Hanesbrands Inc. (HBI) Sees Large Growth in Short Interest

Hanesbrands Inc. (NYSE:HBI) saw a large growth in short interest in the month of October. As of October 31st, there was short interest totalling 64,722,962 shares, a growth of 9.2% from the October 13th total of 59,283,520 shares. Based on an average daily volume of 5,584,010 shares, the days-to-cover ratio is currently 11.6 days. Currently, 18.0% of the company’s shares are sold short.

Several research firms have commented on HBI. Deutsche Bank began coverage on Hanesbrands in a report on Monday, October 23rd. They set a “buy” rating and a $29.00 price objective on the stock. Zacks Investment Research upgraded Hanesbrands from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a report on Monday, October 9th. Vetr downgraded Hanesbrands from a “strong-buy” rating to a “buy” rating and set a $26.36 price objective on the stock. in a report on Monday, August 7th. Stifel Nicolaus restated a “hold” rating and set a $23.00 price objective on shares of Hanesbrands in a report on Tuesday, September 26th. Finally, Instinet downgraded Hanesbrands from a “buy” rating to a “neutral” rating and set a $26.00 price objective on the stock. in a report on Thursday, September 21st. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and ten have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $26.13.

Shares of Hanesbrands (NYSE HBI) traded up $0.31 during trading hours on Monday, hitting $21.15. The stock had a trading volume of 10,814,865 shares, compared to its average volume of 5,247,699. Hanesbrands has a twelve month low of $18.90 and a twelve month high of $25.73. The stock has a market cap of $7,710.00, a P/E ratio of 10.69, a PEG ratio of 1.19 and a beta of 0.72. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.88 and a quick ratio of 0.85.

Hanesbrands (NYSE:HBI) last announced its earnings results on Wednesday, November 1st. The textile maker reported $0.60 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.60. Hanesbrands had a return on equity of 64.73% and a net margin of 9.43%. The firm had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same period in the previous year, the business earned $0.56 EPS. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. sell-side analysts forecast that Hanesbrands will post 1.94 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 5th. Investors of record on Tuesday, November 14th will be paid a dividend of $0.15 per share. The ex-dividend date is Monday, November 13th. This represents a $0.60 annualized dividend and a yield of 2.84%. Hanesbrands’s dividend payout ratio (DPR) is 37.04%.

A number of hedge funds have recently made changes to their positions in the stock. Alps Advisors Inc. grew its stake in Hanesbrands by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 23,635 shares of the textile maker’s stock worth $547,000 after buying an additional 61 shares during the last quarter. CIBC Asset Management Inc lifted its position in Hanesbrands by 0.3% during the 2nd quarter. CIBC Asset Management Inc now owns 36,700 shares of the textile maker’s stock worth $850,000 after acquiring an additional 106 shares during the period. Sentry Investment Management LLC lifted its position in Hanesbrands by 0.4% during the 2nd quarter. Sentry Investment Management LLC now owns 24,878 shares of the textile maker’s stock worth $576,000 after acquiring an additional 109 shares during the period. ARGI Investment Services LLC lifted its position in Hanesbrands by 1.2% during the 2nd quarter. ARGI Investment Services LLC now owns 10,696 shares of the textile maker’s stock worth $248,000 after acquiring an additional 127 shares during the period. Finally, QS Investors LLC lifted its position in Hanesbrands by 2.8% during the 2nd quarter. QS Investors LLC now owns 5,100 shares of the textile maker’s stock worth $118,000 after acquiring an additional 140 shares during the period. Hedge funds and other institutional investors own 96.92% of the company’s stock.

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Hanesbrands Company Profile

Hanesbrands Inc is a marketer of basic innerwear and activewear apparel in the Americas, Europe, Australia and Asia/Pacific under apparel brands, such as Hanes, Champion, Maidenform, DIM, Bali, Playtex, Bonds, JMS/Just My Size, Nur Die/Nur Der, L’eggs, Lovable, Wonderbra, Flexees, Gear for Sports and Berlei.

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