Hanesbrands Inc. (NYSE:HBI) saw an upside of 3.25% to close Monday at $8.26 after adding $0.26 on the day. The 5-day average trading volume is 7,773,460 shares of the company’s common stock. It has gained $8.28 in the past week and touched a new high 3 times within the past 5 days. An average of 8,712,690 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 9,996,646.
HBI’s 1-month performance is 40.24% or $2.16 on its low of $5.99 reached on 12/28/22. The company’s shares have touched a 52-week low of $5.65 and high of $16.75, with the stock’s rally to the 52-week high happening on 01/13/23. YTD, HBI has achieved 29.87% or $1.90 and has reached a new high 7 times. However, the current price is down -50.69% from the 52-week high price.
HBI stock has a beta of 1.49. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 0.44 while the price-to-book (PB) in the most recent quarter is 4.28.
Hanesbrands Inc.’s quick ratio for the period ended June 29 was 0.70, with the current ratio over the same period at 1.70. As well, the company’s long term debt to equity for the quarter ending June 29 was 5.42, while the total debt to equity was 5.78. In terms of profitability, the gross margin trailing 12 months is 37.00%. The firm’s gross profit as reported stood at $2.65 billion against revenue of $6.8 billion.
For the quarterly period ending June 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Net income shrunk -89.49% to $80.1 million, while revenue of $92.1 million was -14.98% off the previous quarter. Analysts expected HBI to announce $0.32 per share in earnings in its latest quarter, but it posted $0.28, representing a -12.50% surprise. EBITDA for the quarter stood at more than $170.24 million. HBI stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 6.42 billion, with total debt at $4.13 billion. Shareholders hold equity totaling $348.95 million.
Let’s look briefly at Hanesbrands Inc. (HBI) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 23 January was 77.13% to suggest the stock is trending Overbought, with historical volatility in this time period at 29.61%.
The stock’s 5-day moving average is $8.11, reflecting a +1.72% or $0.14 change from its current price. HBI is currently trading +41.44% above its 20-day SMA, -6.67% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +16.67% and SMA200 by-41.79%.
Stochastic %K and %D was 83.99% and 84.07% and the average true range (ATR) pointed at 0.28. The RSI (14) points at 73.23%, while the 14-day stochastic is at 91.75% with the period’s ATR at 0.29. The stock’s 9-day MACD Oscillator is pointing at 0.03 and 0.32 on the 14-day charts.
In the most recent analyst report for Hanesbrands Inc. (NYSE: HBI), Credit Suisse downgraded it to a Neutral rating. They previously had an Outperform rating on the stock. Analysts offering their rating for HBI stock have a consensus rating for the stock as Hold. Currently, 2 brokerage advisors rate HBI as a “sell,”, while 8 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 0 rates the stock as overweight while 1 have offered a “buy” rating.
What is HBI’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $3.00 and a high of $8.00, with their median price target at $7.00. Looking at these predictions, the average price target given by analysts is for Hanesbrands Inc. (HBI) stock is $6.78.