Gildan Activewear (GIL) Upgraded by Desjardins to “Buy”

Gildan Activewear (NYSE:GIL) (TSE:GIL) was upgraded by equities researchers at Desjardins from a “hold” rating to a “buy” rating in a note issued to investors on Friday, The Fly reports.

Other equities analysts also recently issued reports about the stock. TheStreet upgraded shares of Gildan Activewear from a “c+” rating to a “b-” rating in a research note on Friday, August 24th. TD Securities raised their target price on shares of Gildan Activewear from $35.00 to $36.00 and gave the company a “buy” rating in a research note on Friday, August 3rd. Bank of America upgraded shares of Gildan Activewear from an “underperform” rating to a “buy” rating in a research note on Thursday, August 2nd. ValuEngine upgraded shares of Gildan Activewear from a “sell” rating to a “hold” rating in a research note on Monday, September 17th. Finally, Zacks Investment Research upgraded shares of Gildan Activewear from a “sell” rating to a “hold” rating in a research note on Tuesday, August 7th. One analyst has rated the stock with a sell rating, three have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $34.25.

NYSE GIL opened at $31.13 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.76 and a current ratio of 5.06. Gildan Activewear has a 52-week low of $25.33 and a 52-week high of $34.19. The company has a market cap of $6.45 billion, a PE ratio of 18.10, a price-to-earnings-growth ratio of 1.43 and a beta of 0.72.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last released its quarterly earnings data on Thursday, November 1st. The textile maker reported $0.57 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.01. Gildan Activewear had a net margin of 12.28% and a return on equity of 18.70%. The firm had revenue of $754.40 million for the quarter, compared to the consensus estimate of $759.15 million. During the same period last year, the firm earned $0.53 earnings per share. The company’s quarterly revenue was up 5.3% on a year-over-year basis. On average, equities analysts predict that Gildan Activewear will post 1.86 earnings per share for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the business. Global X Management Co LLC boosted its stake in Gildan Activewear by 145.3% in the second quarter. Global X Management Co LLC now owns 6,390 shares of the textile maker’s stock valued at $180,000 after acquiring an additional 3,785 shares in the last quarter. Cornerstone Wealth Management LLC acquired a new stake in Gildan Activewear in the second quarter valued at approximately $250,000. Allianz Asset Management GmbH acquired a new stake in Gildan Activewear in the first quarter valued at approximately $208,000. Lester Murray Antman dba SimplyRich acquired a new stake in Gildan Activewear in the second quarter valued at approximately $205,000. Finally, Jane Street Group LLC acquired a new stake in Gildan Activewear in the second quarter valued at approximately $221,000. Institutional investors own 70.91% of the company’s stock.

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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