Hanesbrands (NYSE:HBI) Shares Gap Up - What's Next?

Hanesbrands Inc. (NYSE:HBI - Get Free Report)'s share price gapped up before the market opened on Thursday . The stock had previously closed at $8.04, but opened at $8.45. Hanesbrands shares last traded at $8.19, with a volume of 323,163 shares traded.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Barclays increased their price objective on shares of Hanesbrands from $6.00 to $7.00 and gave the company an "equal weight" rating in a research note on Monday, November 11th. UBS Group raised shares of Hanesbrands from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $9.00 to $11.00 in a research note on Tuesday, November 26th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $6.90.

Hanesbrands Price Performance

The business has a fifty day moving average of $8.32 and a 200-day moving average of $7.43. The company has a current ratio of 1.49, a quick ratio of 0.90 and a debt-to-equity ratio of 21.50. The firm has a market cap of $2.65 billion, a PE ratio of -11.40 and a beta of 1.63.

Hanesbrands (NYSE:HBI - Get Free Report) last posted its quarterly earnings data on Thursday, November 7th. The textile maker reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.04. Hanesbrands had a positive return on equity of 44.72% and a negative net margin of 5.24%. The company had revenue of $937.10 million during the quarter, compared to analyst estimates of $936.47 million. During the same quarter last year, the company earned $0.10 earnings per share. The firm's quarterly revenue was down 2.5% on a year-over-year basis. As a group, research analysts predict that Hanesbrands Inc. will post 0.39 earnings per share for the current year.

Institutional Trading of Hanesbrands

Several institutional investors have recently added to or reduced their stakes in the business. Sanctuary Advisors LLC boosted its stake in shares of Hanesbrands by 2.2% during the fourth quarter. Sanctuary Advisors LLC now owns 58,714 shares of the textile maker's stock valued at $498,000 after purchasing an additional 1,277 shares during the period. Blue Trust Inc. grew its holdings in Hanesbrands by 42.3% in the 3rd quarter. Blue Trust Inc. now owns 5,359 shares of the textile maker's stock worth $39,000 after acquiring an additional 1,594 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Hanesbrands by 39.7% during the fourth quarter. GAMMA Investing LLC now owns 6,669 shares of the textile maker's stock valued at $54,000 after acquiring an additional 1,895 shares during the last quarter. Avior Wealth Management LLC boosted its holdings in shares of Hanesbrands by 3.5% during the fourth quarter. Avior Wealth Management LLC now owns 56,700 shares of the textile maker's stock worth $462,000 after purchasing an additional 1,900 shares during the period. Finally, New York State Common Retirement Fund increased its holdings in Hanesbrands by 2.3% during the 4th quarter. New York State Common Retirement Fund now owns 109,606 shares of the textile maker's stock valued at $892,000 after purchasing an additional 2,436 shares during the period. 80.31% of the stock is currently owned by hedge funds and other institutional investors.

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.