Gildan Activewear (NYSE:GIL) Rating Increased to Hold at ValuEngine

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Gildan Activewear (NYSE:GIL) (TSE:GIL) was upgraded by research analysts at ValuEngine from a “sell” rating to a “hold” rating in a note issued to investors on Monday, September 17th.

Other analysts have also issued research reports about the stock. TheStreet upgraded shares of Gildan Activewear from a “c+” rating to a “b-” rating in a research report on Friday, August 24th. TD Securities lifted their price target on shares of Gildan Activewear from $35.00 to $36.00 and gave the company a “buy” rating in a report on Friday, August 3rd. Bank of America upgraded shares of Gildan Activewear from an “underperform” rating to a “buy” rating in a report on Thursday, August 2nd. Zacks Investment Research upgraded shares of Gildan Activewear from a “sell” rating to a “hold” rating in a report on Wednesday, June 20th. Finally, Desjardins lowered shares of 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. One analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $33.00.

Shares of GIL traded up $0.34 during mid-day trading on Monday, reaching $29.15. 706,314 shares of the company’s stock were exchanged, compared to its average volume of 498,186. Gildan Activewear has a 52-week low of $25.33 and a 52-week high of $34.19. The stock has a market cap of $6.32 billion, a price-to-earnings ratio of 16.95, a price-to-earnings-growth ratio of 1.38 and a beta of 0.79. The company has a debt-to-equity ratio of 0.47, a current ratio of 5.06 and a quick ratio of 1.76.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last announced its earnings results on Thursday, August 2nd. The textile maker reported $0.52 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.03. Gildan Activewear had a net margin of 12.51% and a return on equity of 18.53%. The firm had revenue of $764.20 million for the quarter, compared to analyst estimates of $728.72 million. During the same quarter last year, the business earned $0.48 earnings per share. Gildan Activewear’s revenue was up 6.8% compared to the same quarter last year. On average, equities analysts expect that Gildan Activewear will post 1.88 earnings per share for the current fiscal year.

Several large investors have recently bought and sold shares of GIL. Cooke & Bieler LP increased its stake in Gildan Activewear by 4.6% during the 2nd quarter. Cooke & Bieler LP now owns 5,927,975 shares of the textile maker’s stock worth $166,932,000 after buying an additional 260,186 shares during the period. CIBC World Markets Inc. increased its position in shares of Gildan Activewear by 4.6% in the 1st quarter. CIBC World Markets Inc. now owns 2,632,575 shares of the textile maker’s stock worth $76,055,000 after purchasing an additional 115,104 shares during the last quarter. Bank of America Corp DE increased its position in shares of Gildan Activewear by 12.4% in the 2nd quarter. Bank of America Corp DE now owns 2,069,502 shares of the textile maker’s stock worth $58,278,000 after purchasing an additional 228,918 shares during the last quarter. Cardinal Capital Management Inc. increased its position in shares of Gildan Activewear by 9.1% in the 3rd quarter. Cardinal Capital Management Inc. now owns 1,437,080 shares of the textile maker’s stock worth $43,691,000 after purchasing an additional 120,185 shares during the last quarter. Finally, Marathon Asset Management LLP increased its position in shares of Gildan Activewear by 0.5% in the 2nd quarter. Marathon Asset Management LLP now owns 1,345,288 shares of the textile maker’s stock worth $37,870,000 after purchasing an additional 6,039 shares during the last quarter. Institutional investors and hedge funds own 70.80% 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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Analyst Recommendations for Gildan Activewear (NYSE:GIL)

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