Take off with Hanesbrands Inc. (HBI): Get ready for trading

Hanesbrands Inc. (NYSE: HBI) stock fell -2.39% on Wednesday to $4.09 against a previous-day closing price of $4.19. With 5.3 million shares changed hands, the volume of the stock remained lighter than its average volume of 10.94 million shares. During the session, the Apparel Manufacturing company that operates in wider Consumer Cyclical sector, reached to the highest price of $4.2550 whereas the lowest price it dropped to was $4.0100. The 52-week range on HBI shows that it touched its highest point at $12.12 and its lowest point at $3.85 during that stretch. It currently has a 1-year price target of $4.64. Beta for the stock currently stands at 1.60.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of HBI was down-trending over the past week, with a drop of -1.21%, but this was down by -16.02% over a month. Three-month performance dropped to -25.23% while six-month performance fell -38.12%. The stock lost -64.83% in the past year, while it has lost -35.69% so far this year. A look at the trailing 12-month EPS for HBI yields -0.80 with Next year EPS estimates of 0.74. For the next quarter, that number is -0.02. This implies an EPS growth rate of -125.60% for this year and 136.74% for next year. EPS is expected to grow by 0.80% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of -30.80%.

Float and Shares Shorts:

At present, 350.44 million HBI shares are outstanding with a float of 345.65 million shares on hand for trading. On Apr 27, 2023, short shares totaled 56.59 million, which was 16.19% higher than short shares on Mar 30, 2023. In addition to XBI as the firm’s SPDR Series Trust SPDR S&P Bio, HBI serves as its Hanesbrands Inc.

Institutional Ownership:

Other institutions hold 45.77% of HBI, in contrast to 40.48% held by mutual funds. Shares owned by individuals account for 3.20%. As the largest shareholder in HBI with 12.58% of the stake, BlackRock Fund Advisors holds 43,934,054 shares worth 43,934,054. A second-largest stockholder of HBI, The Vanguard Group, Inc., holds 38,594,736 shares, controlling over 11.05% of the firm’s shares. Cooke & Bieler LP is the third largest shareholder in HBI, holding 24,045,638 shares or 6.88% stake. With a 7.26% stake in HBI, the iShares Core S&P Small Cap ETF is the largest stakeholder. A total of 25,376,508 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 3.16% of HBI stock, is the second-largest Mutual Fund holder. It holds 11,027,903 shares valued at 57.79 million. Undiscovered Managers Behavioral holds 3.09% of the stake in HBI, owning 10,807,779 shares worth 56.63 million.

An Overview of Recent Financials:

Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 31, 2023, HBI reported revenue of $1.51B and operating income of $147.25M. The EBITDA in the recently reported quarter was $170.32M and diluted EPS was $0.26.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for HBI since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With HBI analysts setting a high price target of $6.00 and a low target of $1.00, the average target price over the next 12 months is $4.64. Based on these targets, HBI could surge 46.7% to reach the target high and fall by -75.55% to reach the target low. Reaching the average price target will result in a growth of 13.45% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.

Summary of Insider Activity:

Insiders traded HBI stock several times over the past three months with 1 Buys and 1 Sells. In these transactions, 25,015 shares were bought while 3,332 shares were sold. The number of buy transactions has increased to 34 while that of sell transactions has risen to 26 over the past year. The total number of shares bought during that period was 1,361,128 while 194,716 shares were sold.

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