Hanesbrands Inc. [NYSE: HBI] loss -6.58% or -0.68 points to close at $9.65 with a heavy trading volume of 10275140 shares. The company report on August 11, 2022 that HanesBrands Announces Second-Quarter 2022 Results.
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Net sales from continuing operations of $1.51 billion decrease 14% versus prior year (down 11% in constant currency); increase 75% on a two-year stack basis, excluding personal protective equipment (PPE).
GAAP EPS from continuing operations of $0.26; adjusted EPS from continuing ops of $0.28.
It opened the trading session at $10.23, the shares rose to $10.30 and dropped to $9.64, the range by which the price of stock traded the whole day. The daily chart for HBI points out that the company has recorded -36.64% loss over the past six months. However, it is still -0.73% lower than its most recent low trading price.
If we look at the average trading volume of 5.89M shares, HBI reached to a volume of 10275140 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 $11.42 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 2.70. 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.
Evercore ISI have made an estimate for Hanesbrands Inc. shares, keeping their opinion on the stock as In-line, with their previous recommendation back on July 13, 2022. While these analysts kept the previous recommendation, Barclays dropped their target price from $18 to $13. The new note on the price target was released on June 08, 2022, representing the official price target for Hanesbrands Inc. stock. Previously, the target price had yet another drop from $26 to $13, while Stifel kept a Hold rating on HBI stock.
The Average True Range (ATR) for Hanesbrands Inc. is set at 0.44, with the Price to Sales ratio for HBI stock in the period of the last 12 months amounting to 0.52. The Price to Book ratio for the last quarter was 4.73, with the Price to Cash per share for the same quarter was set at 0.69.
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 -8.01. With this latest performance, HBI shares dropped by -14.98% in over the last four-week period, additionally sinking by -36.64% over the last 6 months – not to mention a drop of -49.08% 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 35.30, with the RSI for the last a single of trading hit 29.85, and the three-weeks RSI is set at 38.30 for Hanesbrands Inc. [HBI]. The present Moving Average for the last 50 days of trading for this stock 10.72, while it was recorded at 10.52 for the last single week of trading, and 14.09 for the last 200 days.
Hanesbrands Inc. [HBI]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and Hanesbrands Inc. [HBI] shares currently have an operating margin of +13.67 and a Gross Margin at +39.01. Hanesbrands Inc.’s Net Margin is presently recorded at +7.66.
Return on Equity for this stock inclined to 68.71, with Return on Assets sitting at 7.05.
Hanesbrands Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.70 and a Current Ratio set at 1.70.
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 -6.00%.
An analysis of insider ownership at Hanesbrands Inc. [HBI]
There are presently around $3,008 million, or 92.90% of HBI stock, in the hands of institutional investors. The top three institutional holders of HBI stocks are: BLACKROCK INC. with ownership of 38,223,804, which is approximately 1.708% of the company’s market cap and around 0.30% of the total institutional ownership; VANGUARD GROUP INC, holding 33,856,145 shares of the stock with an approximate value of $326.71 million in HBI stocks shares; and DIAMOND HILL CAPITAL MANAGEMENT INC, currently with $226.07 million in HBI stock with ownership of nearly -2.467% of the company’s market capitalization.
Positions in Hanesbrands Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 299 institutional holders increased their position in Hanesbrands Inc. [NYSE:HBI] by around 32,340,836 shares. Additionally, 238 investors decreased positions by around 34,010,229 shares, while 93 investors held positions by with 245,312,125 shares. The mentioned changes placed institutional holdings at 311,663,190 shares, according to the latest SEC report filing. HBI stock had 84 new institutional investments in for a total of 9,037,969 shares, while 67 institutional investors sold positions of 10,789,424 shares during the same period.