Gildan Activewear Inc (NYSE:GIL) Receives $30.25 Consensus Price Target from Analysts

Shares of Gildan Activewear Inc (NYSE:GIL) (TSE:GIL) have received a consensus recommendation of “Hold” from the fourteen research firms that are covering the stock, Marketbeat reports. Two 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. The average 12-month target price among brokers that have issued a report on the stock in the last year is $29.56.

Several brokerages have recently issued reports on GIL. Citigroup reduced their price target on Gildan Activewear from $40.00 to $24.00 and set a “neutral” rating for the company in a report on Monday. Zacks Investment Research lowered Gildan Activewear from a “hold” rating to a “sell” rating in a report on Tuesday. BMO Capital Markets reduced their price target on Gildan Activewear from $41.00 to $31.00 and set a “market perform” rating for the company in a report on Friday, October 18th. CIBC set a $30.00 price target on Gildan Activewear and gave the company a “hold” rating in a report on Thursday, October 17th. Finally, Royal Bank of Canada reduced their price target on Gildan Activewear from $36.00 to $30.00 and set a “sector perform” rating for the company in a report on Friday, October 18th.

NYSE GIL traded down $0.40 during trading on Monday, reaching $26.42. 1,057,300 shares of the company’s stock were exchanged, compared to its average volume of 583,865. Gildan Activewear has a fifty-two week low of $23.45 and a fifty-two week high of $40.40. The firm has a market capitalization of $5.66 billion, a PE ratio of 14.20, a P/E/G ratio of 2.39 and a beta of 0.85. The company has a current ratio of 4.33, a quick ratio of 1.68 and a debt-to-equity ratio of 0.55. The company’s fifty day simple moving average is $34.75 and its 200-day simple moving average is $36.96.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last announced its quarterly earnings data on Thursday, August 1st. The textile maker reported $0.57 EPS for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.02. Gildan Activewear had a return on equity of 18.48% and a net margin of 10.14%. The firm had revenue of $801.60 million during the quarter, compared to analyst estimates of $793.91 million. During the same period last year, the company posted $0.52 EPS. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. Equities analysts forecast that Gildan Activewear will post 1.66 EPS for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Commonwealth Bank of Australia increased its position in Gildan Activewear by 28.1% in the 2nd quarter. Commonwealth Bank of Australia now owns 2,595 shares of the textile maker’s stock worth $99,000 after buying an additional 569 shares during the period. Neuburgh Advisers LLC increased its position in Gildan Activewear by 11.4% in the 2nd quarter. Neuburgh Advisers LLC now owns 3,744 shares of the textile maker’s stock worth $139,000 after buying an additional 384 shares during the period. Tower Research Capital LLC TRC increased its position in shares of Gildan Activewear by 997.0% during the second quarter. Tower Research Capital LLC TRC now owns 3,598 shares of the textile maker’s stock valued at $140,000 after purchasing an additional 3,270 shares during the period. Glen Harbor Capital Management LLC increased its position in shares of Gildan Activewear by 11.4% during the second quarter. Glen Harbor Capital Management LLC now owns 5,148 shares of the textile maker’s stock valued at $191,000 after purchasing an additional 528 shares during the period. Finally, Jane Street Group LLC bought a new stake in shares of Gildan Activewear during the second quarter valued at approximately $201,000. Hedge funds and other institutional investors own 66.97% of the company’s stock.

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.

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Analyst Recommendations for Gildan Activewear (NYSE:GIL)

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