Is Hanesbrands (HBI) Stock Outpacing Its Consumer Discretionary Peers This Year?

Zacks Equity Research
·2-min read

Investors interested in Consumer Discretionary stocks should always be looking to find the best-performing companies in the group. Is Hanesbrands (HBI) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Consumer Discretionary peers, we might be able to answer that question.

Hanesbrands is a member of our Consumer Discretionary group, which includes 238 different companies and currently sits at #10 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.

The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader 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 58.29% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

Based on the most recent data, HBI has returned 18.65% so far this year. Meanwhile, stocks in the Consumer Discretionary group have lost about 1.74% 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 21 individual stocks and currently sits at #30 in the Zacks Industry Rank. Stocks in this group have lost about 6.64% so far this year, so HBI is performing better this group in terms of year-to-date returns.

Investors in the Consumer Discretionary sector will want to keep a close eye on HBI as it attempts to continue its solid performance.


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