Desjardins Upgrades Gildan Activewear (NYSE:GIL) to “Buy”
Desjardins upgraded shares of Gildan Activewear (NYSE:GIL) (TSE:GIL) from a hold rating to a buy rating in a research note issued to investors on Friday, Briefing.com Automated Import reports. Desjardins currently has $42.00 target price on the textile maker’s stock.
A number of other equities analysts have also issued reports on GIL. Citigroup increased their price target on Gildan Activewear from $37.00 to $40.00 and gave the company a neutral rating in a research note on Friday, August 2nd. ValuEngine lowered Gildan Activewear from a buy rating to a hold rating in a research note on Tuesday, August 6th. Zacks Investment Research lowered Gildan Activewear from a hold rating to a sell rating in a research note on Tuesday, October 22nd. Stifel Nicolaus set a $28.00 price target on Gildan Activewear and gave the company a hold rating in a research note on Friday, November 1st. Finally, Bank of America lowered Gildan Activewear from a buy rating to an underperform rating and set a $23.00 price target for the company. in a research note on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of Hold and a consensus target price of $31.40.
Shares of NYSE GIL opened at $28.95 on Friday. The stock has a fifty day moving average price of $27.86 and a two-hundred day moving average price of $35.00. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.61 and a current ratio of 4.18. The firm has a market cap of $5.93 billion, a P/E ratio of 15.56, a PEG ratio of 2.03 and a beta of 0.83. Gildan Activewear has a 1 year low of $23.45 and a 1 year high of $40.40.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Thursday, November 14th will be paid a dividend of $0.134 per share. This represents a $0.54 annualized dividend and a dividend yield of 1.85%. The ex-dividend date of this dividend is Wednesday, November 13th. Gildan Activewear’s dividend payout ratio is presently 29.03%.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quest Capital Management Inc. ADV bought a new stake in shares of Gildan Activewear during the 3rd quarter worth $98,000. Colony Group LLC boosted its position in shares of Gildan Activewear by 28.3% in the second quarter. Colony Group LLC now owns 414,470 shares of the textile maker’s stock worth $16,032,000 after buying an additional 91,524 shares during the period. Envestnet Asset Management Inc. boosted its position in shares of Gildan Activewear by 61.6% in the third quarter. Envestnet Asset Management Inc. now owns 77,653 shares of the textile maker’s stock worth $2,757,000 after buying an additional 29,605 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Gildan Activewear by 72.5% in the second quarter. JPMorgan Chase & Co. now owns 832,244 shares of the textile maker’s stock worth $31,999,000 after buying an additional 349,750 shares during the period. Finally, Mcclain Value Management LLC boosted its position in shares of Gildan Activewear by 7.1% in the second quarter. Mcclain Value Management LLC now owns 69,537 shares of the textile maker’s stock worth $2,690,000 after buying an additional 4,605 shares during the period. 66.85% of the stock is owned by institutional investors and hedge funds.
About Gildan Activewear
Gildan Activewear Inc manufactures and sells a range of apparel products in North America, Europe, the Asia-Pacific, and Latin America. 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, Comfort Colors, American Apparel, Anvil, Alstyle, and Gold Toe brands.
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