Gildan Activewear (NYSE:GIL) Upgraded to Buy by Desjardins

Desjardins upgraded shares of Gildan Activewear (NYSE:GIL) (TSE:GIL) from a hold rating to a buy rating in a report published on Friday, BenzingaRatingsTable reports.

A number of other analysts have also commented on the stock. Zacks Investment Research raised shares of Gildan Activewear from a hold rating to a buy rating and set a $45.00 price objective for the company in a research note on Wednesday. TD Securities upped their price objective 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 upped their price objective 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 reaffirmed a strong-buy rating and set a $14.00 price objective on shares of Gildan Activewear in a research note on Thursday, May 2nd. Three equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of $34.66.

NYSE GIL traded down $0.54 on Friday, reaching $38.65. The company’s stock had a trading volume of 674,284 shares, compared to its average volume of 362,458. Gildan Activewear has a twelve month low of $28.11 and a twelve month high of $40.40. The company has a current ratio of 4.92, a quick ratio of 1.74 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $8.02 billion, a PE ratio of 20.78, a PEG ratio of 1.43 and a beta of 0.83. The business has a 50 day moving average price of $39.16.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued its quarterly earnings results on Thursday, August 1st. The textile maker reported $0.57 earnings per share for the quarter, beating the Zacks’ 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 during the quarter, compared to the consensus estimate of $793.91 million. During the same period in the prior year, the company earned $0.52 EPS. Gildan Activewear’s revenue was up 4.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Gildan Activewear will post 1.97 EPS for the current fiscal year.

A number of hedge funds have recently bought and sold shares of GIL. Norges Bank purchased a new stake in Gildan Activewear during the fourth quarter valued at about $66,115,000. Pzena Investment Management LLC lifted its stake in Gildan Activewear by 87.2% during the first quarter. Pzena Investment Management LLC now owns 3,718,142 shares of the textile maker’s stock valued at $133,742,000 after buying an additional 1,732,215 shares in the last quarter. FMR LLC lifted its stake in Gildan Activewear by 19.3% during the first quarter. FMR LLC now owns 9,830,993 shares of the textile maker’s stock valued at $353,485,000 after buying an additional 1,589,389 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in Gildan Activewear by 89.6% during the first quarter. The Manufacturers Life Insurance Company now owns 2,823,941 shares of the textile maker’s stock valued at $101,577,000 after buying an additional 1,334,579 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp purchased a new stake in Gildan Activewear during the first quarter valued at about $12,376,000. 68.90% of the stock is owned by institutional investors.

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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Analyst Recommendations for Gildan Activewear (NYSE:GIL)

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