Investors Buy Large Volume of Call Options on Hanesbrands (NYSE:HBI)

Hanesbrands Inc. (NYSE:HBI - Get Free Report) was the target of some unusual options trading on Monday. Traders bought 10,629 call options on the company. This represents an increase of 297% compared to the typical volume of 2,675 call options.

Wall Street Analyst Weigh In

HBI has been the topic of a number of recent analyst reports. UBS Group upgraded Hanesbrands from a "neutral" rating to a "buy" rating and increased their target price for the company from $9.00 to $11.00 in a research report on Tuesday, November 26th. 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 report on Monday, November 11th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $6.90.

Institutional Trading of Hanesbrands

Hedge funds have recently bought and sold shares of the business. Blue Trust Inc. grew its position in shares of Hanesbrands by 42.3% in the third quarter. Blue Trust Inc. now owns 5,359 shares of the textile maker's stock valued at $39,000 after purchasing an additional 1,594 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in shares of Hanesbrands by 122.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 4,920 shares of the textile maker's stock worth $40,000 after acquiring an additional 2,712 shares during the last quarter. WFA Asset Management Corp purchased a new position in shares of Hanesbrands during the 4th quarter worth $46,000. Whittier Trust Co. acquired a new position in shares of Hanesbrands during the 3rd quarter valued at about $51,000. Finally, GAMMA Investing LLC grew its holdings in shares of Hanesbrands by 39.7% in the fourth quarter. GAMMA Investing LLC now owns 6,669 shares of the textile maker's stock valued at $54,000 after purchasing an additional 1,895 shares during the period. Institutional investors and hedge funds own 80.31% of the company's stock.

Hanesbrands Price Performance

Shares of HBI traded down $1.43 during trading hours on Thursday, hitting $6.25. 32,422,863 shares of the stock were exchanged, compared to its average volume of 5,798,106. The stock's 50-day moving average price is $8.25 and its two-hundred day moving average price is $7.45. Hanesbrands has a 12-month low of $4.06 and a 12-month high of $9.10. The company has a debt-to-equity ratio of 21.50, a quick ratio of 0.90 and a current ratio of 1.49. The company has a market cap of $2.20 billion, a price-to-earnings ratio of -9.47 and a beta of 1.63.

Hanesbrands (NYSE:HBI - Get Free Report) last released its earnings results on Thursday, February 13th. The textile maker reported $0.17 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.14 by $0.03. Hanesbrands had a negative net margin of 5.24% and a positive return on equity of 44.72%. Research analysts expect that Hanesbrands will post 0.39 earnings per share for the current year.

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.