Gildan Activewear Inc. (GIL) Earns “Outperform” Rating from RBC Capital Markets
Gildan Activewear Inc. (NYSE:GIL)‘s stock had its “outperform” rating reiterated by RBC Capital Markets in a research report issued to clients and investors on Monday. They currently have a $44.50 target price on the stock. RBC Capital Markets’ price target points to a potential upside of 65.24% from the company’s current price.
GIL has been the topic of several other research reports. Desjardins reiterated a “buy” rating and issued a $43.00 price target on shares of Gildan Activewear in a research note on Thursday, July 28th. Zacks Investment Research cut shares of Gildan Activewear from a “buy” rating to a “hold” rating in a research note on Monday, July 25th. Brean Capital reiterated a “hold” rating on shares of Gildan Activewear in a research note on Thursday, July 28th. Scotiabank reiterated an “outperform” rating and issued a $44.00 price target on shares of Gildan Activewear in a research note on Wednesday, July 6th. Finally, TD Securities reiterated a “buy” rating and issued a $36.00 price target on shares of Gildan Activewear in a research note on Thursday, July 7th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Gildan Activewear currently has a consensus rating of “Buy” and a consensus target price of $36.68.
Gildan Activewear (NYSE:GIL) traded down 0.66% during trading on Monday, reaching $26.93. The company had a trading volume of 287,706 shares. Gildan Activewear has a 12-month low of $22.43 and a 12-month high of $32.20. The firm has a market capitalization of $6.24 billion, a PE ratio of 18.74 and a beta of 0.99. The firm’s 50 day moving average price is $28.26 and its 200 day moving average price is $29.50.
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Gildan Activewear (NYSE:GIL) last issued its earnings results on Wednesday, July 27th. The company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.42 by $0.01. The firm earned $689 million during the quarter, compared to the consensus estimate of $697.92 million. Gildan Activewear had a return on equity of 17.19% and a net margin of 13.94%. The company’s quarterly revenue was down 3.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.42 EPS. Analysts anticipate that Gildan Activewear will post $1.53 earnings per share for the current year.
A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Gildan Activewear by 51.3% in the second quarter. Vanguard Group Inc. now owns 5,970,012 shares of the company’s stock worth $175,100,000 after buying an additional 2,022,986 shares in the last quarter. Norges Bank bought a new position in shares of Gildan Activewear during the fourth quarter worth approximately $51,030,000. Mackenzie Financial Corp bought a new position in shares of Gildan Activewear during the second quarter worth approximately $43,870,000. Jarislowsky Fraser Ltd increased its position in shares of Gildan Activewear by 16.2% in the fourth quarter. Jarislowsky Fraser Ltd now owns 10,460,503 shares of the company’s stock worth $296,246,000 after buying an additional 1,455,910 shares in the last quarter. Finally, Scopus Asset Management L.P. increased its position in shares of Gildan Activewear by 722.9% in the fourth quarter. Scopus Asset Management L.P. now owns 1,220,842 shares of the company’s stock worth $34,696,000 after buying an additional 1,072,480 shares in the last quarter. Institutional investors and hedge funds own 72.64% of the company’s stock.
About Gildan Activewear
Gildan Activewear Inc is a manufacturer and marketer of branded basic family apparel. The Company’s segments include Printwear and Branded Apparel. It offers T-shirts, fleece, sport shirts, underwear, socks, hosiery and shapewear. It markets its products through approximately two main distribution channels.
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