Hanesbrands Sees Unusually Large Options Volume (NYSE:HBI)

Hanesbrands Inc. (NYSE:HBI – Get Rating) was the target of some unusual options trading activity on Wednesday. Stock traders bought 19,832 call options on the company. This represents an increase of approximately 101% compared to the typical volume of 9,876 call options.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Citigroup lowered their target price on Hanesbrands from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Friday, February 3rd. Barclays raised their target price on shares of Hanesbrands from $7.00 to $8.00 and gave the company an “equal weight” rating in a research note on Friday, January 13th. TheStreet downgraded shares of Hanesbrands from a “c” rating to a “d+” rating in a research report on Thursday, February 2nd. Credit Suisse Group cut their price objective on shares of Hanesbrands from $7.00 to $6.00 and set a “neutral” rating for the company in a research report on Friday, February 3rd. Finally, StockNews.com downgraded shares of Hanesbrands from a “hold” rating to a “sell” rating in a research report on Friday, February 3rd. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $10.00.

Hanesbrands Trading Up 0.2 %

NYSE:HBI opened at $5.49 on Thursday. Hanesbrands has a one year low of $5.26 and a one year high of $16.15. The company has a debt-to-equity ratio of 9.07, a current ratio of 1.75 and a quick ratio of 0.64. The firm has a 50-day moving average of $6.74 and a 200-day moving average of $7.18. The company has a market cap of $1.92 billion, a PE ratio of -15.25 and a beta of 1.60.

Hanesbrands (NYSE:HBI – Get Rating) last released its earnings results on Thursday, February 2nd. The textile maker reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.01). Hanesbrands had a negative net margin of 2.04% and a positive return on equity of 53.41%. The company had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.47 billion. During the same period in the prior year, the company earned $0.44 earnings per share. The firm’s revenue was down 15.9% on a year-over-year basis. As a group, equities research analysts expect that Hanesbrands will post 0.36 EPS for the current fiscal year.

Institutional Trading of Hanesbrands

Several institutional investors and hedge funds have recently bought and sold shares of HBI. Gallagher Benefit Services Inc. bought a new position in shares of Hanesbrands in the 4th quarter worth $679,000. Northwestern Mutual Wealth Management Co. lifted its position in shares of Hanesbrands by 17.8% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 27,976 shares of the textile maker’s stock worth $178,000 after purchasing an additional 4,221 shares during the period. Compass Wealth Management LLC purchased a new stake in shares of Hanesbrands in the 4th quarter worth about $1,311,000. Alliancebernstein L.P. lifted its position in shares of Hanesbrands by 0.4% in the 4th quarter. Alliancebernstein L.P. now owns 477,420 shares of the textile maker’s stock worth $3,036,000 after purchasing an additional 2,048 shares during the period. Finally, Financial Advocates Investment Management lifted its position in shares of Hanesbrands by 33.3% in the 4th quarter. Financial Advocates Investment Management now owns 18,972 shares of the textile maker’s stock worth $121,000 after purchasing an additional 4,744 shares during the period. 81.87% of the stock is currently owned by hedge funds and other institutional investors.

About Hanesbrands

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Hanesbrands, Inc engages in the business of designing, manufacturing, sourcing, and selling basic apparel such as T-shirts, bras, panties, shape wear, underwear, socks, and activewear. It operates through the following segments: Innerwear, Activewear, and International. The Innerwear segment includes basic apparel including men’s underwear, women’s panties, children’s underwear, and socks, and intimate apparel such as bras, and shape wear.