why Hanesbrands Inc. [HBI] is a Good Choice for Investors After New Price Target of $21.62


Hanesbrands Inc. [NYSE: HBI] closed the trading session at $17.15 on 01/13/22. The day’s price range saw the stock hit a low of $16.705, while the highest price level was $17.31. The company report on January 13, 2022 that HanesBrands Announces $2 million Investment in Historically Black Colleges and Universities as Part of Commitment to Creating Opportunity for All.

Partnerships with North Carolina A&T, Pensole Lewis College of Business & Design and Winston-Salem State University Provide Students with Financial Support and Industry Experience.

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HanesBrands, a global leader in iconic apparel brands, today announced a $2 million investment in three historically black colleges and universities (HBCUs). The four-year partnership involves North Carolina A&T, Pensole Lewis College of Business & Design and Winston-Salem State University.

The stocks have a year to date performance of 2.57 percent and weekly performance of 0.70 percent. The stock has been moved at -1.55 percent over the last six months. The stock has performed 2.69 percent around the most recent 30 days and changed -0.29 percent over the most recent 3-months.

If compared to the average trading volume of 4.90M shares, HBI reached to a volume of 2895484 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Hanesbrands Inc. [HBI]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for HBI shares is $21.62 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on HBI stock is a recommendation set at 2.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Wedbush have made an estimate for Hanesbrands Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on October 05, 2021. While these analysts kept the previous recommendation, Wells Fargo raised their target price from $20 to $23. The new note on the price target was released on July 13, 2021, representing the official price target for Hanesbrands Inc. stock. Previously, the target price had yet another raise to $20, while Wells Fargo analysts kept a Equal Weight rating on HBI stock. On May 12, 2021, analysts increased their price target for HBI shares from 18 to 25.

The Average True Range (ATR) for Hanesbrands Inc. is set at 0.51, with the Price to Sales ratio for HBI stock in the period of the last 12 months amounting to 0.88. The Price to Book ratio for the last quarter was 9.48. Price to Free Cash Flow for HBI in the course of the last twelve months was 12.73 with Quick ratio for the last quarter at 0.90.

HBI stock trade performance evaluation

Hanesbrands Inc. [HBI] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.70. With this latest performance, HBI shares gained by 2.69% in over the last four-week period, additionally sinking by -1.55% over the last 6 months – not to mention a rise of 8.54% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for HBI stock in for the last two-week period is set at 55.11, with the RSI for the last a single of trading hit 58.67, and the three-weeks RSI is set at 52.77 for Hanesbrands Inc. [HBI]. The present Moving Average for the last 50 days of trading for this stock 17.01, while it was recorded at 16.75 for the last single week of trading, and 18.44 for the last 200 days.

Hanesbrands Inc. [HBI]: An insightful look at the core fundamentals

Hanesbrands Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.90 and a Current Ratio set at 1.60.

Earnings per share (EPS) analysis for Hanesbrands Inc. [HBI] stock

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for HBI. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Hanesbrands Inc. go to 16.13%.

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Hanesbrands Inc. [HBI]: Insider Ownership positions

There are presently around $5,184 million, or 90.60% of HBI stock, in the hands of institutional investors. The top three institutional holders of HBI stocks are: VANGUARD GROUP INC with ownership of 38,452,515, which is approximately 0.52% of the company’s market cap and around 0.30% of the total institutional ownership; BLACKROCK INC., holding 26,568,769 shares of the stock with an approximate value of $455.65 million in HBI stocks shares; and DIAMOND HILL CAPITAL MANAGEMENT INC, currently with $381.39 million in HBI stock with ownership of nearly 5.004% of the company’s market capitalization.

Positions in Hanesbrands Inc. stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 272 institutional holders increased their position in Hanesbrands Inc. [NYSE:HBI] by around 27,953,207 shares. Additionally, 236 investors decreased positions by around 25,502,332 shares, while 104 investors held positions by with 248,822,765 shares. The mentioned changes placed institutional holdings at 302,278,304 shares, according to the latest SEC report filing. HBI stock had 61 new institutional investments in for a total of 5,138,892 shares, while 46 institutional investors sold positions of 4,396,568 shares during the same period.