Zacks Investment Research upgraded shares of Gildan Activewear (NYSE:GIL) (TSE:GIL) from a sell rating to a hold rating in a report published on Tuesday morning.
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. “
GIL has been the subject of a number of other research reports. TD Securities increased their price objective on shares of Gildan Activewear from $35.00 to $36.00 and gave the stock a buy rating in a research report on Friday, August 3rd. Desjardins cut shares of 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. ValuEngine raised shares of Gildan Activewear from a sell rating to a hold rating in a research report on Monday, September 17th. TheStreet cut shares of Gildan Activewear from a b rating to a c+ rating in a research report on Thursday, November 1st. Finally, Bank of America raised shares of Gildan Activewear from an underperform rating to a buy rating in a research report on Thursday, August 2nd. Four research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Gildan Activewear presently has an average rating of Buy and an average price target of $34.25.
Shares of NYSE GIL traded down $0.51 during midday trading on Tuesday, reaching $31.58. 24,867 shares of the stock were exchanged, compared to its average volume of 542,343. The company has a market capitalization of $6.45 billion, a P/E ratio of 18.37, a P/E/G ratio of 1.40 and a beta of 0.72. The company has a debt-to-equity ratio of 0.45, a current ratio of 4.94 and a quick ratio of 1.79. Gildan Activewear has a twelve month low of $25.33 and a twelve month high of $34.19.
Gildan Activewear (NYSE:GIL) (TSE:GIL) last announced its quarterly earnings results on Thursday, November 1st. The textile maker reported $0.57 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.01. The business had revenue of $754.40 million during the quarter, compared to the consensus estimate of $759.15 million. Gildan Activewear had a net margin of 12.28% and a return on equity of 18.80%. The business’s revenue was up 5.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.53 EPS. As a group, research analysts expect that Gildan Activewear will post 1.86 EPS for the current year.
The firm also recently declared 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. The ex-dividend date is Wednesday, November 14th. This represents a $0.34 annualized dividend and a yield of 1.08%. Gildan Activewear’s dividend payout ratio is presently 26.16%.
Hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP lifted its position in shares of Gildan Activewear by 1.4% during 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 last quarter. Stifel Financial Corp lifted its position in shares of Gildan Activewear by 36.9% during 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 last quarter. Millennium Management LLC lifted its position in shares of Gildan Activewear by 82.7% during the 1st quarter. Millennium Management LLC now owns 32,036 shares of the textile maker’s stock worth $926,000 after purchasing an additional 14,506 shares during the last quarter. Allianz Asset Management GmbH purchased a new stake in shares of Gildan Activewear during the 1st quarter worth $208,000. Finally, Addenda Capital Inc. lifted its position in shares of Gildan Activewear by 96.8% during the 2nd quarter. Addenda Capital Inc. now owns 665,512 shares of the textile maker’s stock worth $19,014,000 after purchasing an additional 327,321 shares during the last quarter. 70.76% of the stock is owned by institutional investors.
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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