Hanesbrands Sees Unusually High Options Volume (NYSE:HBI)

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Hanesbrands Inc. (NYSE:HBI) saw unusually large options trading activity on Tuesday. Investors acquired 30,124 call options on the company. This is an increase of 470% compared to the average volume of 5,284 call options.

Shares of NYSE:HBI opened at $12.55 on Wednesday. Hanesbrands has a 12 month low of $6.96 and a 12 month high of $17.08. The company has a quick ratio of 1.11, a current ratio of 2.21 and a debt-to-equity ratio of 5.26. The company’s fifty day simple moving average is $11.36 and its 200 day simple moving average is $11.50. The firm has a market cap of $3.98 billion, a price-to-earnings ratio of 8.84, a PEG ratio of 5.68 and a beta of 1.54.

Hanesbrands (NYSE:HBI) last issued its quarterly earnings data on Thursday, April 30th. The textile maker reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.06). Hanesbrands had a return on equity of 50.63% and a net margin of 7.75%. The company had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same quarter in the previous year, the business earned $0.27 earnings per share. The company’s revenue was down 17.2% on a year-over-year basis. Research analysts expect that Hanesbrands will post 0.61 earnings per share for the current fiscal year.

A number of equities analysts have recently weighed in on HBI shares. Credit Suisse Group raised shares of Hanesbrands from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $13.00 to $15.00 in a research report on Tuesday. B. Riley reissued a “buy” rating and set a $14.00 price target on shares of Hanesbrands in a research report on Wednesday, June 24th. UBS Group lifted their price target on shares of Hanesbrands from $9.00 to $9.50 and gave the stock a “neutral” rating in a research report on Monday, May 4th. Cfra reduced their price target on shares of Hanesbrands from $12.00 to $8.00 and set a “sell” rating on the stock in a research report on Thursday, April 30th. Finally, ValuEngine raised shares of Hanesbrands from a “sell” rating to a “hold” rating in a research report on Monday, June 1st. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. Hanesbrands has a consensus rating of “Hold” and an average price target of $13.05.

Hedge funds have recently modified their holdings of the business. OmniStar Financial Group Inc. acquired a new stake in Hanesbrands in the 1st quarter valued at $29,000. NuWave Investment Management LLC increased its stake in Hanesbrands by 45.4% in the 2nd quarter. NuWave Investment Management LLC now owns 3,479 shares of the textile maker’s stock valued at $37,000 after buying an additional 1,087 shares during the last quarter. Point72 Hong Kong Ltd increased its stake in Hanesbrands by 306.6% in the 4th quarter. Point72 Hong Kong Ltd now owns 3,440 shares of the textile maker’s stock valued at $51,000 after buying an additional 2,594 shares during the last quarter. FDx Advisors Inc. acquired a new stake in Hanesbrands in the 1st quarter valued at $68,000. Finally, Carroll Financial Associates Inc. increased its stake in Hanesbrands by 76.3% in the 1st quarter. Carroll Financial Associates Inc. now owns 9,128 shares of the textile maker’s stock valued at $71,000 after buying an additional 3,950 shares during the last quarter. Hedge funds and other institutional investors own 98.52% of the company’s stock.

About Hanesbrands

Hanesbrands, Inc is a consumer goods company, which engages in the design, manufacture, sourcing, and sale of everyday basic innerwear and activewear apparel in the Americas, Europe, Australia and Asia Pacific. It operates through the following three segments: Innerwear, Activewear and International.

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