Gildan Activewear, Inc. (GIL) Upgraded to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) from a hold rating to a buy rating in a report issued on Tuesday. Zacks Investment Research currently has $35.00 target price on the textile maker’s stock.
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. “
Several other research firms also recently issued reports on GIL. CIBC upgraded Gildan Activewear from a sector perform rating to a sector outperform rating in a research note on Wednesday, June 28th. Royal Bank Of Canada downgraded Gildan Activewear from an outperform rating to a sector perform rating and set a $31.00 price target for the company. in a research note on Tuesday, July 11th. Canaccord Genuity downgraded Gildan Activewear from a buy rating to a hold rating and set a $32.00 price target for the company. in a research note on Wednesday, July 12th. TD Securities downgraded Gildan Activewear from a buy rating to a hold rating and upped their price target for the stock from $32.00 to $33.00 in a research note on Friday, August 4th. Finally, National Bank Financial downgraded Gildan Activewear from an outperform rating to a sector perform rating in a research note on Friday, August 4th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Gildan Activewear presently has a consensus rating of Hold and a consensus price target of $35.29.
Shares of Gildan Activewear (GIL) opened at 30.83 on Tuesday. Gildan Activewear has a 1-year low of $23.55 and a 1-year high of $31.83. The firm has a market cap of $6.92 billion, a PE ratio of 18.66 and a beta of 0.72. The company has a 50-day moving average of $30.31 and a 200-day moving average of $28.34.
Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued its earnings results on Thursday, August 3rd. The textile maker reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.01. Gildan Activewear had a return on equity of 18.65% and a net margin of 14.16%. The firm had revenue of $715.40 million for the quarter, compared to the consensus estimate of $753.85 million. During the same quarter in the previous year, the company posted $0.41 earnings per share. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. Analysts predict that Gildan Activewear will post $1.70 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 11th. Investors of record on Thursday, August 17th will be given a dividend of $0.094 per share. The ex-dividend date is Tuesday, August 15th. This represents a $0.38 annualized dividend and a dividend yield of 1.22%. Gildan Activewear’s dividend payout ratio is presently 22.42%.
Institutional investors have recently bought and sold shares of the company. US Bancorp DE boosted 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 valued at $101,000 after buying an additional 725 shares in the last quarter. Commonwealth Bank of Australia boosted 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 valued at $103,000 after buying an additional 303 shares in the last quarter. DekaBank Deutsche Girozentrale boosted 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 valued at $106,000 after buying an additional 1,988 shares in the last quarter. PNC Financial Services Group Inc. boosted 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 valued at $107,000 after buying an additional 1,198 shares in the last quarter. Finally, Global X Management Co. LLC boosted 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 valued at $110,000 after buying an additional 893 shares in the last quarter. 72.57% of the stock is owned by institutional investors and hedge funds.
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.
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