Hanesbrands (NYSE:HBI) Shares Up 20.1% - Still a Buy?

Shares of Hanesbrands Inc. (NYSE:HBI - Get Free Report) rose 20.1% during mid-day trading on Thursday . The company traded as high as $8.70 and last traded at $8.53. Approximately 2,931,053 shares were traded during trading, a decline of 62% from the average daily volume of 7,737,967 shares. The stock had previously closed at $7.10.

Analyst Ratings Changes

A number of research firms recently weighed in on HBI. Barclays upped their price target on Hanesbrands from $5.00 to $6.00 and gave the stock an "equal weight" rating in a report on Monday, August 12th. UBS Group raised their target price on shares of Hanesbrands from $5.00 to $6.50 and gave the company a "neutral" rating in a report on Tuesday, August 27th. Finally, Stifel Nicolaus upped their price target on shares of Hanesbrands from $4.50 to $6.00 and gave the company a "hold" rating in a report on Monday, August 12th. Six equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, Hanesbrands presently has an average rating of "Hold" and a consensus target price of $5.80.

Hanesbrands Price Performance

The company's 50 day simple moving average is $6.94 and its 200-day simple moving average is $5.82. The company has a current ratio of 1.46, a quick ratio of 0.86 and a debt-to-equity ratio of 50.06. The company has a market capitalization of $2.88 billion, a price-to-earnings ratio of -9.64 and a beta of 1.58.

Hanesbrands (NYSE:HBI - Get Free Report) last announced its quarterly earnings results on Thursday, August 8th. The textile maker reported $0.15 earnings per share for the quarter, beating analysts' consensus estimates of $0.10 by $0.05. Hanesbrands had a negative net margin of 6.02% and a positive return on equity of 33.23%. The company had revenue of $995.40 million for the quarter, compared to analyst estimates of $1.35 billion. During the same quarter last year, the business earned ($0.01) EPS. Hanesbrands's revenue for the quarter was down 3.8% on a year-over-year basis. On average, equities research analysts predict that Hanesbrands Inc. will post 0.34 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of HBI. Natixis Advisors LLC purchased a new position in Hanesbrands in the third quarter valued at about $248,000. Aigen Investment Management LP purchased a new position in Hanesbrands in the 3rd quarter worth approximately $652,000. Wealth Enhancement Advisory Services LLC grew its position in Hanesbrands by 8.9% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 115,226 shares of the textile maker's stock valued at $847,000 after acquiring an additional 9,457 shares in the last quarter. International Assets Investment Management LLC raised its stake in shares of Hanesbrands by 481.0% during the third quarter. International Assets Investment Management LLC now owns 520,037 shares of the textile maker's stock valued at $3,822,000 after purchasing an additional 430,534 shares during the period. Finally, Whittier Trust Co. acquired a new position in shares of Hanesbrands during the third quarter worth $51,000. 80.31% of the stock is owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.