Hanesbrands (NYSE:HBI) Shares Gap Up – Should You Buy?

Hanesbrands Inc. (NYSE:HBI) gapped up prior to trading on Thursday . The stock had previously closed at $8.04, but opened at $8.45. Hanesbrands shares last traded at $8.19, with a volume of 323,163 shares changing hands.

Analyst Ratings Changes

Several brokerages have recently commented on HBI. Barclays raised their target price on shares of Hanesbrands from $6.00 to $7.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. UBS Group raised Hanesbrands from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $9.00 to $11.00 in a report on Tuesday, November 26th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, Hanesbrands presently has an average rating of “Hold” and an average price target of $6.90.

Hanesbrands Stock Up 1.4 %

The firm has a 50 day simple moving average of $8.36 and a two-hundred day simple moving average of $7.38. The company has a quick ratio of 0.90, a current ratio of 1.49 and a debt-to-equity ratio of 21.50. The stock has a market capitalization of $2.87 billion, a P/E ratio of -12.36 and a beta of 1.63.

Hanesbrands (NYSE:HBI) last released its quarterly earnings data on Thursday, November 7th. The textile maker reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.04. The business had revenue of $937.10 million for the quarter, compared to analyst estimates of $936.47 million. Hanesbrands had a positive return on equity of 44.72% and a negative net margin of 5.24%. Hanesbrands’s revenue was down 2.5% compared to the same quarter last year. During the same period last year, the firm posted $0.10 earnings per share. On average, equities research analysts expect that Hanesbrands Inc. will post 0.39 earnings per share for the current year.

Hedge Funds Weigh In On Hanesbrands

Several large investors have recently modified their holdings of the business. Blue Trust Inc. grew its stake in Hanesbrands by 42.3% during the third quarter. Blue Trust Inc. now owns 5,359 shares of the textile maker’s stock worth $39,000 after purchasing an additional 1,594 shares during the period. Smartleaf Asset Management LLC grew its position in Hanesbrands by 122.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 4,920 shares of the textile maker’s stock valued at $40,000 after buying an additional 2,712 shares during the period. WFA Asset Management Corp bought a new stake in shares of Hanesbrands in the fourth quarter valued at $46,000. Whittier Trust Co. purchased a new stake in Hanesbrands during the third quarter valued at about $51,000. Finally, GAMMA Investing LLC lifted its stake in shares of Hanesbrands by 39.7% during the 4th quarter. GAMMA Investing LLC now owns 6,669 shares of the textile maker’s stock valued at $54,000 after buying an additional 1,895 shares in the last quarter. Institutional investors own 80.31% of the company’s stock.

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.