Hanesbrands (NYSE:HBI) Sees Large Volume Increase – Time to Buy?

Shares of Hanesbrands Inc. (NYSE:HBI) saw unusually-high trading volume on Friday . Approximately 13,293,245 shares were traded during trading, an increase of 84% from the previous session’s volume of 7,234,707 shares.The stock last traded at $6.5150 and had previously closed at $6.59.

Analyst Upgrades and Downgrades

HBI has been the topic of several recent research reports. Weiss Ratings restated a “hold (c-)” rating on shares of Hanesbrands in a research report on Wednesday, October 8th. Wells Fargo & Company upgraded Hanesbrands from a “strong sell” rating to an “equal weight” rating and upped their price objective for the stock from $5.00 to $6.00 in a report on Thursday, August 14th. Wall Street Zen raised shares of Hanesbrands from a “hold” rating to a “strong-buy” rating in a research note on Saturday, August 9th. UBS Group lifted their target price on shares of Hanesbrands from $8.00 to $9.00 and gave the stock a “buy” rating in a research report on Friday, August 8th. Finally, Citigroup upped their price target on shares of Hanesbrands from $5.50 to $7.00 and gave the company a “neutral” rating in a research report on Thursday, October 23rd. One equities research analyst has rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Hanesbrands presently has an average rating of “Hold” and an average target price of $6.60.

Hanesbrands Trading Down 1.1%

The company has a debt-to-equity ratio of 4.94, a quick ratio of 0.71 and a current ratio of 1.51. The stock has a market capitalization of $2.31 billion, a P/E ratio of 7.09 and a beta of 1.50. The stock has a 50-day moving average price of $6.67 and a two-hundred day moving average price of $5.71.

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

Institutional Investors Weigh In On Hanesbrands

Several hedge funds have recently bought and sold shares of the business. Envestnet Asset Management Inc. boosted its holdings in Hanesbrands by 13.0% in the first quarter. Envestnet Asset Management Inc. now owns 277,376 shares of the textile maker’s stock worth $1,600,000 after acquiring an additional 32,017 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Hanesbrands during the 1st quarter valued at about $62,000. Cetera Investment Advisers boosted its holdings in shares of Hanesbrands by 6.8% during the 1st quarter. Cetera Investment Advisers now owns 77,486 shares of the textile maker’s stock valued at $447,000 after acquiring an additional 4,904 shares during the last quarter. Assetmark Inc. grew its position in Hanesbrands by 19.0% in the 1st quarter. Assetmark Inc. now owns 169,414 shares of the textile maker’s stock worth $978,000 after purchasing an additional 27,086 shares during the period. Finally, LPL Financial LLC grew its holdings in shares of Hanesbrands by 11.2% in the first quarter. LPL Financial LLC now owns 505,109 shares of the textile maker’s stock worth $2,914,000 after acquiring an additional 50,977 shares during the period. Institutional investors own 80.31% of the company’s stock.

Hanesbrands Company Profile

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.