Hanesbrands Inc. (NYSE:HBI) was the recipient of a large drop in short interest during the month of November. As of November 15th, there was short interest totalling 42,860,555 shares, a drop of 6.9% from the October 31st total of 46,045,482 shares. Based on an average trading volume of 7,105,528 shares, the days-to-cover ratio is presently 6.0 days. Approximately 12.0% of the shares of the company are sold short.
NYSE HBI opened at $15.45 on Wednesday. Hanesbrands has a 12 month low of $14.39 and a 12 month high of $23.33. The company has a market cap of $5.74 billion, a price-to-earnings ratio of 8.01, a PEG ratio of 0.92 and a beta of 0.37. The company has a current ratio of 1.84, a quick ratio of 0.79 and a debt-to-equity ratio of 4.44.
Hanesbrands (NYSE:HBI) last released its earnings results on Thursday, November 1st. The textile maker reported $0.55 EPS for the quarter, hitting analysts’ consensus estimates of $0.55. Hanesbrands had a net margin of 0.10% and a return on equity of 85.49%. The company had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.87 billion. During the same quarter last year, the business earned $0.60 EPS. The firm’s revenue was up 2.7% compared to the same quarter last year. As a group, analysts expect that Hanesbrands will post 1.73 earnings per share for the current year.
HBI has been the topic of several recent research reports. Buckingham Research lowered their price objective on shares of Hanesbrands from $28.00 to $26.00 and set a “buy” rating on the stock in a research note on Thursday, August 16th. Standpoint Research initiated coverage on shares of Hanesbrands in a research note on Tuesday, October 23rd. They issued a “buy” rating and a $20.00 price objective on the stock. Barclays set a $18.00 price objective on shares of Hanesbrands and gave the stock a “hold” rating in a research note on Thursday, November 1st. Zacks Investment Research upgraded shares of Hanesbrands from a “sell” rating to a “hold” rating in a research note on Tuesday, October 23rd. Finally, Macquarie lowered their price objective on shares of Hanesbrands from $15.00 to $14.00 and set a “hold” rating on the stock in a research note on Thursday, August 23rd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company. Hanesbrands has an average rating of “Hold” and an average price target of $21.60.
In other Hanesbrands news, CFO Barry Hytinen acquired 10,100 shares of the stock in a transaction dated Tuesday, November 20th. The shares were purchased at an average price of $14.59 per share, for a total transaction of $147,359.00. Following the purchase, the chief financial officer now directly owns 91,238 shares of the company’s stock, valued at $1,331,162.42. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director Ronald L. Nelson acquired 25,000 shares of the stock in a transaction dated Friday, November 2nd. The stock was acquired at an average price of $15.95 per share, for a total transaction of $398,750.00. Following the purchase, the director now directly owns 131,683 shares in the company, valued at $2,100,343.85. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 61,600 shares of company stock worth $940,079. Insiders own 1.06% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HBI. Cornerstone Wealth Management LLC bought a new stake in Hanesbrands during the 2nd quarter worth approximately $250,000. Alps Advisors Inc. bought a new stake in Hanesbrands during the 2nd quarter worth approximately $384,000. Advisory Services Network LLC raised its stake in Hanesbrands by 124.7% during the 2nd quarter. Advisory Services Network LLC now owns 8,503 shares of the textile maker’s stock worth $187,000 after acquiring an additional 4,719 shares during the period. Raymond James Financial Services Advisors Inc. purchased a new stake in Hanesbrands during the 2nd quarter valued at approximately $5,163,000. Finally, TD Asset Management Inc. grew its holdings in Hanesbrands by 222.0% during the 2nd quarter. TD Asset Management Inc. now owns 1,387,319 shares of the textile maker’s stock valued at $30,549,000 after buying an additional 956,491 shares in the last quarter.
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Hanesbrands Inc, a consumer goods company, designs, manufactures, sources, and sells a range of basic apparel for men, women, and children in the United States. The company operates through three segments: Innerwear, Activewear, and International. It sells bras, panties, men's underwear, children's underwear, activewear, socks, hosiery, intimate apparel, shapewears, and home goods; and T-shirts, fleece, sport shirts, performance T-shirts and shorts, sports bras, and thermals, as well as licensed logo apparel in collegiate bookstores, mass retailers, and other channels.
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