Why Hanesbrands Inc (NYSE: HBI) At $4.94 Is Worth Your Money?

Hanesbrands Inc (NYSE:HBI) does about 9.37M shares in volume on a normal day but saw 4400615 shares change hands in Monday’s trading. The company now has a market cap of 1.74B USD. Its current market price is $4.94, marking a decrease of -0.40% compared to the previous close of $4.96. The 52 week high reached by this stock is $5.86 whilst the lowest price level in 52 weeks is $3.54.

Hanesbrands Inc (HBI) has a 20-day trading average at $4.64 and the current price is -15.70% off the 52-week high compared with 39.55% distance from its 52-week low. The 50-day simple moving average of the closing price is $5.05 and its 200-day simple moving average is $4.59. If we look at the stock’s price movements over the week, volatility stands at 4.27%, which increases to 4.62% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 55.95 to suggest the stock is neutral.

The consensus objective for the share price is $4.21, suggesting that the stock has a potential downside of -17.34% over the period.

The company shares received a number of brokerage firm price updates over the past month, with the latest being on November 10, 2022 when Credit Suisse downgraded the stock to “Neutral” and issued a price target of between $10 and $7. Wells Fargo also downgraded the stock to “Underweight” from Overweight on October 31, 2022 at a price target of $13-$5.

Hanesbrands Inc (HBI) stock is up 10.27% over the week and 1.86% over the past month. Its price is 10.76% year-to-date and 19.90% over the past year.

To reach the target analysts have set, the stock logically needs to shrink -17.34 percent from here.

The company has a return on investment of -0.57% and return on equity of -6.62%. The forward price to earnings ratio is 7.71. The beta has a value of 1.62. Price to book ratio is 5.14 and price to sales ratio is 0.32.