Hanesbrands Rises On Unusually High Volume (HBI)

NEW YORK ( TheStreet) -- Hanesbrands (NYSE: HBI) is trading at unusually high volume Friday with 4.6 million shares changing hands. It is currently at four times its average daily volume and trading up $3.15 (+11.7%) at $30.09 as of 3:40 p.m. ET.

Hanesbrands has a market cap of $2.75 billion and is part of the consumer goods sector and consumer non-durables industry. Shares are up 23.2% year to date as of the close of trading on Thursday.

Hanesbrands Inc., a consumer goods company, engages in designing, manufacturing, sourcing, and selling a range of basic apparels in the United States and internationally. The company has a P/E ratio of 10.1, below the average consumer non-durables industry P/E ratio of 10.5 and below the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Hanesbrands as a buy. The company's strengths can be seen in multiple areas, such as its compelling growth in net income, notable return on equity, attractive valuation levels, good cash flow from operations and impressive record of earnings per share growth. We feel these strengths outweigh the fact that the company has had generally poor debt management on most measures that we evaluated. You can view the full Hanesbrands Ratings Report.

See all heavy volume stocks in our stocks moving on unusual volume list or get investment ideas from our investment research center.

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