Gildan Activewear (NYSE:GIL) (TSE:GIL) was downgraded by research analysts at ValuEngine from a “hold” rating to a “sell” rating in a report issued on Tuesday.
A number of other analysts also recently issued reports on the company. Bank of America downgraded Gildan Activewear from a “buy” rating to an “underperform” rating and decreased their target price for the stock from $34.00 to $26.00 in a research report on Tuesday, July 24th. Desjardins downgraded Gildan Activewear from a “buy” rating to a “hold” rating in a research report on Friday, August 3rd. They noted that the move was a valuation call. Zacks Investment Research raised Gildan Activewear from a “sell” rating to a “hold” rating in a research report on Wednesday, June 6th. Royal Bank of Canada raised their target price on Gildan Activewear from $32.00 to $33.00 and gave the stock a “sector perform” rating in a research report on Friday, August 3rd. Finally, TheStreet raised Gildan Activewear from a “c+” rating to a “b-” rating in a research report on Friday, August 24th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $33.00.
Shares of GIL opened at $29.04 on Tuesday. 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 has a 12 month low of $25.33 and a 12 month high of $34.19. The company has a market cap of $6.13 billion, a P/E ratio of 16.81, a price-to-earnings-growth ratio of 1.34 and a beta of 0.80.
Gildan Activewear (NYSE:GIL) (TSE:GIL) last released 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 return on equity of 18.53% and a net margin of 12.51%. The business had revenue of $764.20 million during the quarter, compared to the consensus estimate of $728.72 million. During the same period last year, the business posted $0.48 earnings per share. The business’s revenue for the quarter was up 6.8% on a year-over-year basis. equities research analysts predict that Gildan Activewear will post 1.88 EPS for the current year.
Several hedge funds and other institutional investors have recently made changes to their positions in GIL. Global X Management Co LLC grew its position in shares of Gildan Activewear by 145.3% in the second quarter. Global X Management Co LLC now owns 6,390 shares of the textile maker’s stock valued at $180,000 after purchasing an additional 3,785 shares in the last quarter. Lester Murray Antman dba SimplyRich purchased a new position in shares of Gildan Activewear in the second quarter valued at $205,000. Allianz Asset Management GmbH purchased a new position in shares of Gildan Activewear in the first quarter valued at $208,000. Jane Street Group LLC purchased a new position in shares of Gildan Activewear in the second quarter valued at $221,000. Finally, Cornerstone Wealth Management LLC purchased a new position in shares of Gildan Activewear in the second quarter valued at $250,000. Institutional investors 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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