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.
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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