Gildan Activewear Inc (GIL) Stock Rating Upgraded by Zacks Investment Research
Gildan Activewear Inc (NYSE:GIL) (TSE:GIL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday. The firm presently has a $31.00 price objective on the textile maker’s stock. Zacks Investment Research‘s price target indicates a potential upside of 10.67% from the stock’s current price.
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. “
Several other equities research analysts also recently commented on GIL. Royal Bank of Canada upped their target price on Gildan Activewear from $29.00 to $30.00 and gave the company an “outperform” rating in a report on Monday, April 24th. TD Securities upped their target price on Gildan Activewear from $31.00 to $32.00 and gave the company a “buy” rating in a report on Thursday, May 4th. Finally, TheStreet downgraded Gildan Activewear from a “b-” rating to a “c” rating in a report on Wednesday, May 3rd. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $35.11.
Gildan Activewear (NYSE:GIL) remained flat at $28.01 on Tuesday. The stock had a trading volume of 583,839 shares. Gildan Activewear has a 52 week low of $23.55 and a 52 week high of $32.20. The firm has a market cap of $6.31 billion, a PE ratio of 17.78 and a beta of 1.14. The company’s 50-day moving average is $27.69 and its 200 day moving average is $26.40.
Gildan Activewear (NYSE:GIL) last announced its earnings results on Wednesday, May 3rd. The textile maker reported $0.39 EPS for the quarter, beating the consensus estimate of $0.35 by $0.04. Gildan Activewear had a return on equity of 16.67% and a net margin of 13.38%. The business had revenue of $665.40 million during the quarter, compared to the consensus estimate of $664.37 million. On average, analysts forecast that Gildan Activewear will post $1.68 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 12th. Investors of record on Thursday, May 18th will be given a dividend of $0.0935 per share. This represents a $0.37 annualized dividend and a yield of 1.34%. The ex-dividend date of this dividend is Tuesday, May 16th. Gildan Activewear’s payout ratio is 21.68%.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Meag Munich Ergo Kapitalanlagegesellschaft raised its position in Gildan Activewear by 22.1% in the third quarter. Meag Munich Ergo Kapitalanlagegesellschaft now owns 116,000 shares of the textile maker’s stock valued at $3,410,000 after buying an additional 21,000 shares during the last quarter. Janus Capital Management raised its position in Gildan Activewear by 1.3% in the third quarter. Janus Capital Management now owns 7,471,278 shares of the textile maker’s stock valued at $225,341,000 after buying an additional 98,216 shares during the last quarter. Great West Life Assurance Co. Can raised its position in Gildan Activewear by 7.7% in the fourth quarter. Great West Life Assurance Co. Can now owns 2,756,246 shares of the textile maker’s stock valued at $78,554,000 after buying an additional 197,677 shares during the last quarter. CIBC Asset Management Inc raised its position in Gildan Activewear by 98.5% in the fourth quarter. CIBC Asset Management Inc now owns 1,946,403 shares of the textile maker’s stock valued at $55,364,000 after buying an additional 965,793 shares during the last quarter. Finally, Cooke & Bieler LP raised its position in Gildan Activewear by 30.8% in the fourth quarter. Cooke & Bieler LP now owns 4,360,077 shares of the textile maker’s stock valued at $123,913,000 after buying an additional 1,027,658 shares during the last quarter. 73.45% of the stock is currently owned by hedge funds and other institutional investors.
Gildan Activewear Company Profile
Gildan Activewear Inc is a manufacturer and marketer of branded basic family apparel, including T-shirts, fleece, sport shirts, underwear, socks, hosiery and shapewear. The Company operates through two segments: Printwear and Branded Apparel. The Printwear segment designs, manufactures, sources, markets, and distributes undecorated activewear products.
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