Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Monday.

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. “

GIL has been the topic of several other reports. Canaccord Genuity lowered shares of Gildan Activewear from a “buy” rating to a “hold” rating and set a $32.00 price objective on the stock. in a research report on Wednesday, July 12th. CIBC upgraded shares of Gildan Activewear from a “sector perform” rating to a “sector outperform” rating in a research report on Wednesday, June 28th. Royal Bank Of Canada lowered shares of Gildan Activewear from an “outperform” rating to a “sector perform” rating and set a $31.00 price objective on the stock. in a research report on Tuesday, July 11th. National Bank Financial lowered shares of Gildan Activewear from an “outperform” rating to a “sector perform” rating in a research report on Friday, August 4th. Finally, TD Securities lowered shares of Gildan Activewear from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $32.00 to $33.00 in a research report on Friday, August 4th. Seven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $35.14.

Shares of Gildan Activewear (NYSE:GIL) traded up 0.26% during mid-day trading on Monday, hitting $30.92. 221,039 shares of the stock traded hands. The stock has a market cap of $6.94 billion, a price-to-earnings ratio of 18.72 and a beta of 0.72. The firm has a 50 day moving average of $30.31 and a 200 day moving average of $28.34. Gildan Activewear has a 12 month low of $23.55 and a 12 month high of $31.83.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last released its quarterly earnings data on Thursday, August 3rd. The textile maker reported $0.49 EPS for the quarter, topping the consensus estimate of $0.48 by $0.01. Gildan Activewear had a net margin of 14.16% and a return on equity of 18.65%. The business had revenue of $715.40 million for the quarter, compared to analyst estimates of $753.85 million. During the same period in the previous year, the firm earned $0.41 EPS. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. On average, equities analysts expect that Gildan Activewear will post $1.70 EPS for the current fiscal year.

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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. US Bancorp DE raised 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. Commonwealth Bank of Australia raised its position in Gildan Activewear by 9.7% in the second quarter. Commonwealth Bank of Australia now owns 3,414 shares of the textile maker’s stock worth $103,000 after buying an additional 303 shares during the period. DekaBank Deutsche Girozentrale raised 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. PNC Financial Services Group Inc. raised 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, Global X Management Co. LLC raised 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. Institutional investors own 72.57% of the company’s stock.

About Gildan Activewear

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.

Analyst Recommendations for Gildan Activewear (NYSE:GIL)

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