Wedbush slashes price target on Hanesbrands Inc. [HBI] – find out why.

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Hanesbrands Inc. [NYSE: HBI] gained 0.29% on the last trading session, reaching $14.01 price per share at the time. The company report on April 25, 2022 that HanesBrands Announces Progress Toward 2030 Global Sustainability Goals Impacting People, Planet and Product.

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HanesBrands Inc., a global leader in iconic apparel brands, is releasing its 2021 Sustainability Summary Report outlining progress and plans toward reaching aggressive sustainability goals by 2030.

“At HanesBrands, sustainability is integrated into everything we do — from our iconic brands to sourcing our materials to manufacturing our great products,” said Steve Bratspies, CEO of HanesBrands. “We’re proud of our leadership in this area, and we know there is more to do. Most importantly, I want to thank our 59,000 passionate associates for the progress we’ve made so far and for their continued commitment to creating a more comfortable world for every body.”.

Hanesbrands Inc. represents 351.05 million in outstanding shares, while the company has a total market value of $5.13 billion with the latest information. HBI stock price has been found in the range of $13.51 to $14.03.

If compared to the average trading volume of 5.03M shares, HBI reached a trading volume of 7881726 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $20.20 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 0.45, with the Price to Sales ratio for HBI stock in the period of the last 12 months amounting to 0.75. The Price to Book ratio for the last quarter was 7.01. Price to Free Cash Flow for HBI in the course of the last twelve months was 14.88 with Quick ratio for the last quarter at 0.80.

Trading performance analysis for HBI stock

Hanesbrands Inc. [HBI] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.27. With this latest performance, HBI shares dropped by -7.22% in over the last four-week period, additionally sinking by -16.81% over the last 6 months – not to mention a drop of -32.84% 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 39.32, with the RSI for the last a single of trading hit 37.49, and the three-weeks RSI is set at 40.75 for Hanesbrands Inc. [HBI]. The present Moving Average for the last 50 days of trading for this stock 14.98, while it was recorded at 14.31 for the last single week of trading, and 16.92 for the last 200 days.

Hanesbrands Inc. [HBI]: A deeper dive into fundamental analysis

Hanesbrands Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.80 and a Current Ratio set at 1.50.

Hanesbrands Inc. [HBI]: An earnings per share (EPS) analysis

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 14.28%.

An analysis of insider ownership at Hanesbrands Inc. [HBI]

There are presently around $4,273 million, or 91.20% of HBI stock, in the hands of institutional investors. The top three institutional holders of HBI stocks are: BLACKROCK INC. with ownership of 36,584,207, which is approximately 37.696% of the company’s market cap and around 0.80% of the total institutional ownership; VANGUARD GROUP INC, holding 34,184,652 shares of the stock with an approximate value of $477.56 million in HBI stocks shares; and DIAMOND HILL CAPITAL MANAGEMENT INC, currently with $306.09 million in HBI stock with ownership of nearly -1.474% of the company’s market capitalization.

303 institutional holders increased their position in Hanesbrands Inc. [NYSE:HBI] by around 38,705,907 shares. Additionally, 262 investors decreased positions by around 38,988,924 shares, while 89 investors held positions by with 228,207,597 shares. The mentioned changes placed institutional holdings at 305,902,428 shares, according to the latest SEC report filing. HBI stock had 85 new institutional investments in for a total of 4,525,657 shares, while 83 institutional investors sold positions of 7,801,862 shares during the same period.