Hanesbrands (HBI) Shares are Up 2.91%

Hanesbrands (HBI) : Traders are bullish on Hanesbrands (HBI) as it has outperformed the S&P 500 by a wide margin of 3.44% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 2.95%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 2.91% in the last 1 week, and is up 3.83% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.

Hanesbrands Inc. is up 1.79% in the last 3-month period. Year-to-Date the stock performance stands at -4%. The stock has recorded a 20-day Moving Average of 6.15% and the 50-Day Moving Average is 6.54%.


Hanesbrands (NYSE:HBI): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $27.02 and $27.02 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $27.96. The buying momentum continued till the end and the stock did not give up its gains. It closed at $27.90, notching a gain of 2.91% for the day. The total traded volume was 5,686,173 . The stock had closed at $27.11 on the previous day.

Also, Equity analysts at the Brokerage firm Citigroup maintains its rating on Hanesbrands (NYSE:HBI). The rating major has initiated the coverage with buy rating on the shares. The Analysts at Citigroup lowers the price target from $37 per share to $32 per share. The rating by the firm was issued on August 4, 2016.

Hanesbrands Inc. is a manufacturer and marketer of apparel. The Company operates through four segments: Innerwear, Activewear, Direct to Consumer and International. The Companys innerwear and activewear apparel brands include Hanes, Champion, Bali, Playtex, Maidenform, JMS/Just My Size, Leggs, Flexees, barely there, Wonderbra, Gear for Sports and Lilyette. Its international brands also include DIM, Nur Die/Nur Der, Zorba, Rinbros and Shock Absorber, among others. The Companys Innerwear segment focuses on apparel products, such as intimate apparel, mens underwear, childrens underwear and socks. In the activewear market, it sells products, such as T-shirts and fleece to both retailers and wholesalers. Its Direct to Consumer operations include its domestic Company-operated outlet stores, catalogs and Website operations that sell its branded products to consumers in the United States. The Companys international markets are Europe, Canada, Japan, Mexico, Brazil and Australia.

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