Hanesbrands Inc. (NYSE:HBI) Short Interest Up 5.7% in November

Hanesbrands Inc. (NYSE:HBI) was the recipient of a significant growth in short interest during the month of November. As of November 15th, there was short interest totalling 49,370,000 shares, a growth of 5.7% from the October 31st total of 46,690,000 shares. Based on an average daily volume of 6,360,000 shares, the days-to-cover ratio is presently 7.8 days. Currently, 14.2% of the company’s shares are sold short.

Hanesbrands Stock Down 1.6 %

HBI stock traded down $0.14 during trading on Tuesday, reaching $8.77. 3,949,585 shares of the stock traded hands, compared to its average volume of 7,697,082. The business’s 50 day moving average price is $7.60 and its 200-day moving average price is $6.29. Hanesbrands has a 52-week low of $3.70 and a 52-week high of $9.10. The company has a debt-to-equity ratio of 21.50, a current ratio of 1.49 and a quick ratio of 0.90.

Hanesbrands (NYSE:HBI) last issued its earnings results on Thursday, November 7th. The textile maker reported $0.15 earnings per share for the quarter, topping 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 the consensus estimate of $936.47 million. During the same quarter in the prior year, the business earned $0.10 earnings per share. The company’s revenue was down 2.5% compared to the same quarter last year. On average, equities research analysts anticipate that Hanesbrands will post 0.39 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD raised its stake in Hanesbrands by 8.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 163,147 shares of the textile maker’s stock valued at $947,000 after buying an additional 12,637 shares in the last quarter. Cetera Advisors LLC raised its stake in Hanesbrands by 233.4% during the first quarter. Cetera Advisors LLC now owns 35,481 shares of the textile maker’s stock valued at $206,000 after buying an additional 24,839 shares in the last quarter. CWM LLC raised its stake in Hanesbrands by 25.6% during the second quarter. CWM LLC now owns 34,283 shares of the textile maker’s stock valued at $169,000 after buying an additional 6,998 shares in the last quarter. O Keefe Stevens Advisory Inc. acquired a new stake in Hanesbrands during the second quarter valued at approximately $57,000. Finally, SG Americas Securities LLC raised its stake in Hanesbrands by 1,211.6% during the second quarter. SG Americas Securities LLC now owns 278,326 shares of the textile maker’s stock valued at $1,372,000 after buying an additional 257,105 shares in the last quarter. Hedge funds and other institutional investors own 80.31% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on HBI. UBS Group upgraded Hanesbrands from a “neutral” rating to a “buy” rating and upped their target price for the company from $9.00 to $11.00 in a research note on Tuesday, November 26th. Stifel Nicolaus upped their target price on Hanesbrands from $4.50 to $6.00 and gave the company a “hold” rating in a research note on Monday, August 12th. Finally, Barclays boosted their price target on Hanesbrands from $6.00 to $7.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $6.90.

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.