Macquarie initiated coverage on shares of Gildan Activewear Inc (NYSE:GIL) (TSE:GIL) in a report issued on Wednesday. The brokerage issued a neutral rating on the textile maker’s stock.

Other equities research analysts have also recently issued reports about the stock. Zacks Investment Research upgraded shares of Gildan Activewear from a hold rating to a buy rating and set a $35.00 price objective for the company in a research report on Tuesday, August 29th. BMO Capital Markets restated a buy rating and issued a $34.00 price target (up from $32.00) on shares of Gildan Activewear in a report on Friday, August 4th. Finally, Canaccord Genuity set a $32.00 price target on shares of Gildan Activewear and gave the stock a buy rating in a report on Friday, July 7th. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock currently has an average rating of Hold and an average price target of $35.29.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its quarterly earnings data on Thursday, August 3rd. The textile maker reported $0.49 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.01. Gildan Activewear had a net margin of 15.06% and a return on equity of 20.64%. The company had revenue of $715.40 million during the quarter, compared to analysts’ expectations of $753.85 million. During the same period in the prior year, the company posted $0.41 earnings per share. Gildan Activewear’s revenue for the quarter was up 3.8% compared to the same quarter last year.

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Several hedge funds and other institutional investors have recently modified their holdings of GIL. Janus Henderson Group PLC acquired a new position in shares of Gildan Activewear during the second quarter valued at about $266,358,000. FMR LLC grew its holdings in shares of Gildan Activewear by 18.2% during the second quarter. FMR LLC now owns 12,177,081 shares of the textile maker’s stock valued at $374,195,000 after buying an additional 1,875,214 shares during the last quarter. TD Asset Management Inc. grew its holdings in shares of 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 valued at $127,912,000 after buying an additional 623,938 shares during the last quarter. Cardinal Capital Management Inc. grew its holdings in shares of Gildan Activewear by 353.0% during the second quarter. Cardinal Capital Management Inc. now owns 778,955 shares of the textile maker’s stock valued at $23,910,000 after buying an additional 607,005 shares during the last quarter. Finally, AGF Investments Inc. grew its holdings in shares of Gildan Activewear by 8,373.2% during the second quarter. AGF Investments Inc. now owns 543,472 shares of the textile maker’s stock valued at $16,710,000 after buying an additional 537,058 shares during the last quarter. Hedge funds and other institutional investors own 72.70% 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.

Analyst Recommendations for Gildan Activewear (NYSE:GIL)

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