Gildan Activewear, Inc. (NYSE:GIL) Receives Average Rating of “Buy” from Analysts
Shares of Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) have received an average rating of “Buy” from the thirteen research firms that are presently covering the stock, Marketbeat Ratings reports. Five analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $35.75.
Several research analysts have issued reports on the company. Zacks Investment Research downgraded Gildan Activewear from a “buy” rating to a “hold” rating in a report on Friday, June 16th. Canaccord Genuity set a $32.00 price objective on Gildan Activewear and gave the stock a “buy” rating in a report on Friday, July 7th. TD Securities reaffirmed a “buy” rating and set a $31.00 price objective on shares of Gildan Activewear in a report on Thursday, April 27th. CIBC raised Gildan Activewear from a “sector perform” rating to a “sector outperform” rating in a report on Wednesday, June 28th. Finally, Royal Bank Of Canada downgraded Gildan Activewear from an “outperform” rating to a “sector perform” rating and set a $31.00 price objective on the stock. in a report on Tuesday, July 11th.
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A number of institutional investors have recently added to or reduced their stakes in the company. BB&T Corp purchased a new position in Gildan Activewear during the first quarter worth about $270,000. AMF Pensionsforsakring AB boosted its position in Gildan Activewear by 3.3% in the first quarter. AMF Pensionsforsakring AB now owns 260,968 shares of the textile maker’s stock worth $7,031,000 after buying an additional 8,230 shares during the period. Russell Investments Group Ltd. boosted its position in Gildan Activewear by 8.9% in the first quarter. Russell Investments Group Ltd. now owns 719,795 shares of the textile maker’s stock worth $19,392,000 after buying an additional 58,852 shares during the period. Janney Montgomery Scott LLC purchased a new position in Gildan Activewear during the first quarter worth about $405,000. Finally, Korea Investment CORP purchased a new position in Gildan Activewear during the first quarter worth about $367,000. Hedge funds and other institutional investors own 77.47% of the company’s stock.
Shares of Gildan Activewear (GIL) traded down 0.17% during mid-day trading on Tuesday, reaching $29.99. The company’s stock had a trading volume of 35,044 shares. The firm has a market capitalization of $6.75 billion, a P/E ratio of 19.04 and a beta of 0.73. Gildan Activewear has a 12 month low of $23.55 and a 12 month high of $32.20. The company has a 50 day moving average of $29.59 and a 200-day moving average of $27.04.
Gildan Activewear (NYSE:GIL) (TSE:GIL) last announced its earnings results on Wednesday, May 3rd. The textile maker reported $0.39 EPS for the quarter, topping the consensus estimate of $0.35 by $0.04. The business had revenue of $665.40 million for the quarter, compared to the consensus estimate of $664.37 million. Gildan Activewear had a return on equity of 18.09% and a net margin of 13.81%. Equities research analysts forecast that Gildan Activewear will post $1.68 EPS for the current year.
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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