Traders Purchase Large Volume of Hanesbrands Call Options (NYSE:HBI)

Hanesbrands Inc. (NYSE:HBI) saw unusually large options trading activity on Thursday. Stock investors acquired 4,055 call options on the company. This is an increase of 96% compared to the average volume of 2,070 call options.

Institutional Trading of Hanesbrands

Several institutional investors have recently added to or reduced their stakes in the business. Loews Corp grew its position in Hanesbrands by 108.7% during 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 during the last quarter. Vanguard Group Inc. grew its holdings in shares of Hanesbrands by 3.5% in the first quarter. Vanguard Group Inc. now owns 40,265,899 shares of the textile maker’s stock worth $233,542,000 after purchasing an additional 1,362,140 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Hanesbrands by 18.2% in the second quarter. Dimensional Fund Advisors LP now owns 6,661,235 shares of the textile maker’s stock worth $32,836,000 after purchasing an additional 1,024,308 shares during the last quarter. Squarepoint Ops LLC raised its holdings in Hanesbrands by 193.4% during the 2nd quarter. Squarepoint Ops LLC now owns 834,104 shares of the textile maker’s stock valued at $4,112,000 after buying an additional 549,855 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in Hanesbrands during the 1st quarter valued at $3,065,000. 80.31% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on HBI. Barclays boosted their target price on shares of Hanesbrands from $5.00 to $6.00 and gave the company an “equal weight” rating in a research note on Monday, August 12th. UBS Group increased their price objective on Hanesbrands from $5.00 to $6.50 and gave the company a “neutral” rating in a report on Tuesday, August 27th. Finally, Stifel Nicolaus boosted their price objective on Hanesbrands from $4.50 to $6.00 and gave the company a “hold” rating in a research note on Monday, August 12th. Six investment analysts have rated the stock with a hold rating, According to MarketBeat, Hanesbrands presently has an average rating of “Hold” and a consensus price target of $5.80.

Hanesbrands Price Performance

Shares of HBI traded up $1.43 during midday trading on Thursday, reaching $8.53. The stock had a trading volume of 2,931,053 shares, compared to its average volume of 7,737,967. The company has a current ratio of 1.46, a quick ratio of 0.86 and a debt-to-equity ratio of 50.06. The company has a market capitalization of $3.00 billion, a price-to-earnings ratio of -9.64 and a beta of 1.58. The company’s 50-day moving average is $6.94 and its 200 day moving average is $5.82. Hanesbrands has a 12-month low of $3.58 and a 12-month high of $8.70.

Hanesbrands (NYSE:HBI) last announced its quarterly earnings data on Thursday, August 8th. The textile maker reported $0.15 earnings per share (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 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% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.01) EPS. On average, equities analysts predict that Hanesbrands will post 0.34 EPS for the current fiscal year.

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.