Gildan Activewear (GIL) Upgraded by Desjardins to Buy

Desjardins upgraded shares of Gildan Activewear (NYSE:GIL) (TSE:GIL) from a hold rating to a buy rating in a research report released on Friday, The Fly reports.

GIL has been the subject of a number of other reports. Royal Bank of Canada boosted their price objective on shares of Gildan Activewear from $32.00 to $33.00 and gave the stock a sector perform rating in a report on Friday, August 3rd. Zacks Investment Research lowered shares of Gildan Activewear from a hold rating to a sell rating in a report on Wednesday, October 10th. ValuEngine upgraded shares of Gildan Activewear from a sell rating to a hold rating in a report on Friday, August 3rd. TD Securities boosted their price objective on shares of Gildan Activewear from $35.00 to $36.00 and gave the stock a buy rating in a report on Friday, August 3rd. Finally, Bank of America upgraded shares of Gildan Activewear from an underperform rating to a buy rating in a report on Thursday, August 2nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus target price of $33.78.

NYSE GIL traded up $0.63 during mid-day trading on Friday, reaching $31.13. The stock had a trading volume of 824,678 shares, compared to its average volume of 502,815. Gildan Activewear has a 1 year low of $25.33 and a 1 year high of $34.19. The firm has a market cap of $6.45 billion, a P/E ratio of 17.89, a PEG ratio of 1.43 and a beta of 0.72. The company has a quick ratio of 1.76, a current ratio of 5.06 and a debt-to-equity ratio of 0.47.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last announced its quarterly earnings data on Thursday, November 1st. The textile maker reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.01. Gildan Activewear had a net margin of 12.28% and a return on equity of 18.70%. The company had revenue of $754.40 million during the quarter, compared to analyst estimates of $759.15 million. During the same period in the previous year, the business earned $0.53 EPS. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. As a group, equities analysts expect that Gildan Activewear will post 1.86 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Thursday, November 15th will be given a $0.085 dividend. This represents a $0.34 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date of this dividend is Wednesday, November 14th. Gildan Activewear’s dividend payout ratio (DPR) is presently 26.16%.

A number of large investors have recently bought and sold shares of the business. Lawson Kroeker Investment Management Inc. NE grew its position in Gildan Activewear by 0.9% in the 3rd quarter. Lawson Kroeker Investment Management Inc. NE now owns 231,060 shares of the textile maker’s stock worth $7,031,000 after purchasing an additional 2,165 shares during the period. Dimensional Fund Advisors LP grew its position in Gildan Activewear by 1.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 162,336 shares of the textile maker’s stock worth $4,690,000 after purchasing an additional 2,290 shares during the period. Stifel Financial Corp grew its position in Gildan Activewear by 36.9% in the 1st quarter. Stifel Financial Corp now owns 9,002 shares of the textile maker’s stock worth $261,000 after purchasing an additional 2,425 shares during the period. Meag Munich Ergo Kapitalanlagegesellschaft MBH grew its position in Gildan Activewear by 13.9% in the 3rd quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 30,973 shares of the textile maker’s stock worth $930,000 after purchasing an additional 3,769 shares during the period. Finally, Global X Management Co LLC grew its position in 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. 70.91% of the stock is owned by institutional investors and hedge funds.

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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The Fly

Analyst Recommendations for Gildan Activewear (NYSE:GIL)

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