Hanesbrands (NYSE:HBI) Trading Up 12.3%

Shares of Hanesbrands Inc. (NYSE:HBI) were up 12.3% during trading on Wednesday . The stock traded as high as $12.10 and last traded at $12.04, approximately 12,216,080 shares changed hands during trading. An increase of 38% from the average daily volume of 8,832,629 shares. The stock had previously closed at $10.72.

Several equities analysts have recently commented on HBI shares. Wells Fargo & Co reduced their price target on shares of Hanesbrands from $12.00 to $8.00 and set an “underweight” rating on the stock in a research report on Monday, March 16th. ValuEngine raised shares of Hanesbrands from a “sell” rating to a “hold” rating in a report on Monday. Deutsche Bank cut their target price on shares of Hanesbrands from $15.00 to $9.00 and set a “hold” rating on the stock in a report on Friday, April 24th. B. Riley cut their target price on shares of Hanesbrands from $22.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday, March 26th. Finally, UBS Group raised their target price on shares of Hanesbrands from $9.00 to $9.50 and gave the stock a “neutral” rating in a report on Monday, May 4th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $12.85.

The firm’s 50 day simple moving average is $9.33 and its 200 day simple moving average is $12.21. The company has a market cap of $3.58 billion, a price-to-earnings ratio of 7.55, a price-to-earnings-growth ratio of 5.20 and a beta of 1.50. The company has a quick ratio of 1.11, a current ratio of 2.21 and a debt-to-equity ratio of 5.26.

Hanesbrands (NYSE:HBI) last announced its quarterly earnings results on Thursday, April 30th. The textile maker reported $0.05 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.06). Hanesbrands had a net margin of 7.75% and a return on equity of 50.63%. The firm had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.33 billion. During the same quarter in the previous year, the business posted $0.27 EPS. Hanesbrands’s revenue for the quarter was down 17.2% compared to the same quarter last year. Analysts anticipate that Hanesbrands Inc. will post 0.6 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 9th. Shareholders of record on Tuesday, May 19th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Monday, May 18th. This represents a $0.60 annualized dividend and a dividend yield of 4.98%. Hanesbrands’s payout ratio is currently 34.09%.

Several hedge funds and other institutional investors have recently bought and sold shares of HBI. FMR LLC increased its stake in shares of Hanesbrands by 95.4% during the first quarter. FMR LLC now owns 28,275 shares of the textile maker’s stock valued at $506,000 after acquiring an additional 13,807 shares during the period. Amundi Pioneer Asset Management Inc. increased its stake in shares of Hanesbrands by 21.5% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 490,677 shares of the textile maker’s stock valued at $8,773,000 after acquiring an additional 86,798 shares during the period. CWM LLC increased its stake in shares of Hanesbrands by 19,590.9% during the fourth quarter. CWM LLC now owns 2,166 shares of the textile maker’s stock valued at $32,000 after acquiring an additional 2,155 shares during the period. Russell Investments Group Ltd. increased its stake in shares of Hanesbrands by 11.7% during the fourth quarter. Russell Investments Group Ltd. now owns 98,908 shares of the textile maker’s stock valued at $1,460,000 after acquiring an additional 10,372 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Hanesbrands by 1.0% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,423,829 shares of the textile maker’s stock valued at $21,144,000 after acquiring an additional 14,436 shares during the period. Institutional investors and hedge funds own 98.57% of the company’s stock.

Hanesbrands Company Profile (NYSE:HBI)

Hanesbrands, Inc is a consumer goods company, which engages in the design, manufacture, sourcing, and sale of everyday basic innerwear and activewear apparel in the Americas, Europe, Australia and Asia Pacific. It operates through the following three segments: Innerwear, Activewear and International.

Featured Article: What does a hold rating mean?

Receive News & Ratings for Hanesbrands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hanesbrands and related companies with MarketBeat.com's FREE daily email newsletter.