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Is Hanesbrands (HBI) Outperforming Other Consumer Discretionary Stocks This Year?
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Investors focused on the Consumer Discretionary space have likely heard of Hanesbrands (HBI - Free Report) , 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 one of 237 companies in the Consumer Discretionary group. The Consumer Discretionary group currently sits at #13 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
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 three months, the Zacks Consensus Estimate for HBI's full-year earnings has moved 144.44% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that HBI has returned about 1.28% since the start of the calendar year. In comparison, Consumer Discretionary companies have returned an average of -4.01%. This means that Hanesbrands is performing better than its sector in terms of year-to-date returns.
To break things down more, HBI belongs to the Textile - Apparel industry, a group that includes 20 individual companies and currently sits at #219 in the Zacks Industry Rank. On average, stocks in this group have lost 15.60% 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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Is Hanesbrands (HBI) Outperforming Other Consumer Discretionary Stocks This Year?
Investors focused on the Consumer Discretionary space have likely heard of Hanesbrands (HBI - Free Report) , 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 one of 237 companies in the Consumer Discretionary group. The Consumer Discretionary group currently sits at #13 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
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 three months, the Zacks Consensus Estimate for HBI's full-year earnings has moved 144.44% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that HBI has returned about 1.28% since the start of the calendar year. In comparison, Consumer Discretionary companies have returned an average of -4.01%. This means that Hanesbrands is performing better than its sector in terms of year-to-date returns.
To break things down more, HBI belongs to the Textile - Apparel industry, a group that includes 20 individual companies and currently sits at #219 in the Zacks Industry Rank. On average, stocks in this group have lost 15.60% 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.