Hanesbrands Target of Unusually Large Options Trading (NYSE:HBI)

Hanesbrands Inc. (NYSE:HBI) was the target of some unusual options trading on Monday. Traders purchased 32,044 call options on the stock. This represents an increase of approximately 1,186% compared to the average volume of 2,492 call options.

Institutional Trading of Hanesbrands

Several hedge funds have recently bought and sold shares of HBI. Vanguard Group Inc. raised its stake in shares of Hanesbrands by 3.5% in the 1st quarter. Vanguard Group Inc. now owns 40,265,899 shares of the textile maker’s stock valued at $233,542,000 after purchasing an additional 1,362,140 shares during the period. Shell Asset Management Co. grew its holdings in shares of Hanesbrands by 127.0% during the first quarter. Shell Asset Management Co. now owns 20,417 shares of the textile maker’s stock worth $118,000 after buying an additional 11,423 shares in the last quarter. International Assets Investment Management LLC raised its position in Hanesbrands by 481.0% in the 3rd quarter. International Assets Investment Management LLC now owns 520,037 shares of the textile maker’s stock valued at $3,822,000 after buying an additional 430,534 shares during the last quarter. Brandes Investment Partners LP lifted its stake in Hanesbrands by 3.9% in the 2nd quarter. Brandes Investment Partners LP now owns 4,834,202 shares of the textile maker’s stock valued at $23,761,000 after acquiring an additional 183,069 shares in the last quarter. Finally, Whittier Trust Co. acquired a new position in Hanesbrands during the 3rd quarter worth approximately $51,000. 80.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Hanesbrands Stock Up 4.6 %

Hanesbrands stock opened at $8.84 on Wednesday. The company’s 50 day simple moving average is $7.41 and its 200 day simple moving average is $6.16. The company has a debt-to-equity ratio of 21.50, a current ratio of 1.49 and a quick ratio of 0.90. The firm has a market capitalization of $3.11 billion, a price-to-earnings ratio of -13.67 and a beta of 1.58. Hanesbrands has a fifty-two week low of $3.58 and a fifty-two week high of $9.10.

Hanesbrands (NYSE:HBI) last posted 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. The firm had revenue of $937.10 million for the quarter, compared to analyst estimates of $936.47 million. Hanesbrands had a positive return on equity of 44.72% and a negative net margin of 5.24%. The company’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.10 earnings per share. As a group, sell-side analysts anticipate that Hanesbrands will post 0.39 EPS for the current 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.