” rating in a report on Monday, August 12th. Finally, Stifel Nicolaus upped their price objective on Hanesbrands from $4.50 to $6.00 and gave the stock a “hold” rating in a research note on Monday, August 12th. Six investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $5.80.

Hanesbrands Stock Performance

The stock has a market cap of $2.45 billion, a P/E ratio of -114.50 and a beta of 1.57. The company has a quick ratio of 0.86, a current ratio of 1.46 and a debt-to-equity ratio of 50.06. The business has a 50 day moving average price of $6.00 and a two-hundred day moving average price of $5.36.

Hanesbrands (NYSE:HBI) last announced its quarterly earnings results on Thursday, August 8th. The textile maker reported $0.15 EPS for the quarter, beating 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 company had revenue of $995.40 million during the quarter, compared to analyst estimates of $1.35 billion. During the same period in the prior year, the company earned ($0.01) earnings per share. The firm’s revenue was down 3.8% on a year-over-year basis. On average, sell-side analysts forecast that Hanesbrands Inc. will post 0.35 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Hanesbrands

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Concord Wealth Partners raised its position in Hanesbrands by 220.3% during the first 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 period. Tradewinds Capital Management LLC purchased a new stake in Hanesbrands during the first quarter valued at approximately $35,000. Hollencrest Capital Management purchased a new stake in Hanesbrands during the first quarter valued at approximately $41,000. Future Financial Wealth Managment LLC purchased a new stake in Hanesbrands during the first quarter valued at approximately $44,000. Finally, Rothschild Investment LLC purchased a new stake in Hanesbrands during the second quarter valued at approximately $39,000. 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.