Stock Rating Downgrade
The Value Trend Rating for Hanesbrands Inc (NYSE: HBI) weakened of late from B to C reflecting eroding fundamentals and low Appreciation Potential. Details supporting this lower rating are included in our next report.
Recent Price Action
Hanesbrands Inc (NYSE: HBI) stock declined modestly by -2.0% on 7/29/24. The stock closed at $6.02. Moreover, trading volume in this decline was unusually high at 158% of normal. The stock has been exceptionally strong relative to the market over the last nine months and has risen 11.5% during the last week.
Current PriceTarget Research Rating
With future capital returns forecasted to be above the cost of capital, HBI is expected to continue to be a major Value Builder.
Hanesbrands has a current Value Trend Rating of C (High Neutral). The Value Trend Rating reflects contradictory signals from PTR’s two proprietary measures of a stock’s attractiveness. Hanesbrands has a slightly negative Appreciation Score of 40 but a good Power Rating of 83, producing the High Neutral Value Trend Rating.
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