Zacks Investment Research upgraded shares of Gildan Activewear (NYSE:GIL) (TSE:GIL) from a sell rating to a hold rating in a research note published on Wednesday, March 21st.
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. “
Other equities research analysts have also recently issued reports about the company. Stifel Nicolaus set a $37.00 target price on Gildan Activewear and gave the company a buy rating in a research note on Friday, December 15th. Royal Bank of Canada set a $32.00 price objective on shares of Gildan Activewear and gave the company a hold rating in a research note on Wednesday, February 14th. ValuEngine cut shares of Gildan Activewear from a buy rating to a hold rating in a research note on Tuesday, February 27th. Goldman Sachs restated a buy rating and set a $37.00 price objective on shares of Gildan Activewear in a research note on Friday, December 8th. Finally, DA Davidson set a $32.00 price objective on shares of Gildan Activewear and gave the company a hold rating in a research note on Tuesday, March 6th. Nine research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Gildan Activewear presently has a consensus rating of Hold and a consensus price target of $33.89.
GIL traded up $0.17 during trading hours on Wednesday, hitting $29.57. 199,605 shares of the stock were exchanged, compared to its average volume of 448,776. Gildan Activewear has a 12 month low of $26.97 and a 12 month high of $34.19. The stock has a market capitalization of $6,461.56, a PE ratio of 17.20, a price-to-earnings-growth ratio of 1.26 and a beta of 0.86. The company has a debt-to-equity ratio of 0.31, a current ratio of 5.06 and a quick ratio of 1.40.
Gildan Activewear (NYSE:GIL) (TSE:GIL) last announced its quarterly earnings data on Thursday, February 22nd. The textile maker reported $0.31 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.31. The firm had revenue of $653.70 million for the quarter, compared to analysts’ expectations of $636.62 million. Gildan Activewear had a return on equity of 18.63% and a net margin of 13.17%. The firm’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same period last year, the business posted $0.32 earnings per share. research analysts anticipate that Gildan Activewear will post 1.87 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, April 2nd. Investors of record on Thursday, March 8th were issued a dividend of $0.112 per share. This is a positive change from Gildan Activewear’s previous quarterly dividend of $0.09. This represents a $0.45 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date was Wednesday, March 7th. Gildan Activewear’s payout ratio is presently 26.16%.
Gildan Activewear declared that its board has initiated a share repurchase program on Thursday, February 22nd that permits the company to buyback 10,960,000 outstanding shares. This buyback authorization permits the textile maker to repurchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
Large investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP grew its stake in Gildan Activewear by 78.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 150,553 shares of the textile maker’s stock valued at $4,626,000 after acquiring an additional 66,100 shares in the last quarter. Sei Investments Co. grew its stake in Gildan Activewear by 29.5% during the 3rd quarter. Sei Investments Co. now owns 91,307 shares of the textile maker’s stock valued at $2,856,000 after acquiring an additional 20,809 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Gildan Activewear by 0.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 291,067 shares of the textile maker’s stock valued at $9,104,000 after acquiring an additional 2,399 shares in the last quarter. Quantbot Technologies LP grew its stake in Gildan Activewear by 380.7% during the 3rd quarter. Quantbot Technologies LP now owns 11,182 shares of the textile maker’s stock valued at $349,000 after acquiring an additional 8,856 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd grew its stake in Gildan Activewear by 150.4% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 17,921 shares of the textile maker’s stock valued at $560,000 after acquiring an additional 10,765 shares in the last quarter. 73.16% of the stock is currently owned by hedge funds and other institutional investors.
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About Gildan Activewear
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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