Gildan Activewear (GIL) Rating Lowered to C+ at TheStreet

Gildan Activewear (NYSE:GIL) (TSE:GIL) was downgraded by stock analysts at TheStreet from a “b” rating to a “c+” rating in a research report issued on Thursday.

Several other brokerages have also recently weighed in on GIL. Royal Bank of Canada boosted their price objective on Gildan Activewear from $32.00 to $33.00 and gave the stock a “sector perform” rating in a research note on Friday, August 3rd. Bank of America cut Gildan Activewear from a “buy” rating to an “underperform” rating and reduced their price objective for the stock from $34.00 to $26.00 in a research note on Tuesday, July 24th. Raymond James reissued a “strong-buy” rating and set a $40.00 price objective on shares of Gildan Activewear in a research note on Friday. Desjardins raised Gildan Activewear from a “hold” rating to a “buy” rating in a research note on Friday. Finally, ValuEngine cut Gildan Activewear from a “hold” rating to a “sell” rating in a research note on Tuesday, September 4th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Gildan Activewear has an average rating of “Buy” and an average price target of $33.78.

Shares of GIL stock traded up $0.63 during trading hours on Thursday, hitting $31.13. The stock had a trading volume of 824,678 shares, compared to its average volume of 502,815. The company has a current ratio of 5.06, a quick ratio of 1.76 and a debt-to-equity ratio of 0.47. Gildan Activewear has a one year low of $25.33 and a one year high of $34.19. The stock has a market capitalization of $6.45 billion, a price-to-earnings ratio of 17.89, a price-to-earnings-growth ratio of 1.43 and a beta of 0.72.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued its quarterly earnings data on Thursday, November 1st. The textile maker reported $0.57 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.01. Gildan Activewear had a return on equity of 18.70% and a net margin of 12.28%. The company had revenue of $754.40 million for the quarter, compared to analysts’ expectations of $759.15 million. During the same period in the previous year, the firm posted $0.53 earnings per share. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. As a group, research analysts predict that Gildan Activewear will post 1.86 EPS for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Global X Management Co LLC grew its stake in shares of Gildan Activewear by 145.3% during the second quarter. Global X Management Co LLC now owns 6,390 shares of the textile maker’s stock valued at $180,000 after buying an additional 3,785 shares during the last quarter. Lester Murray Antman dba SimplyRich bought a new position in shares of Gildan Activewear during the second quarter valued at approximately $205,000. Allianz Asset Management GmbH bought a new position in shares of Gildan Activewear during the first quarter valued at approximately $208,000. Jane Street Group LLC bought a new position in shares of Gildan Activewear during the second quarter valued at approximately $221,000. Finally, Cornerstone Wealth Management LLC bought a new position in shares of Gildan Activewear during the second quarter valued at approximately $250,000. 70.91% of the stock is currently owned by hedge funds and other institutional investors.

About Gildan Activewear

Gildan Activewear Inc manufactures and sells a range of apparel products in the United States, Canada, Mexico, Europe, the Asia-Pacific, and Latin America. It operates in two segments, Printwear and Branded Apparel. The company manufactures and markets active wear products, including T-shirts, fleece tops and bottoms, and sport shirts under Gildan, Gildan Performance, Gildan Platinum, Gildan Hammer, Smart Basics, Comfort Colors, American Apparel, Anvil, Alstyle, Gold Toe, and Mossy Oak brands.

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Analyst Recommendations for Gildan Activewear (NYSE:GIL)

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