Hanesbrands Inc (HBI) Shares on the Rise: Short-term Analysis

Hanesbrands Inc [HBI] stock is trading at $4.81, up 3.66%. One of the good ways to gauge the recent performance is if the stock’s short-term value is rising or falling. The HBI shares have gain 10.83% over the last week, with a monthly amount glided 12.12%, and seem to be holding up well over a long-time horizon.

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From an analyst’s perspective:

Hanesbrands Inc [NYSE: HBI] stock has seen the most recent analyst activity on November 10, 2022, when Credit Suisse downgraded its rating to a Neutral and also revised its price target to $7 from $10. Previously, Wells Fargo downgraded its rating to Underweight on October 31, 2022, and dropped its price target to $5. On July 13, 2022, downgrade downgraded it’s rating to In-line. Barclays downgraded its rating to a Equal Weight and decreased its price target to $13 on June 08, 2022. Stifel downgraded its rating to a Hold and reduced its price target to $13 on May 06, 2022. Wedbush started tracking with a Neutral rating for this stock on October 05, 2021, and assigned it a price target of $18. In a note dated July 13, 2021, Wells Fargo upgraded an Overweight rating on this stock and boosted its target price from $20 to $23.

Hanesbrands Inc [HBI] stock has fluctuated between $3.54 and $5.96 over the past year. Currently, Wall Street analysts expect the stock to reach $9.5 within the next 12 months. Hanesbrands Inc [NYSE: HBI] shares were valued at $4.81 at the most recent close of the market. An investor can expect a potential return of 97.51% based on the average HBI price forecast.

Analyzing the HBI fundamentals

Hanesbrands Inc [NYSE:HBI] reported sales of 5.64B for the trailing twelve months, which represents a drop of -11.98%. Gross Profit Margin for this corporation currently stands at -0.03% with Operating Profit Margin at -0.22%, Pretax Profit Margin comes in at -0.24%, and Net Profit Margin reading is -0.51%. To continue investigating profitability, this company’s Return on Assets is posted at -1.53, Equity is -2.61 and Total Capital is -22.65. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at -6.

Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 4.67 points at the first support level, and at 4.54 for the second support level. However, for the 1st resistance point, the stock is sitting at 4.91, and for the 2nd resistance point, it is at 5.02.

Hanesbrands Inc [HBI] reported earnings per share of $0.03 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $0.09/share, meaning a difference of -$0.06 and a surprise factor of -66.70%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were $0.1 per share as compared to estimates of $0.11 per share, a difference of -$0.01 representing a surprise of -9.10%.

Ratios To Look Out For

For context, Hanesbrands Inc’s Current Ratio is 1.64. Also, the Quick Ratio is 0.65, while the Cash Ratio stands at 0.05. Considering the valuation of this stock, the price to sales ratio is 0.30, the price to book ratio is 4.02.

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