Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Friday, October 27th. The firm presently has a $35.00 price objective on the textile maker’s stock. Zacks Investment Research‘s price target suggests a potential upside of 15.74% from the company’s current price.
According to Zacks, “Gildan Activewear Inc. is a manufacturer and marketer of premium quality branded basic activewear for sale principally into the wholesale imprinted activewear segment of the North American apparel market. The company sells premium quality 100% cotton T-shirts and premium quality sweatshirts, in a variety of weights, sizes, colors and styles, as blanks, which are ultimately decorated with designs and logos for sale to consumers. “
Several other equities analysts have also issued reports on GIL. TD Securities lowered Gildan Activewear from a “buy” rating to a “hold” rating and boosted their target price for the stock from $32.00 to $33.00 in a research report on Friday, August 4th. BMO Capital Markets reiterated a “buy” rating and issued a $34.00 price objective (up from $32.00) on shares of Gildan Activewear in a research report on Friday, August 4th. National Bank Financial lowered Gildan Activewear from an “outperform” rating to a “sector perform” rating in a research report on Friday, August 4th. Canaccord Genuity lowered Gildan Activewear from a “buy” rating to a “hold” rating and set a $32.00 price objective for the company. in a research report on Wednesday, July 12th. Finally, Royal Bank Of Canada lowered Gildan Activewear from an “outperform” rating to a “sector perform” rating and set a $31.00 price objective for the company. in a research report on Tuesday, July 11th. Nine investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $32.20.
Gildan Activewear (NYSE GIL) traded up $0.27 during trading on Friday, hitting $30.24. The stock had a trading volume of 265,900 shares, compared to its average volume of 551,023. The firm has a market cap of $6,635.11, a price-to-earnings ratio of 17.48, a P/E/G ratio of 1.31 and a beta of 0.74. Gildan Activewear has a 52 week low of $23.55 and a 52 week high of $32.15. The company has a debt-to-equity ratio of 0.34, a current ratio of 5.13 and a quick ratio of 1.72.
Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its earnings results on Thursday, November 2nd. The textile maker reported $0.53 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.02. The company had revenue of $716.40 million during the quarter, compared to analyst estimates of $748.86 million. Gildan Activewear had a return on equity of 18.80% and a net margin of 14.21%. The company’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.50 EPS. equities research analysts expect that Gildan Activewear will post 1.71 EPS for the current fiscal year.
Gildan Activewear announced that its board has approved a stock buyback plan on Thursday, November 2nd that permits the company to repurchase 4,600,000 outstanding shares. This repurchase authorization permits the textile maker to buy shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.
COPYRIGHT VIOLATION WARNING: This article was posted by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are reading this article on another domain, it was stolen and republished in violation of U.S. & international copyright and trademark laws. The original version of this article can be accessed at https://www.dispatchtribunal.com/2017/11/12/gildan-activewear-inc-gil-rating-increased-to-buy-at-zacks-investment-research.html.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Commonwealth Bank of Australia lifted its stake in Gildan Activewear by 9.7% in the 2nd quarter. Commonwealth Bank of Australia now owns 3,414 shares of the textile maker’s stock valued at $103,000 after acquiring an additional 303 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its stake in Gildan Activewear by 133.7% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 3,475 shares of the textile maker’s stock valued at $106,000 after acquiring an additional 1,988 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in Gildan Activewear by 43.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,968 shares of the textile maker’s stock valued at $107,000 after acquiring an additional 1,198 shares in the last quarter. Global X Management Co. LLC lifted its stake in Gildan Activewear by 33.1% in the 2nd quarter. Global X Management Co. LLC now owns 3,591 shares of the textile maker’s stock valued at $110,000 after acquiring an additional 893 shares in the last quarter. Finally, Chevy Chase Trust Holdings Inc. bought a new stake in Gildan Activewear in the 2nd quarter valued at approximately $209,000. Hedge funds and other institutional investors own 72.62% of the company’s stock.
Gildan Activewear Company Profile
Gildan Activewear Inc is a manufacturer and marketer of branded basic family apparel, including T-shirts, fleece, sport shirts, underwear, socks, hosiery and shapewear. The Company operates through two segments: Printwear and Branded Apparel. The Printwear segment designs, manufactures, sources, markets, and distributes undecorated activewear products.
Get a free copy of the Zacks research report on Gildan Activewear (GIL)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Gildan Activewear Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gildan Activewear Inc. and related companies with MarketBeat.com's FREE daily email newsletter.