Hanesbrands Inc. Stock Shares Rise On Impressive First Quarter
Warrior Trading | Apr 13, 2017 08:38AM ET
Hanesbrands Inc. (NYSE:HBI)
Hanesbrands Inc. (HBI), a national consumer goods company yesterday reported their preliminary first quarter 2017 financial results. Hanesbrand reported first quarter adjusted earnings of $0.28 to $0.29 per share.
Hanesbrand reported first quarter net sales of $1.38 billion. They also announced that their is a succession plan underway for a new CFO, as the current CFO Rick Moss will be retiring at the end of the year.
Hanesbrands Inc. CEO’s Comments
h3 HBI Technical Analysis/h3"We’re off to a strong start in 2017, and we are diligently focused on daily execution and performance,” said Hanes Chief Executive Officer Gerald W. Evans Jr. “This year is an important transition as we set the foundation of another decade of success.” Business Wire
HBI opened trading yesterday at $20.85 which exactly the same as the previous day’s trading close. Shares closed trading yesterday at $21.11 and spiked up after market to $22.40, equivalent to a 6% increase from the closing price. Taking a look at the daily chart we can see that the last time HBI traded above these levels we have to go back to February 22nd when it traded at $22.71.
Taking a closer look at the daily chart we can see that before the spike up HBI had been in an overall downward trend dating back to November 15th when it traded at $25.76. HBI has a float of 376.17 million shares and traded below the normal daily trading volume on Wednesday.
For trading purposes, I would like to see HBI open trading on Thursday above $22 and if it does I would be looking to take a long position at the bell. My stop loss would be $0.15 from my entry position fearing anything more than that and the stock would start to fill in the gap up.
h3 Company Profile/h3Hanesbrands Inc., a consumer goods company, designs, manufactures, sources, and sells various basic apparel for men, women, and children in the United States. The company operates through four segments:
Innerwear, Activewear, Direct to Consumer, and International. It sells bras, panties, shapewears, hosiery, men’s underwear, children’s underwear, and socks; and other activewear, such as 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.
Get The News You Want
The company licenses its Champion name for footwear and sports accessories. It provides its products primarily under the Hanes, Champion, Maidenform, DIM, Playtex, Bali, JMS/Just My Size, Nur Die/Nur Der, L’eggs, Lovable, Wonderbra, Flexees, Lilyette, Gear for Sports, Bonds, Berlei, Shock Absorber, Abanderado, Rinbros, and Zorba brand names.
The company markets its products through retailers, wholesalers, and third party embellishers, as well as directly to consumers. As of December 31, 2016, it operated 252 outlet stores in the United States and the Commonwealth of Puerto Rico, as well as 460 retail and outlet stores internationally; and Websites under the Hanes, One Hanes Place, JMS/Just My Size, and Champion names..
The company also sells its products in Europe, Australia, Asia, Latin America, Canada, the Middle East, Africa, and the Caribbean. Hanesbrands Inc. was founded in 1901 and is headquartered in Winston-Salem, North Carolina.
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.