Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday, October 27th. The brokerage presently has a $35.00 price target on the textile maker’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 15.74% 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. “
Other equities analysts also recently issued reports about the stock. BMO Capital Markets reissued a “buy” rating and issued a $34.00 price target on shares of Gildan Activewear in a research note on Friday, October 20th. Royal Bank Of Canada downgraded shares of Gildan Activewear from an “outperform” rating to a “sector perform” rating and set a $31.00 target price for the company. in a research note on Tuesday, July 11th. TD Securities downgraded shares of Gildan Activewear from a “buy” rating to a “hold” rating and raised their target price for the company from $32.00 to $33.00 in a research note on Friday, August 4th. Canaccord Genuity set a $32.00 price target on shares of Gildan Activewear and gave the company a “buy” rating in a report on Friday, July 7th. Finally, National Bank Financial cut shares of Gildan Activewear from an “outperform” rating to a “sector perform” rating in a report on Friday, August 4th. Nine investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $32.20.
Shares of Gildan Activewear (NYSE:GIL) opened at $30.24 on Friday. The company has a current ratio of 5.13, a quick ratio of 1.72 and a debt-to-equity ratio of 0.34. Gildan Activewear has a 1-year low of $23.55 and a 1-year high of $32.15. The stock has a market cap of $6,635.11, a price-to-earnings ratio of 17.48, a price-to-earnings-growth ratio of 1.31 and a beta of 0.74.
Gildan Activewear (NYSE:GIL) (TSE:GIL) last announced its earnings results on Thursday, November 2nd. The textile maker reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.02. Gildan Activewear had a net margin of 14.21% and a return on equity of 18.80%. The company had revenue of $716.40 million during the quarter, compared to analyst estimates of $748.86 million. During the same period in the previous year, the business earned $0.50 earnings per share. The firm’s quarterly revenue was up .2% compared to the same quarter last year. equities research analysts forecast that Gildan Activewear will post 1.71 earnings per share for the current fiscal year.
Gildan Activewear announced that its board has approved a stock repurchase plan on Thursday, November 2nd that allows the company to repurchase 4,600,000 shares. This repurchase authorization allows the textile maker to buy shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.
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Hedge funds and other institutional investors have recently bought and sold shares of the stock. Janus Henderson Group PLC acquired a new position in Gildan Activewear during the 2nd quarter valued at approximately $266,358,000. FMR LLC increased its position in Gildan Activewear by 18.2% during the second quarter. FMR LLC now owns 12,177,081 shares of the textile maker’s stock worth $374,195,000 after purchasing an additional 1,875,214 shares during the last quarter. TD Asset Management Inc. boosted its stake in Gildan Activewear by 17.6% during the second quarter. TD Asset Management Inc. now owns 4,168,600 shares of the textile maker’s stock worth $127,912,000 after buying an additional 623,938 shares during the period. Cardinal Capital Management Inc. boosted its stake in shares of Gildan Activewear by 353.0% in the second quarter. Cardinal Capital Management Inc. now owns 778,955 shares of the textile maker’s stock valued at $23,910,000 after purchasing an additional 607,005 shares during the period. Finally, AGF Investments Inc. boosted its stake in shares of Gildan Activewear by 8,373.2% in the second quarter. AGF Investments Inc. now owns 543,472 shares of the textile maker’s stock valued at $16,710,000 after purchasing an additional 537,058 shares during the period. Hedge funds and other institutional investors own 73.65% of the company’s stock.
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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