Hanesbrands Inc. [HBI] is -19.81% lower this YTD. Is it still time to buy?

Hanesbrands Inc. [NYSE: HBI] loss -4.67% on the last trading session, reaching $5.10 price per share at the time. The company report on March 9, 2023 that HanesBrands Completes Refinancing of 2024 Maturities; Closes $900 Million Term Loan B Financing.

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HanesBrands (NYSE: HBI), a global leader in iconic apparel brands, today announced the completion of the refinancing of the last remaining series of its 2024 Notes. The Company successfully closed on an upsized new Senior Secured Term Loan B Facility in an aggregate principal amount of $900 million. The net proceeds from the Term Loan B Facility, together with the proceeds of the $600 million bond offering completed on February 14, 2023, were used to redeem all of the Company’s outstanding 4.625% Senior Notes due 2024 and 3.5% Senior Notes due 2024 and pay related fees and expenses.

“We are pleased with the successful refinancing of our 2024 maturities, including the pricing, terms and mix of pre-payable debt,” said Steve Bratspies, CEO. “With the refinancing behind us, we believe we now have the financial flexibility to continue to invest in our Full Potential growth strategy while positioning us to focus our free cash flow on reducing debt. We believe the combination of executing our Full Potential growth strategy and significant debt reduction will drive higher sales, profits, operating cash flow and shareholder returns over the next several years.”.

Hanesbrands Inc. represents 349.97 million in outstanding shares, while the company has a total market value of $1.87 billion with the latest information. HBI stock price has been found in the range of $5.07 to $5.35.

If compared to the average trading volume of 12.30M shares, HBI reached a trading volume of 13885501 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 $5.89 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 3.20. 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.

Credit Suisse have made an estimate for Hanesbrands Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on November 10, 2022. While these analysts kept the previous recommendation, Wells Fargo raised their target price from $13 to $5. The new note on the price target was released on October 31, 2022, representing the official price target for Hanesbrands Inc. stock. On June 08, 2022, analysts decreased their price target for HBI shares from 18 to 13.

The Average True Range (ATR) for Hanesbrands Inc. is set at 0.29, with the Price to Sales ratio for HBI stock in the period of the last 12 months amounting to 0.30. The Price to Book ratio for the last quarter was 4.47, with the Price to Cash per share for the same quarter was set at 0.65.

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 -12.37. With this latest performance, HBI shares dropped by -13.41% in over the last four-week period, additionally sinking by -41.78% over the last 6 months – not to mention a drop of -66.49% 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 30.96, with the RSI for the last a single of trading hit 25.67, and the three-weeks RSI is set at 34.56 for Hanesbrands Inc. [HBI]. The present Moving Average for the last 50 days of trading for this stock 6.65, while it was recorded at 5.41 for the last single week of trading, and 8.30 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 +9.17 and a Gross Margin at +35.46. Hanesbrands Inc.’s Net Margin is presently recorded at -2.10.

Return on Equity for this stock declined to -23.83, with Return on Assets sitting at -1.93.

Hanesbrands Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.60 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 -13.60%.

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

There are presently around $1,506 million, or 87.00% of HBI stock, in the hands of institutional investors. The top three institutional holders of HBI stocks are: BLACKROCK INC. with ownership of 39,853,310, which is approximately 5.68% of the company’s market cap and around 0.40% of the total institutional ownership; VANGUARD GROUP INC, holding 35,011,639 shares of the stock with an approximate value of $178.56 million in HBI stocks shares; and COOKE & BIELER LP, currently with $118.59 million in HBI stock with ownership of nearly 12.4% of the company’s market capitalization.

Positions in Hanesbrands Inc. stocks held by institutional investors increased at the end of Thursday and at the time of the Thursday reporting period, where 313 institutional holders increased their position in Hanesbrands Inc. [NYSE:HBI] by around 41,306,815 shares. Additionally, 247 investors decreased positions by around 36,041,786 shares, while 76 investors held positions by with 217,972,949 shares. The mentioned changes placed institutional holdings at 295,321,550 shares, according to the latest SEC report filing. HBI stock had 94 new institutional investments in for a total of 8,806,840 shares, while 83 institutional investors sold positions of 17,514,287 shares during the same period.


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