Hanesbrands (HBI) Sees Unusually-High Trading Volume After Better-Than-Expected Earnings

Hanesbrands Inc. (NYSE:HBI) saw strong trading volume on Thursday following a better than expected earnings announcement. 29,562,320 shares changed hands during trading, an increase of 333% from the previous session’s volume of 6,823,524 shares.The stock last traded at $18.71 and had previously closed at $15.57.

The textile maker reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.02. The business had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.71 billion. Hanesbrands had a return on equity of 85.49% and a net margin of 0.10%. The business’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.52 EPS.

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The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 12th. Shareholders of record on Tuesday, February 19th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 3.21%. Hanesbrands’s dividend payout ratio (DPR) is presently 31.09%.

A number of analysts have recently weighed in on the company. ValuEngine raised Hanesbrands from a “strong sell” rating to a “sell” rating in a research report on Friday. Buckingham Research lowered their price objective on Hanesbrands from $26.00 to $24.00 and set a “buy” rating for the company in a research report on Wednesday, October 17th. Zacks Investment Research raised Hanesbrands from a “sell” rating to a “hold” rating in a research report on Tuesday, October 23rd. Standpoint Research assumed coverage on Hanesbrands in a research report on Tuesday, October 23rd. They issued a “buy” rating and a $20.00 price objective for the company. Finally, Barclays set a $18.00 price objective on Hanesbrands and gave the stock a “hold” rating in a research report on Thursday, November 1st. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $20.33.

In related news, Director Jessica Tuchman Mathews sold 15,000 shares of the firm’s stock in a transaction on Friday, December 14th. The stock was sold at an average price of $13.57, for a total value of $203,550.00. Following the completion of the transaction, the director now owns 139,693 shares in the company, valued at approximately $1,895,634.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider W Howard Upchurch, Jr. sold 40,688 shares of the firm’s stock in a transaction on Wednesday, December 12th. The stock was sold at an average price of $14.81, for a total value of $602,589.28. Following the completion of the transaction, the insider now owns 453,282 shares of the company’s stock, valued at approximately $6,713,106.42. The disclosure for this sale can be found here. In the last 90 days, insiders purchased 36,600 shares of company stock valued at $541,329 and sold 57,803 shares valued at $841,121. Company insiders own 1.06% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. IFG Advisory LLC purchased a new position in Hanesbrands in the 4th quarter worth $145,000. FDx Advisors Inc. raised its stake in Hanesbrands by 9.0% in the 4th quarter. FDx Advisors Inc. now owns 63,685 shares of the textile maker’s stock worth $798,000 after acquiring an additional 5,262 shares during the last quarter. Barings LLC raised its stake in Hanesbrands by 271.8% in the 4th quarter. Barings LLC now owns 80,300 shares of the textile maker’s stock worth $1,006,000 after acquiring an additional 58,700 shares during the last quarter. Piedmont Investment Advisors Inc. raised its stake in Hanesbrands by 5.8% in the 4th quarter. Piedmont Investment Advisors Inc. now owns 31,284 shares of the textile maker’s stock worth $392,000 after acquiring an additional 1,711 shares during the last quarter. Finally, Point View Wealth Management Inc. raised its stake in Hanesbrands by 41.8% in the 4th quarter. Point View Wealth Management Inc. now owns 155,895 shares of the textile maker’s stock worth $1,953,000 after acquiring an additional 45,943 shares during the last quarter.

The company has a market cap of $5.63 billion, a price-to-earnings ratio of 9.69, a PEG ratio of 0.85 and a beta of 0.86. The company has a quick ratio of 0.79, a current ratio of 1.84 and a debt-to-equity ratio of 4.44.

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Hanesbrands Company Profile (NYSE:HBI)

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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