Has Hanesbrands (HBI) Outpaced Other Consumer Discretionary Stocks This Year?
Investors focused on the Consumer Discretionary space have likely heard of Hanesbrands (HBI), but is the stock performing well in comparison to the rest of its sector peers? Let's take a closer look at the stock's year-to-date performance to find out.
Hanesbrands is a member of the Consumer Discretionary sector. This group includes 237 individual stocks and currently holds a Zacks Sector Rank of #9. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. HBI is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for HBI's full-year earnings has moved 141.44% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, HBI has returned 4.44% so far this year. Meanwhile, stocks in the Consumer Discretionary group have lost about 3.23% on average. This means that Hanesbrands is outperforming the sector as a whole this year.
Looking more specifically, HBI belongs to the Textile - Apparel industry, a group that includes 20 individual stocks and currently sits at #122 in the Zacks Industry Rank. On average, stocks in this group have lost 13.86% this year, meaning that HBI is performing better in terms of year-to-date returns.
Going forward, investors interested in Consumer Discretionary stocks should continue to pay close attention to HBI as it looks to continue its solid performance.
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