Gildan Activewear (NYSE:GIL) (TSE:GIL) was upgraded by stock analysts at ValuEngine from a “sell” rating to a “hold” rating in a research note issued to investors on Monday.
GIL has been the subject of several other research reports. Royal Bank of Canada raised their price target on Gildan Activewear from $32.00 to $33.00 and gave the company a “sector perform” rating in a report on Friday, August 3rd. Desjardins cut Gildan Activewear from a “buy” rating to a “hold” rating in a report on Friday, August 3rd. They noted that the move was a valuation call. Zacks Investment Research upgraded Gildan Activewear from a “sell” rating to a “hold” rating in a report on Wednesday, June 20th. Bank of America upgraded Gildan Activewear from an “underperform” rating to a “buy” rating in a report on Thursday, August 2nd. Finally, TD Securities raised their price target on Gildan Activewear from $35.00 to $36.00 and gave the company a “buy” rating in a report on Friday, August 3rd. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $33.00.
Shares of NYSE:GIL traded up $0.47 during trading on Monday, hitting $30.51. 392,000 shares of the company’s stock were exchanged, compared to its average volume of 504,027. The company has a current ratio of 5.06, a quick ratio of 1.76 and a debt-to-equity ratio of 0.47. Gildan Activewear has a 52-week low of $25.33 and a 52-week high of $34.19. The stock has a market capitalization of $6.24 billion, a P/E ratio of 17.74, a P/E/G ratio of 1.36 and a beta of 0.81.
Gildan Activewear (NYSE:GIL) (TSE:GIL) last released its quarterly earnings results on Thursday, August 2nd. The textile maker reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.03. The business had revenue of $764.20 million during the quarter, compared to analysts’ expectations of $728.72 million. Gildan Activewear had a return on equity of 18.53% and a net margin of 12.51%. The firm’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.48 EPS. research analysts predict that Gildan Activewear will post 1.88 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Global X Management Co LLC boosted its holdings in shares of Gildan Activewear by 145.3% in the 2nd quarter. Global X Management Co LLC now owns 6,390 shares of the textile maker’s stock worth $180,000 after purchasing an additional 3,785 shares during the period. Lester Murray Antman dba SimplyRich purchased a new position in shares of Gildan Activewear in the 2nd quarter worth approximately $205,000. Allianz Asset Management GmbH purchased a new position in shares of Gildan Activewear in the 1st quarter worth approximately $208,000. Jane Street Group LLC purchased a new position in shares of Gildan Activewear in the 2nd quarter worth approximately $221,000. Finally, Cornerstone Wealth Management LLC purchased a new position in shares of Gildan Activewear in the 2nd quarter worth approximately $250,000. Institutional investors and hedge funds own 71.63% of the company’s stock.
Gildan Activewear Company Profile
Gildan Activewear Inc manufactures and sells a range of apparel products in the United States, Canada, Mexico, Europe, the Asia-Pacific, and Latin America. It operates in two segments, Printwear and Branded Apparel. The company manufactures and markets active wear products, including T-shirts, fleece tops and bottoms, and sport shirts under Gildan, Gildan Performance, Gildan Platinum, Gildan Hammer, Smart Basics, Comfort Colors, American Apparel, Anvil, Alstyle, Gold Toe, and Mossy Oak brands.
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