Hanesbrands Inc. (NYSE:HBI – Get Free Report) shares reached a new 52-week high in trading on Friday after coming out with a better-than-expected earnings report. The company traded as high as $6.19 and was last seen at $6.10 on volume of 1,1081,162 shares changing hands. The stock had previously closed at $6.14.
The textile maker reported earnings per share of $0.15 for the quarter, beating the consensus estimate of $0.10 by $0.05. Hanesbrands had a positive return on equity of 9.84% and a negative net margin of 0.42%. The company posted revenue of $995.40 million for the quarter, compared to the consensus estimate of $1.35 billion. During the same period last year, the company reported earnings per share of -$0.01. Hanesbrands’ revenue declined 3.8% compared to the same quarter last year.
Wall Street analysts predict growth
Several equities analysts have recently commented on HBI shares. Barclays increased their price target on Hanesbrands from $4.00 to $5.00 and gave the stock an “equal weight” rating in a research report on Friday, May 10. Wedbush reiterated a “neutral” rating and issued a $5.00 price target on shares of Hanesbrands in a research report on Thursday, June 6. Five analysts have rated the stock with a “hold” rating. The stock has an average rating of “hold” and an average price target of $5.00, according to data from MarketBeat.com.
Check out our latest report on Hanesbrands
Hedge funds comment on Hanesbrands
Large investors have recently made changes to their positions in the stock. Loews Corp increased its holdings in shares of Hanesbrands by 108.7% in the second quarter. Loews Corp now owns 29,197,796 shares of the textile maker’s stock worth $143,945,000 after buying an additional 15,206,007 shares in the last quarter. Gate City Capital Management LLC acquired a new position in Hanesbrands in the fourth quarter valued at $9,812,000. Morningstar Investment Services LLC increased its holdings in Hanesbrands by 93.1% in the fourth quarter. Morningstar Investment Services LLC now owns 4,290,891 shares of the textile maker’s stock worth $19,051,000 after buying an additional 2,069,204 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Hanesbrands by 3.5% in the first quarter. Vanguard Group Inc. now owns 40,265,899 shares of the textile maker’s stock valued at $233,542,000 after purchasing an additional 1,362,140 shares during the same period. Finally, Dimensional Fund Advisors LP increased its stake in shares of Hanesbrands by 18.2% in the second quarter. Dimensional Fund Advisors LP now owns 6,661,235 shares of the textile maker’s stock valued at $32,836,000 after purchasing an additional 1,024,308 shares during the last quarter. Hedge funds and other institutional investors own 80.31% of the company’s stock.
Price development of Hanesbrands shares
The stock’s 50-day average price is $5.22 and its 200-day average price is $5.02. The company has a market cap of $2.14 billion, a price-to-earnings ratio of -101.67 and a beta of 1.59. The company has a current ratio of 1.59, a quick ratio of 0.62 and a debt-to-equity ratio of 9.57.
Hanesbrands Company Profile
(Get free report)
Hanesbrands Inc, a consumer products company, designs, manufactures, sources and sells a line of underwear for men, women and children in the Americas, Europe, Asia Pacific and internationally. The company operates through three segments: Underwear, Activewear and International.
Read more
Get daily news and reviews for Hanesbrands – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Hanesbrands and related companies with MarketBeat.com’s FREE daily email newsletter.
