Hanesbrands Inc. (NYSE:HBI – Get Free Report) shares reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $7.58 and last traded at $7.24, with a volume of 543569 shares trading hands. The stock had previously closed at $7.21.
Wall Street Analysts Forecast Growth
HBI has been the topic of several recent analyst reports. 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. UBS Group upped their price target 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, Barclays upped their price target on shares of Hanesbrands from $5.00 to $6.00 and gave the company an “equal weight” rating in a report on Monday, August 12th. Six equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $5.80.
Hanesbrands Stock Down 1.5 %
Hanesbrands (NYSE:HBI – Get Free Report) last issued its earnings results on Thursday, August 8th. The textile maker reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.05. The company had revenue of $995.40 million for the quarter, compared to analysts’ expectations of $1.35 billion. Hanesbrands had a negative net margin of 6.02% and a positive return on equity of 33.23%. The firm’s revenue was down 3.8% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.01) earnings per share. On average, sell-side analysts predict that Hanesbrands Inc. will post 0.34 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Hanesbrands
Several institutional investors have recently modified their holdings of HBI. Rothschild Investment LLC bought a new position in shares of Hanesbrands during the second quarter worth about $39,000. Blue Trust Inc. grew its position in Hanesbrands by 42.3% in the 3rd quarter. Blue Trust Inc. now owns 5,359 shares of the textile maker’s stock valued at $39,000 after buying an additional 1,594 shares in the last quarter. Intech Investment Management LLC bought a new position in Hanesbrands in the 2nd quarter valued at about $51,000. Whittier Trust Co. bought a new position in Hanesbrands in the 3rd quarter valued at about $51,000. Finally, Fifth Third Wealth Advisors LLC bought a new position in Hanesbrands in the 2nd quarter valued at about $55,000. Institutional investors own 80.31% of the company’s stock.
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.
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