Gildan Activewear Inc (GIL) Receives New Coverage from Analysts at Macquarie
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.
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