Zacks Investment Research upgraded shares of Gildan Activewear (NYSE:GIL) (TSE:GIL) from a sell rating to a hold rating in a report published on Tuesday morning.

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. “

A number of other research analysts have also recently commented on the stock. TheStreet cut shares of Gildan Activewear from a b rating to a c+ rating in a research report on Thursday, November 1st. Raymond James reiterated a strong-buy rating and set a $40.00 price target on shares of Gildan Activewear in a research report on Friday, November 2nd. Desjardins upgraded shares of Gildan Activewear from a hold rating to a buy rating in a research report on Friday, November 2nd. ValuEngine upgraded shares of Gildan Activewear from a sell rating to a hold rating in a research report on Monday, September 17th. Finally, TD Securities increased their price objective on Gildan Activewear from $35.00 to $36.00 and gave the company a buy rating in a research note on Friday, August 3rd. Four equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of Buy and an average target price of $34.25.

NYSE GIL traded down $0.45 on Tuesday, reaching $31.64. 355,508 shares of the company’s stock traded hands, compared to its average volume of 534,247. Gildan Activewear has a 12 month low of $25.33 and a 12 month high of $34.19. The company has a debt-to-equity ratio of 0.45, a current ratio of 4.94 and a quick ratio of 1.79. The stock has a market capitalization of $6.55 billion, a P/E ratio of 18.40, a PEG ratio of 1.43 and a beta of 0.72.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued its quarterly earnings results on Thursday, November 1st. The textile maker reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.01. Gildan Activewear had a net margin of 12.28% and a return on equity of 18.80%. The business had revenue of $754.40 million for the quarter, compared to analysts’ expectations of $759.15 million. During the same period last year, the business earned $0.53 earnings per share. The business’s quarterly revenue was up 5.3% on a year-over-year basis. As a group, equities analysts expect that Gildan Activewear will post 1.86 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Thursday, November 15th will be paid a dividend of $0.085 per share. This represents a $0.34 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date of this dividend is Wednesday, November 14th. Gildan Activewear’s dividend payout ratio (DPR) is presently 26.16%.

Large investors have recently added to or reduced their stakes in the company. Global X Management Co LLC boosted its stake in shares of Gildan Activewear by 145.3% during the second quarter. Global X Management Co LLC now owns 6,390 shares of the textile maker’s stock valued at $180,000 after purchasing an additional 3,785 shares during the period. Cornerstone Wealth Management LLC purchased a new stake in shares of Gildan Activewear during the second quarter valued at approximately $250,000. Prescott Group Capital Management L.L.C. purchased a new stake in shares of Gildan Activewear during the third quarter valued at approximately $213,000. Allianz Asset Management GmbH purchased a new stake in shares of Gildan Activewear during the first quarter valued at approximately $208,000. Finally, Lester Murray Antman dba SimplyRich purchased a new stake in shares of Gildan Activewear during the second quarter valued at approximately $205,000. 70.76% of the stock is owned by hedge funds and other institutional investors.

About Gildan Activewear

Gildan Activewear Inc manufactures and sells a range of apparel products in the United States, Canada, Mexico, Europe, the Asia-Pacific, and Latin America. It operates in two segments, Printwear and Branded Apparel. 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, Smart Basics, Comfort Colors, American Apparel, Anvil, Alstyle, Gold Toe, and Mossy Oak brands.

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