HanesBrands (NYSE: HBI) stock price has come under pressure, reaching 52-week lows in the past week, which has sparked my interest to evaluate the company. HanesBrands reported revenue and earnings in-line with analyst consensus estimates for the third quarter; however, the company provided slightly lower than expected guidance for the fourth quarter which was one of the perceived reasons for the sell-off. In this article, I dive further into the financial statements to evaluate the company’s financial health and growth, address investor concerns, and provide my perspective on the company moving forward. In my opinion, and from my findings described in the article below, HanesBrands appears to be undervalued and the stock price is fairly attractive at these levels. I have started adding to a new position in the company at $19 a share, seeing the recent sell-off as a reasonable buying opportunity.
Snapshot of HanesBrands Stock Price Year-to-Date
With the release of third quarter financial results and fourth quarter guidance, the company’s stock price has further declined by 15%. In the past week, the stock has traded around 52-week lows of $19 per share.
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