The Winston Salem, NC-based clothing company reported 2015 third quarter earnings of 50 cents per share. Analysts surveyed by Zacks Investment Research expected the company to report earnings of 45 cents per share.
Hanesbrand also reported revenue of $1.59 billion, greater than Credit Suisse analysts' projections of $1.56 billion.
"Hanesbrands demonstrated exceptional results in light of a retail environment that has become increasingly choppy, with consumer traffic weak into stores and retailers looking to manage inventory and vendors more carefully," Credit Suisse said. The firm maintained its "outperform" rating on the stock.
This quarter shows the power of Hanesbrands' acquisition competency and strong cash generating abilities, Credit Suisse said, adding that the company's sporting goods and intimates sales had increased.
Shares of Hanesbrands were up by 14.82% to $31.69 on heavy trading volume. So far today, 9.19 million shares of Hanesbrands have exchanged hands versus its 30-day average of 4.01 million shares.
Separately, TheStreet Ratings team rates HANESBRANDS INC as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:
We rate HANESBRANDS INC (HBI) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, expanding profit margins, increase in stock price during the past year and notable return on equity. We feel its strengths outweigh the fact that the company has had sub par growth in net income.
You can view the full analysis from the report here: HBI