Hanesbrands (NYSE:HBI) Shares Gap Up to $5.05

Hanesbrands Inc. (NYSE:HBIGet Free Report) shares gapped up before the market opened on Wednesday . The stock had previously closed at $5.05, but opened at $5.58. Hanesbrands shares last traded at $5.33, with a volume of 1,875,938 shares traded.

Analysts Set New Price Targets

A number of brokerages have commented on HBI. Barclays boosted their price objective on Hanesbrands from $4.00 to $5.00 and gave the stock an “equal weight” rating in a research note on Friday, May 10th. Citigroup boosted their price objective on Hanesbrands from $4.50 to $5.50 and gave the stock a “neutral” rating in a research note on Wednesday, April 3rd. Finally, Wedbush restated a “neutral” rating and set a $5.00 price objective on shares of Hanesbrands in a research note on Thursday. Five analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $5.00.

Read Our Latest Research Report on HBI

Hanesbrands Stock Performance

The firm has a market capitalization of $1.85 billion, a PE ratio of -87.50 and a beta of 1.62. The company has a debt-to-equity ratio of 9.57, a current ratio of 1.59 and a quick ratio of 0.62. The stock has a 50-day moving average price of $4.90 and a 200-day moving average price of $4.65.

Hanesbrands (NYSE:HBIGet Free Report) last announced its earnings results on Thursday, May 9th. The textile maker reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.04. Hanesbrands had a positive return on equity of 9.84% and a negative net margin of 0.42%. The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same period in the previous year, the company earned ($0.06) earnings per share. The company’s revenue for the quarter was down 16.8% compared to the same quarter last year. On average, research analysts expect that Hanesbrands Inc. will post 0.46 EPS for the current fiscal year.

Institutional Trading of Hanesbrands

Several hedge funds and other institutional investors have recently bought and sold shares of HBI. Loews Corp increased its holdings in Hanesbrands by 54.2% in the fourth quarter. Loews Corp now owns 16,500,000 shares of the textile maker’s stock valued at $73,590,000 after buying an additional 5,800,000 shares during the last quarter. Gate City Capital Management LLC bought a new stake in Hanesbrands in the fourth quarter valued at about $9,812,000. Morningstar Investment Services LLC increased its holdings in Hanesbrands by 93.1% in the fourth quarter. Morningstar Investment Services LLC now owns 4,290,891 shares of the textile maker’s stock valued at $19,051,000 after buying an additional 2,069,204 shares during the last quarter. Vanguard Group Inc. increased its holdings in Hanesbrands by 3.5% in the first quarter. Vanguard Group Inc. now owns 40,265,899 shares of the textile maker’s stock valued at $233,542,000 after buying an additional 1,362,140 shares during the last quarter. Finally, Partnership Wealth Management LLC bought a new stake in Hanesbrands in the fourth quarter valued at about $3,425,000. 80.31% of the stock is owned by institutional investors.

About Hanesbrands

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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.

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