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Hanesbrands shares jump more than 8 percent

A customer at a Target store in Chicago, Illinois shops for Hanes underwear.
Tannen Maury | Bloomberg | Getty Images

Hanesbrands shares jumped more than 8 percent Friday after reporting earnings in-line with expectations.

The apparel maker reported revenues of $1.76 billion, matching estimates of analysts polled by Reuters and marking an 11 percent increase from the same period last year. Adjusted earnings per share (excluding items) of $0.56 also matched expectations.

UBS analyst Michael Binetti maintained his "buy" rating on the stock given strong operating cash flow and the firm's view that M&A charges, a key concern around the stock, will diminish next year. He also said in the late Thursday note that "the worst of the industry headwinds are now behind" Hanesbrands.

Shares of Hanesbrands are still down 12.4 percent for the year so far.

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