Gildan Activewear (NYSE:GIL) Cut to “Hold” at Zacks Research

Gildan Activewear (NYSE:GIL) (TSE:GIL) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Tuesday,Zacks.com reports.

A number of other equities research analysts have also issued reports on the company. Stifel Nicolaus set a $75.00 price target on Gildan Activewear and gave the company a “buy” rating in a research report on Friday, September 19th. Barclays reissued an “overweight” rating and set a $70.00 price target (up previously from $64.00) on shares of Gildan Activewear in a research report on Thursday, October 30th. Royal Bank Of Canada raised their price objective on shares of Gildan Activewear from $68.00 to $71.00 and gave the stock an “outperform” rating in a research report on Monday, October 27th. Weiss Ratings reiterated a “buy (b)” rating on shares of Gildan Activewear in a report on Monday. Finally, TD Securities restated a “buy” rating and set a $74.00 price target on shares of Gildan Activewear in a report on Thursday, October 30th. Twelve research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Gildan Activewear currently has a consensus rating of “Moderate Buy” and an average price target of $74.46.

Gildan Activewear Price Performance

NYSE:GIL opened at $63.12 on Tuesday. The stock has a 50 day moving average of $58.95 and a two-hundred day moving average of $55.30. Gildan Activewear has a 12 month low of $37.16 and a 12 month high of $65.43. The firm has a market cap of $11.69 billion, a P/E ratio of 20.17 and a beta of 1.12. The company has a current ratio of 2.01, a quick ratio of 0.88 and a debt-to-equity ratio of 0.94.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued its quarterly earnings results on Wednesday, October 29th. The textile maker reported $1.00 EPS for the quarter, topping the consensus estimate of $0.98 by $0.02. Gildan Activewear had a return on equity of 35.53% and a net margin of 14.13%.The firm had revenue of $910.60 million during the quarter, compared to analysts’ expectations of $925.24 million. During the same period in the previous year, the business earned $0.85 earnings per share. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. Gildan Activewear has set its FY 2025 guidance at 3.450-3.510 EPS. On average, analysts expect that Gildan Activewear will post 3.48 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Gildan Activewear

Large investors have recently added to or reduced their stakes in the business. Norges Bank purchased a new position in Gildan Activewear in the 2nd quarter valued at approximately $101,409,000. Mackenzie Financial Corp raised its stake in shares of Gildan Activewear by 61.9% in the second quarter. Mackenzie Financial Corp now owns 4,434,020 shares of the textile maker’s stock valued at $218,622,000 after acquiring an additional 1,695,329 shares in the last quarter. Lazard Asset Management LLC boosted its holdings in Gildan Activewear by 95.2% in the third quarter. Lazard Asset Management LLC now owns 2,799,309 shares of the textile maker’s stock valued at $161,749,000 after purchasing an additional 1,364,953 shares during the period. Picton Mahoney Asset Management acquired a new position in Gildan Activewear during the 2nd quarter worth $65,409,000. Finally, The Manufacturers Life Insurance Company grew its stake in Gildan Activewear by 67.2% during the 1st quarter. The Manufacturers Life Insurance Company now owns 2,959,555 shares of the textile maker’s stock worth $131,556,000 after purchasing an additional 1,189,921 shares in the last quarter. 82.83% of the stock is owned by hedge funds and other institutional investors.

About Gildan Activewear

Gildan Activewear Inc (NYSE:GIL) is a vertically integrated manufacturer and wholesaler of branded basic apparel, including activewear, socks, hosiery and underwear. Headquartered in Montreal, Quebec, the company produces a wide range of products such as T-shirts, fleece garments, sport shirts, performance wear, and shapewear under its Gildan, Anvil, Comfort Colors, Gold Toe, Peds and Silks brands. Leveraging its in-house knitting, dyeing, cut-and-sew and finishing operations, Gildan supplies blank apparel to screen printers, promotional product distributors and major retailers around the world.

Since its founding in 1984 by Glenn J.