Gildan Activewear (NYSE:GIL) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Gildan Activewear (NYSE:GIL) (TSE:GIL) from a hold rating to a buy rating in a report published on Wednesday, Zacks.com reports. Zacks Investment Research currently has $45.00 price target 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 equities research analysts have also commented on the stock. TD Securities raised their price target on shares of Gildan Activewear from $38.00 to $40.00 and gave the company a hold rating in a research note on Thursday, May 2nd. Royal Bank of Canada raised their price target on shares of Gildan Activewear from $34.00 to $35.00 and gave the company a hold rating in a research note on Thursday, May 2nd. Finally, Raymond James restated a strong-buy rating and issued a $14.00 price target on shares of Gildan Activewear in a research note on Thursday, May 2nd. Three analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of Buy and a consensus target price of $34.66.

Shares of NYSE:GIL traded down $0.54 during trading hours on Wednesday, hitting $38.65. The stock had a trading volume of 674,284 shares, compared to its average volume of 362,458. The firm has a fifty day moving average price of $39.16. Gildan Activewear has a 1-year low of $28.11 and a 1-year high of $40.40. The firm has a market capitalization of $8.02 billion, a price-to-earnings ratio of 20.78, a price-to-earnings-growth ratio of 1.43 and a beta of 0.83. The company has a debt-to-equity ratio of 0.50, a current ratio of 4.92 and a quick ratio of 1.74.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last announced its quarterly earnings results on Thursday, August 1st. The textile maker reported $0.57 EPS for the quarter, beating the consensus estimate of $0.55 by $0.02. Gildan Activewear had a net margin of 10.59% and a return on equity of 18.24%. The company had revenue of $801.60 million for the quarter, compared to analyst estimates of $793.91 million. During the same quarter last year, the business earned $0.52 earnings per share. Gildan Activewear’s revenue was up 4.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Gildan Activewear will post 1.97 EPS for the current fiscal year.

Several large investors have recently made changes to their positions in GIL. Zions Bancorporation N.A. bought a new position in shares of Gildan Activewear in the first quarter valued at approximately $26,000. Beutel Goodman & Co Ltd. bought a new position in shares of Gildan Activewear in the first quarter valued at approximately $56,000. Wetherby Asset Management Inc. bought a new position in shares of Gildan Activewear in the second quarter valued at approximately $205,000. Quadrant Capital Group LLC boosted its holdings in shares of Gildan Activewear by 50.0% in the first quarter. Quadrant Capital Group LLC now owns 6,174 shares of the textile maker’s stock valued at $218,000 after acquiring an additional 2,058 shares in the last quarter. Finally, Scout Investments Inc. bought a new position in shares of Gildan Activewear in the first quarter valued at approximately $222,000. Institutional investors own 68.90% of the company’s stock.

Gildan Activewear Company Profile

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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