Hanesbrands (NYSE:HBI) Stock Passes Above 200 Day Moving Average – What’s Next?

Hanesbrands Inc. (NYSE:HBI)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $5.96 and traded as high as $6.65. Hanesbrands shares last traded at $6.65, with a volume of 345 shares traded.

Analyst Upgrades and Downgrades

Several research firms recently commented on HBI. Citigroup raised their price target on shares of Hanesbrands from $5.50 to $7.00 and gave the stock a “neutral” rating in a research note on Thursday, October 23rd. Weiss Ratings restated a “hold (c-)” rating on shares of Hanesbrands in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, Hanesbrands currently has a consensus rating of “Hold” and a consensus price target of $6.60.

Hanesbrands Price Performance

The firm has a fifty day moving average of $6.63 and a two-hundred day moving average of $5.96. The stock has a market capitalization of $2.35 billion, a P/E ratio of 7.23 and a beta of 1.50. The company has a debt-to-equity ratio of 4.94, a current ratio of 1.51 and a quick ratio of 0.71.

Hanesbrands (NYSE:HBI) last issued its earnings results on Thursday, November 6th. The textile maker reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.01). Hanesbrands had a return on equity of 129.43% and a net margin of 9.34%.The business had revenue of $891.68 million for the quarter, compared to the consensus estimate of $905.37 million. During the same quarter in the previous year, the company earned $0.15 earnings per share. The firm’s revenue was down 1.0% on a year-over-year basis. On average, analysts predict that Hanesbrands Inc. will post 0.53 EPS for the current year.

Institutional Trading of Hanesbrands

A number of hedge funds have recently bought and sold shares of HBI. Arizona State Retirement System increased its holdings in shares of Hanesbrands by 1.5% in the 3rd quarter. Arizona State Retirement System now owns 104,646 shares of the textile maker’s stock valued at $690,000 after acquiring an additional 1,595 shares during the period. Amalgamated Bank boosted its position in Hanesbrands by 1.7% during the third quarter. Amalgamated Bank now owns 102,473 shares of the textile maker’s stock valued at $675,000 after purchasing an additional 1,747 shares in the last quarter. IFP Advisors Inc grew its stake in Hanesbrands by 13.5% in the second quarter. IFP Advisors Inc now owns 18,518 shares of the textile maker’s stock valued at $85,000 after purchasing an additional 2,208 shares during the last quarter. Petros Family Wealth LLC raised its holdings in Hanesbrands by 15.5% in the second quarter. Petros Family Wealth LLC now owns 17,817 shares of the textile maker’s stock worth $82,000 after purchasing an additional 2,390 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its position in shares of Hanesbrands by 8.0% during the third quarter. International Assets Investment Management LLC now owns 33,658 shares of the textile maker’s stock valued at $222,000 after buying an additional 2,500 shares during the last quarter. Hedge funds and other institutional investors own 80.31% of the company’s stock.

Hanesbrands Company Profile

Hanesbrands Inc is a leading global apparel company specializing in everyday basics and activewear. The company’s product portfolio encompasses underwear, bras, socks, hosiery, T-shirts, and performance apparel under well-known brands such as Hanes, Champion, Playtex, DIM, Maidenform, and Bonds. Through a combination of trusted brand equity and a focus on comfort, fit, and quality, Hanesbrands serves a broad consumer base across multiple demographic segments.

Established in 2006 following its spin-off from the Sara Lee Corporation, Hanesbrands has grown through strategic acquisitions and organic expansion.