Gildan Activewear (NYSE:GIL) Rating Increased to Hold at Desjardins

Desjardins upgraded shares of Gildan Activewear (NYSE:GIL) (TSE:GIL) to a hold rating in a research report sent to investors on Monday, Stock Target Advisor reports. They currently have $40.00 price target on the textile maker’s stock. Desjardins also issued estimates for Gildan Activewear’s Q3 2019 earnings at $0.53 EPS.

GIL has been the subject of a number of other research reports. TD Securities lowered their target price on Gildan Activewear from $45.00 to $44.00 and set a buy rating for the company in a research note on Thursday, October 17th. Zacks Investment Research lowered Gildan Activewear from a hold rating to a sell rating in a research note on Tuesday. Stifel Nicolaus lowered Gildan Activewear from a buy rating to a hold rating and lowered their target price for the company from $44.00 to $30.00 in a research note on Friday. Royal Bank of Canada lowered their price target on Gildan Activewear from $36.00 to $30.00 and set a sector perform rating for the company in a research report on Friday. Finally, ValuEngine lowered Gildan Activewear from a buy rating to a hold rating in a research report on Tuesday, August 6th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $30.60.

Shares of NYSE GIL traded up $1.48 during midday trading on Monday, reaching $28.48. The company had a trading volume of 84,915 shares, compared to its average volume of 1,297,331. Gildan Activewear has a one year low of $23.45 and a one year high of $40.40. The company has a quick ratio of 1.68, a current ratio of 4.33 and a debt-to-equity ratio of 0.55. The firm’s fifty day moving average price is $35.13 and its 200-day moving average price is $37.06. The stock has a market cap of $5.35 billion, a PE ratio of 15.07, a price-to-earnings-growth ratio of 1.06 and a beta of 0.85.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last released its earnings results on Thursday, August 1st. The textile maker reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.02. Gildan Activewear had a return on equity of 18.48% and a net margin of 10.14%. The company had revenue of $801.60 million during the quarter, compared to analyst estimates of $793.91 million. During the same quarter in the previous year, the company posted $0.52 EPS. Gildan Activewear’s revenue for the quarter was up 4.9% on a year-over-year basis. As a group, equities research analysts expect that Gildan Activewear will post 1.69 EPS for the current year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GIL. Amundi Pioneer Asset Management Inc. raised its position in Gildan Activewear by 16.7% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 84,910 shares of the textile maker’s stock valued at $3,055,000 after purchasing an additional 12,174 shares during the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH raised its position in Gildan Activewear by 42.0% during the 2nd quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 28,149 shares of the textile maker’s stock valued at $1,083,000 after purchasing an additional 8,320 shares during the last quarter. Commerzbank Aktiengesellschaft FI raised its position in shares of Gildan Activewear by 393.5% in the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 28,687 shares of the textile maker’s stock worth $1,110,000 after acquiring an additional 22,874 shares in the last quarter. BB&T Corp raised its position in shares of Gildan Activewear by 4.6% in the 2nd quarter. BB&T Corp now owns 24,626 shares of the textile maker’s stock worth $953,000 after acquiring an additional 1,089 shares in the last quarter. Finally, Wetherby Asset Management Inc. bought a new position in shares of Gildan Activewear in the 2nd quarter worth approximately $205,000. 66.97% of the stock is owned by institutional investors and hedge funds.

About Gildan Activewear

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.

Further Reading: Determine Your Level of Risk Tolerance

Analyst Recommendations for Gildan Activewear (NYSE:GIL)

Receive News & Ratings for Gildan Activewear Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gildan Activewear and related companies with MarketBeat.com's FREE daily email newsletter.