Hanesbrands Inc [HBI] stock Downgrade by Credit Suisse analyst, price target now $7

Hanesbrands Inc [NYSE: HBI] closed the trading session at $5.74. The company report on March 14, 2024 at 8:30 AM that Hanes Adds SuperSoft Styles to Originals Collection, Its Softest Innovation in More Than a Century.

Hanes heads back to 1901 for the new ‘The Great Softening’ campaign featuring cinematic advertising spots to begin airing in March.

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Hanes, No. 1 brand of basic apparel1 with products in 9 out of 10 homes in the U.S., is expanding on the success of its largest cross-category launch ever by introducing Hanes® Originals with SuperSoft fabrics. The line builds upon Hanes Originals, a bold and youthful collection of body basics that delivers modern styles without sacrificing comfort. The new styles go a step further with updated pieces, injecting luxurious colors and, most importantly, the absolute softest fabrics, made from luxe viscose from bamboo.

The stocks have a year to date performance of 28.70 percent and weekly performance of 12.11 percent. The stock has been moved at 59.44 percent over the last six months. The stock has performed 6.30 percent around the most recent 30 days and changed 29.28 percent over the most recent 3-months.

If compared to the average trading volume of 9.01M shares, HBI reached to a volume of 6475709 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 $3.79 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 3.25. 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 0.23, with the Price to Sales ratio for HBI stock in the period of the last 12 months amounting to 0.36. The Price to Book ratio for the last quarter was 4.79, with the Price to Cash per share for the same quarter was set at 0.58. Price to Free Cash Flow for HBI in the course of the last twelve months was 3.90 with Quick ratio for the last quarter at 0.65.

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 12.11. With this latest performance, HBI shares gained by 6.30% in over the last four-week period, additionally plugging by 59.44% over the last 6 months – not to mention a rise of 14.12% 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 62.44, with the RSI for the last a single of trading hit 63.93, and the three-weeks RSI is set at 61.56 for Hanesbrands Inc [HBI]. The present Moving Average for the last 50 days of trading for this stock 4.96, while it was recorded at 5.57 for the last single week of trading, and 4.57 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 0.65 and a Current Ratio set at 1.64.

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

With the latest financial reports released by the company, Hanesbrands Inc posted -0.06/share EPS, while the average EPS was predicted by analysts to be reported at -0.07/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 14.30%. 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 -12.40%.

Hanesbrands Inc [HBI]: Institutional Ownership

The top three institutional holders of HBI stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in HBI stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in HBI stock with ownership which is approximately 5.8386%.