Gildan Activewear’s (GIL) “Outperform” Rating Reaffirmed at RBC Capital Markets
RBC Capital Markets restated their outperform rating on shares of Gildan Activewear Inc. (NYSE:GIL) in a research report sent to investors on Monday morning. They currently have a $44.50 price objective on the stock.
Several other research analysts also recently commented on the stock. Zacks Investment Research downgraded shares of Gildan Activewear from a hold rating to a sell rating in a research note on Wednesday, September 28th. TD Securities reaffirmed a buy rating and issued a $36.00 price target on shares of Gildan Activewear in a research note on Thursday, July 28th. Scotiabank reaffirmed an outperform rating and issued a $44.00 price target on shares of Gildan Activewear in a research note on Thursday, July 28th. Desjardins reaffirmed a buy rating and issued a $43.00 price target on shares of Gildan Activewear in a research note on Thursday, July 28th. Finally, Brean Capital reaffirmed a hold rating on shares of Gildan Activewear in a research note on Thursday, July 28th. One analyst has rated the stock with a sell rating, two have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of Buy and a consensus target price of $36.68.
Shares of Gildan Activewear (NYSE:GIL) traded up 0.67% on Monday, reaching $27.11. 42,345 shares of the company’s stock traded hands. The company has a market cap of $6.28 billion, a PE ratio of 18.87 and a beta of 0.99. The stock has a 50-day moving average price of $28.26 and a 200-day moving average price of $29.50. Gildan Activewear has a 12-month low of $22.43 and a 12-month high of $32.20.
Gildan Activewear (NYSE:GIL) last announced its earnings results on Wednesday, July 27th. The company reported $0.41 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.42 by $0.01. Gildan Activewear had a net margin of 13.94% and a return on equity of 17.19%. The firm earned $689 million during the quarter, compared to analysts’ expectations of $697.92 million. During the same period in the prior year, the company posted $0.42 EPS. The company’s revenue was down 3.5% compared to the same quarter last year. Equities research analysts anticipate that Gildan Activewear will post $1.53 EPS for the current fiscal year.
A number of hedge funds have recently added to or reduced their stakes in the company. CIBC World Markets Inc. boosted its stake in Gildan Activewear by 10.3% in the second quarter. CIBC World Markets Inc. now owns 282,437 shares of the company’s stock worth $8,284,000 after buying an additional 26,293 shares during the period. NN Investment Partners Holdings N.V. boosted its stake in Gildan Activewear by 7.0% in the second quarter. NN Investment Partners Holdings N.V. now owns 9,230 shares of the company’s stock worth $271,000 after buying an additional 600 shares during the period. Daiwa SB Investments Ltd. bought a new stake in Gildan Activewear during the second quarter worth approximately $1,205,000. New England Research & Management Inc. bought a new stake in Gildan Activewear during the second quarter worth approximately $285,000. Finally, Skyline Asset Management LP boosted its stake in Gildan Activewear by 3.9% in the first quarter. Skyline Asset Management LP now owns 492,000 shares of the company’s stock worth $15,011,000 after buying an additional 18,400 shares during the period. Institutional investors own 72.64% of the company’s stock.
Gildan Activewear Company Profile
Gildan Activewear Inc is a manufacturer and marketer of branded basic family apparel. The Company’s segments include Printwear and Branded Apparel. It offers T-shirts, fleece, sport shirts, underwear, socks, hosiery and shapewear. It markets its products through approximately two main distribution channels.
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