Why Hanesbrands (HBI) Could Be Positioned for a Surge
Hanesbrands Inc. HBI is a leading marketer of everyday basic innerwear and activewear apparel that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on HBI’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Hanesbrands could be a solid choice for investors.
Current Quarter Estimates for HBI
In the past 30 days, five estimates have gone higher for Hanesbrands while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates moving from a loss of 19 cents a share 30 days ago, to earnings of a cent today, a significant move.
Current Year Estimates for HBI
Meanwhile, Hanesbrands’ current year figures are also looking quite promising, with five estimates moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, increasing from 60 cents per share 30 days ago to 93 cents per share today, an increase of 55.0%.
Hanesbrands Inc. Price and Consensus
Hanesbrands Inc. price-consensus-chart | Hanesbrands Inc. Quote
Bottom Line
The stock has also started to move higher lately, adding 54.4% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So, investors may want to consider this Zacks Rank #1 (Strong Buy) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank stocks here.
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