One company that should be on your radar is Hanesbrands Inc. (HBI). The stock of this textile-apparel retailer has seen its Zacks Rank surge over the past four weeks, moving from Hold territory to its current position as a Strong Buy.
A key reason for this move has been the positive trend in the earnings estimate revisions picture. For HBI’s full year estimate, we have seen 8 estimates go higher in the past 30 days, compared to no downward revision. This trend has helped the consensus estimate to trend higher, going from $4.47 a share a month ago to its current level at $4.71.
This positive shift in estimates has made some investors take notice and buy the stock. In fact, HBI has seen some pretty solid trading lately, as the company has moved higher by 15.8% in the past month.
If Hanesbrands can keep up this great momentum on the earnings estimate front and continue to impress analysts, we could see more gains ahead for this company, suggesting that you might want to put TSLA on your watch list for the future.
Other top-ranked stocks worth considering in this space include Joe's Jeans Inc. (JOEZ), Michael Kors Holdings Limited (KORS) and Under Armour, Inc. (UA). While Joe’s Jeans and Michael Kors carry a Zacks Rank #1 (Strong Buy), Under Armour holds a Zacks Rank #2 (Buy).
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