Hanesbrands Inc. HBI was a big mover last session, as the company saw its shares rise more than 6% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This reverses the recent trend for the company—as the stock is now down 5.7% in the past one-month time frame.
The move came after the company reported the completion of the acquisition of the Australian apparel seller Bras N Things.
The company has seen four negative estimate revisions in the past few weeks, while its Zacks Consensus Estimate for the current quarter has also moved lower over the past few weeks, suggesting there may be trouble down the road. So make sure to keep an eye on this stock going forward, to see if this recent move higher can last.
Hanesbrands currently has a Zacks Rank #5 (Strong Sell) while its Earnings ESP is 0.00%.
A better-ranked stock in the Textile – Apparel industry is Columbia Sportswear Company COLM, which currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
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