Hanesbrands (NYSE:HBI) Hits New 52-Week High – Here’s What Happened

Hanesbrands Inc. (NYSE:HBI) hit a new 52-week high during trading on Tuesday . The company traded as high as $7.45 and last traded at $7.43, with a volume of 613119 shares changing hands. The stock had previously closed at $7.28.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. 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 report on Tuesday, August 27th. Barclays increased their target price on shares of Hanesbrands from $5.00 to $6.00 and gave the stock an “equal weight” rating in a research report on Monday, August 12th. Finally, Stifel Nicolaus lifted their price target on shares of Hanesbrands from $4.50 to $6.00 and gave the company a “hold” rating in a research report on Monday, August 12th. Six analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Hanesbrands currently has a consensus rating of “Hold” and a consensus target price of $5.80.

Hanesbrands Stock Performance

The stock has a fifty day simple moving average of $6.66 and a two-hundred day simple moving average of $5.60. The stock has a market cap of $2.63 billion, a price-to-earnings ratio of -123.50 and a beta of 1.58. The company has a debt-to-equity ratio of 50.06, a quick ratio of 0.86 and a current ratio of 1.46.

Hanesbrands (NYSE:HBI) last posted its earnings results on Thursday, August 8th. The textile maker reported $0.15 earnings per share for the quarter, topping 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 firm had revenue of $995.40 million for the quarter, compared to analysts’ expectations of $1.35 billion. During the same quarter in the previous year, the firm posted ($0.01) earnings per share. The company’s revenue was down 3.8% on a year-over-year basis. Analysts expect that Hanesbrands Inc. will post 0.34 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of HBI. Concord Wealth Partners lifted its holdings in Hanesbrands by 220.3% in the first quarter. Concord Wealth Partners now owns 5,260 shares of the textile maker’s stock valued at $31,000 after buying an additional 3,618 shares during the period. Tradewinds Capital Management LLC acquired a new position in shares of Hanesbrands in the 1st quarter valued at about $35,000. Hollencrest Capital Management acquired a new stake in Hanesbrands during the first quarter worth approximately $41,000. Future Financial Wealth Managment LLC bought a new stake in Hanesbrands in the first quarter worth approximately $44,000. Finally, Rothschild Investment LLC bought a new stake in Hanesbrands in the second quarter worth approximately $39,000. 80.31% of the stock is owned by institutional investors and hedge funds.

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.