Hanesbrands Inc. (NYSE:HBI) is -0.63 points lower today and the only thing that matters is where they go from here. You simply have to look deeper than the share price and explore the fundamentals and future growth potential. The stock value has plummeted by nearly -4.36% to $13.94 from its previous close of $14.57. Does this decline mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 4514163 contracts so far this session. HBI shares had a relatively better volume day versus average trading capacity of 4.65 million shares, but with a 0.36 billion float and a -3.06% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for HBI stock indicates that the average analyst price target is $18 per share. This means the stock has a potential increase of 29.12% from where the HBI share price has been trading recently which is between $14.35 and $15.26. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $12.
The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Hanesbrand- A Good Fit” and dated August 13, 2019.
During the recent trading session for Hanesbrands Inc. (NYSE:HBI), the company witnessed their stock drop by $-0.85 over a week and tumble down $-2.59 from the price 20 days ago. When compared to their established 52-week high of $19.38, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 02/21/19. The recent low of $11.57 stood for a -28.1% since 12/26/18, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 1.11 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Hanesbrands Inc., the two-week RSI stands at 28.21. This figure suggests that HBI stock, for now, is overbought, meaning that the shares are not stable in terms of price movement. The stochastic readings, on the other hand, based on the current HBI readings is similarly very revealing as it has a stochastic reading of 8.65% at this stage. This figure means that HBI share price today is being overbought.
Technical chart claims that Hanesbrands Inc. (HBI) would settle between $15.1/share to $15.64/share level. However, if the stock price goes below the $14.19 mark, then the market for Hanesbrands Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $13.82 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.44. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Deutsche Bank lowered their recommendation on shares of HBI from Buy to Hold in their opinion released on January 11. Standpoint Research, analysts launched coverage of Hanesbrands Inc. (NYSE:HBI) stock with a Buy recommendation, according to their flash note issued to investors on October 23. Analysts at Stifel released an upgrade from Hold to Buy for the stock, in a research note that dated back to April 23.
HBI equity has an average rating of 2.58, with the figure leaning towards a bullish end. 12 analysts who tracked the company were contacted by Reuters. Amongst them, 8 rated the stock as a hold while the remaining 4 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 4 analysts rated Hanesbrands Inc. (NYSE:HBI) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, HBI stock price is currently trading at 8.21X forward 12-month Consensus EPS estimates, and its P/S ratio is 0.83 while for the average stock in the same group, the multiple is 3.69. Hanesbrands Inc. current P/E ratio of 10.55 means it is trading at a discount against its industry’s 115.62. In the past 5 years, this ratio for the stock has been fluctuating between 8.08 and 27.89.
Hanesbrands Inc. (HBI)’s current-quarter revenues are projected to climb by nearly 0.56% to hit $1.86 billion, based on current Zacks Consensus Estimate. The firm’s full-year revenues are expected to expand by over 1.93% from $6.8 billion to a noteworthy $6.93 billion. At the other end of the current quarter income statement, Hanesbrands Inc. is expected to see its adjusted earnings surge by roughly 0% to hit $0.55 per share. For the fiscal year, HBI’s earnings are projected to climb by roughly 2.92% to hit $1.76 per share.