National Bank Financial Lowers Gildan Activewear, Inc. (NYSE:GIL) to Sector Perform
Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) was downgraded by research analysts at National Bank Financial from an “outperform” rating to a “sector perform” rating in a research note issued on Friday, Marketbeat reports. National Bank Financial also issued estimates for Gildan Activewear’s Q2 2017 earnings at $0.47 EPS, FY2017 earnings at $1.69 EPS, Q2 2018 earnings at $0.51 EPS and FY2018 earnings at $1.83 EPS.
A number of other equities analysts also recently commented on GIL. BMO Capital Markets restated a “buy” rating and set a $34.00 price objective (up previously from $32.00) on shares of Gildan Activewear in a research report on Friday. Canaccord Genuity downgraded shares of Gildan Activewear from a “buy” rating to a “hold” rating and set a $32.00 price objective for the company. in a research report on Wednesday, July 12th. Zacks Investment Research upgraded shares of Gildan Activewear from a “hold” rating to a “buy” rating and set a $34.00 price objective for the company in a research report on Wednesday. Finally, Royal Bank Of Canada upped their price objective on shares of Gildan Activewear from $30.00 to $31.00 and gave the stock an “outperform” rating in a research report on Thursday, May 4th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Gildan Activewear presently has a consensus rating of “Hold” and a consensus target price of $35.14.
Gildan Activewear (NYSE:GIL) traded down 0.17% during mid-day trading on Friday, reaching $29.99. 322,860 shares of the company traded hands. Gildan Activewear has a 52 week low of $23.55 and a 52 week high of $31.83. The firm has a market capitalization of $6.75 billion, a price-to-earnings ratio of 19.04 and a beta of 0.72. The stock’s 50 day moving average price is $30.59 and its 200 day moving average price is $27.74.
Gildan Activewear (NYSE:GIL) (TSE:GIL) last announced its quarterly earnings data on Thursday, August 3rd. The textile maker reported $0.49 EPS for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.01. The company had revenue of $715.40 million during the quarter, compared to the consensus estimate of $753.85 million. Gildan Activewear had a net margin of 14.16% and a return on equity of 18.63%. Gildan Activewear’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.41 EPS. Equities analysts forecast that Gildan Activewear will post $1.69 EPS for the current year.
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Several institutional investors have recently bought and sold shares of GIL. DekaBank Deutsche Girozentrale boosted its position in Gildan Activewear by 133.7% in the second quarter. DekaBank Deutsche Girozentrale now owns 3,475 shares of the textile maker’s stock worth $106,000 after buying an additional 1,988 shares during the period. Global X Management Co. LLC boosted its position in Gildan Activewear by 33.1% in the second quarter. Global X Management Co. LLC now owns 3,591 shares of the textile maker’s stock worth $110,000 after buying an additional 893 shares during the period. US Bancorp DE boosted its position in Gildan Activewear by 24.2% in the first quarter. US Bancorp DE now owns 3,718 shares of the textile maker’s stock worth $101,000 after buying an additional 725 shares during the period. PNC Financial Services Group Inc. boosted its position in Gildan Activewear by 43.2% in the first quarter. PNC Financial Services Group Inc. now owns 3,968 shares of the textile maker’s stock worth $107,000 after buying an additional 1,198 shares during the period. Finally, Chevy Chase Trust Holdings Inc. bought a new position in Gildan Activewear during the second quarter worth $209,000. 77.22% of the stock is currently owned by institutional investors and hedge funds.
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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