Hanesbrands Sees Unusually High Options Volume (NYSE:HBI)

Hanesbrands Inc. (NYSE:HBI) was the target of some unusual options trading on Monday. Stock traders bought 9,394 put options on the company. This is an increase of approximately 374% compared to the average volume of 1,981 put options.

Hedge Funds Weigh In On Hanesbrands

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in Hanesbrands by 3.5% during the first quarter. Vanguard Group Inc. now owns 40,265,899 shares of the textile maker’s stock valued at $233,542,000 after buying an additional 1,362,140 shares during the period. Loews Corp increased its stake in shares of Hanesbrands by 108.7% in the 2nd quarter. Loews Corp now owns 29,197,796 shares of the textile maker’s stock worth $143,945,000 after acquiring an additional 15,206,007 shares in the last quarter. Cooke & Bieler LP lifted its position in Hanesbrands by 2.1% during the 2nd quarter. Cooke & Bieler LP now owns 16,329,763 shares of the textile maker’s stock valued at $80,506,000 after acquiring an additional 342,056 shares during the period. Dimensional Fund Advisors LP boosted its stake in Hanesbrands by 18.2% during the second quarter. Dimensional Fund Advisors LP now owns 6,661,235 shares of the textile maker’s stock worth $32,836,000 after acquiring an additional 1,024,308 shares in the last quarter. Finally, Brandes Investment Partners LP grew its holdings in Hanesbrands by 10.9% in the fourth quarter. Brandes Investment Partners LP now owns 4,298,017 shares of the textile maker’s stock worth $19,169,000 after purchasing an additional 423,214 shares during the period. Hedge funds and other institutional investors own 80.31% of the company’s stock.

Hanesbrands Stock Up 5.0 %

Shares of NYSE:HBI opened at $6.06 on Wednesday. Hanesbrands has a 1 year low of $3.54 and a 1 year high of $6.18. The company has a debt-to-equity ratio of 9.57, a current ratio of 1.59 and a quick ratio of 0.62. The stock’s 50-day moving average is $5.25 and its 200 day moving average is $5.05. The company has a market cap of $2.13 billion, a PE ratio of -101.00 and a beta of 1.59.

Hanesbrands (NYSE:HBI) last announced its earnings results on Thursday, August 8th. The textile maker reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.05. The company had revenue of $995.40 million during the quarter, compared to the consensus estimate of $1.35 billion. Hanesbrands had a positive return on equity of 9.84% and a negative net margin of 0.42%. The firm’s revenue for the quarter was down 3.8% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.01) earnings per share. Sell-side analysts anticipate that Hanesbrands will post 0.46 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently commented on HBI. Stifel Nicolaus lifted their price objective on Hanesbrands from $4.50 to $6.00 and gave the stock a “hold” rating in a report on Monday. Barclays lifted their price target on Hanesbrands from $5.00 to $6.00 and gave the stock an “equal weight” rating in a research note on Monday. Finally, Wedbush reissued a “neutral” rating and set a $5.00 price objective on shares of Hanesbrands in a research note on Thursday, June 6th. Five equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $5.63.

Hanesbrands Company Profile

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.