Hanesbrands Inc. (NYSE:HBI) Short Interest Up 5.3% in March

Hanesbrands Inc. (NYSE:HBI) was the recipient of a large increase in short interest in March. As of March 31st, there was short interest totalling 51,630,000 shares, an increase of 5.3% from the March 15th total of 49,020,000 shares. Based on an average daily trading volume, of 9,230,000 shares, the days-to-cover ratio is currently 5.6 days. Approximately 14.9% of the shares of the company are sold short.

Hanesbrands Price Performance

Shares of HBI stock opened at $4.71 on Thursday. The company has a quick ratio of 0.65, a current ratio of 1.64 and a debt-to-equity ratio of 7.72. Hanesbrands has a twelve month low of $3.54 and a twelve month high of $5.86. The company has a market cap of $1.66 billion, a P/E ratio of -94.18 and a beta of 1.58. The business has a fifty day simple moving average of $5.11 and a 200 day simple moving average of $4.48.

Hanesbrands (NYSE:HBI) last announced its quarterly earnings data on Thursday, February 15th. The textile maker reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.06). Hanesbrands had a positive return on equity of 5.84% and a negative net margin of 0.31%. The business had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter in the prior year, the company earned $0.07 earnings per share. Hanesbrands’s quarterly revenue was down 12.0% compared to the same quarter last year. On average, sell-side analysts forecast that Hanesbrands will post 0.44 EPS for the current fiscal year.

Institutional Trading of Hanesbrands

Institutional investors and hedge funds have recently modified their holdings of the business. Deutsche Bank AG lifted its position in shares of Hanesbrands by 98.4% during the 3rd quarter. Deutsche Bank AG now owns 473,745 shares of the textile maker’s stock worth $1,876,000 after buying an additional 234,978 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Hanesbrands by 5.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,866,694 shares of the textile maker’s stock valued at $15,312,000 after purchasing an additional 209,214 shares during the last quarter. Nordea Investment Management AB raised its position in Hanesbrands by 2.1% in the third quarter. Nordea Investment Management AB now owns 246,354 shares of the textile maker’s stock valued at $935,000 after purchasing an additional 5,006 shares during the last quarter. Exchange Traded Concepts LLC bought a new position in Hanesbrands in the fourth quarter valued at about $427,000. Finally, Wolverine Asset Management LLC raised its position in Hanesbrands by 160.4% in the third quarter. Wolverine Asset Management LLC now owns 435,051 shares of the textile maker’s stock valued at $1,723,000 after purchasing an additional 267,988 shares during the last quarter. 80.31% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on HBI. Citigroup upped their price objective on Hanesbrands from $4.50 to $5.50 and gave the company a “neutral” rating in a report on Wednesday, April 3rd. Wedbush increased their target price on Hanesbrands from $4.50 to $5.00 and gave the stock a “neutral” rating in a report on Wednesday, April 3rd. Four equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $5.00.

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.