NEW YORK (TheStreet) -- Hanesbrands (HBI) shares are up 6.1% to $79.99 on Friday following the release of the company's first quarter earnings report.
The company raised full year 2014 financial guidance, increasing EPS estimates by 20 cents to between $4.80 and $5.00, and adjusted operating profit predictions up by $25 million to between $665 million and $685 million.
Adjusted earnings per share were 76 cents, a 49% year over year quarterly increase.
Hanesbrands reported a year over year quarterly net sales increase of 12% to $1.06 billion, missing analysts estimates of $1.35 billion.
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TheStreet Ratings team rates HANESBRANDS INC as a Buy with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation:
"We rate HANESBRANDS INC (HBI) a BUY. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its solid stock price performance, revenue growth, notable return on equity, good cash flow from operations and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income."
Highlights from the analysis by TheStreet Ratings Team goes as follows: