Gildan Activewear (NYSE:GIL) Raised to Strong-Buy at Zacks Research

Gildan Activewear (NYSE:GIL) (TSE:GIL) was upgraded by research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Other equities analysts have also recently issued reports about the stock. Royal Bank Of Canada upped their price target on shares of Gildan Activewear from $68.00 to $71.00 and gave the company an “outperform” rating in a research report on Monday, October 27th. Wall Street Zen lowered shares of Gildan Activewear from a “buy” rating to a “hold” rating in a report on Saturday, September 6th. UBS Group set a $80.00 price objective on shares of Gildan Activewear and gave the stock a “buy” rating in a research note on Friday, October 31st. National Bankshares reaffirmed an “outperform” rating on shares of Gildan Activewear in a research report on Thursday, October 23rd. Finally, Cfra Research upgraded Gildan Activewear to a “hold” rating in a research report on Monday, August 4th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $72.15.

Gildan Activewear Price Performance

Gildan Activewear stock opened at $57.18 on Monday. The stock has a 50-day moving average price of $58.36 and a two-hundred day moving average price of $53.66. Gildan Activewear has a 12 month low of $37.16 and a 12 month high of $62.56. The company has a market capitalization of $8.52 billion, a PE ratio of 18.27, a P/E/G ratio of 1.93 and a beta of 1.22. The company has a current ratio of 3.87, a quick ratio of 1.67 and a debt-to-equity ratio of 1.37.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last released its quarterly earnings results on Wednesday, October 29th. The textile maker reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.02. Gildan Activewear had a return on equity of 35.90% and a net margin of 14.13%.The company had revenue of $910.60 million for the quarter, compared to analysts’ expectations of $925.24 million. During the same period in the previous year, the business posted $0.85 earnings per share. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. Gildan Activewear has set its FY 2025 guidance at 3.450-3.510 EPS. Analysts expect that Gildan Activewear will post 3.48 EPS for the current year.

Institutional Trading of Gildan Activewear

Hedge funds have recently modified their holdings of the stock. Brown Brothers Harriman & Co. boosted its stake in Gildan Activewear by 867.9% during the third quarter. Brown Brothers Harriman & Co. now owns 513 shares of the textile maker’s stock worth $30,000 after acquiring an additional 460 shares in the last quarter. Maseco LLP acquired a new position in shares of Gildan Activewear during the second quarter valued at about $26,000. CIBC Private Wealth Group LLC raised its holdings in shares of Gildan Activewear by 169.0% during the third quarter. CIBC Private Wealth Group LLC now owns 538 shares of the textile maker’s stock valued at $31,000 after purchasing an additional 338 shares during the period. Smartleaf Asset Management LLC boosted its position in shares of Gildan Activewear by 161.8% during the 2nd quarter. Smartleaf Asset Management LLC now owns 555 shares of the textile maker’s stock worth $27,000 after purchasing an additional 343 shares in the last quarter. Finally, Advisory Services Network LLC acquired a new stake in shares of Gildan Activewear in the 3rd quarter valued at about $36,000. Institutional investors own 82.83% of the company’s stock.

About Gildan Activewear

Gildan Activewear Inc manufactures and sells various apparel products in the United States, North America, Europe, Asia-Pacific, and Latin America. It provides various activewear products, including T-shirts, fleece tops and bottoms, and sports shirts under the Gildan, Gildan Performance, Gildan Hammer, Glidan Softstyle, Gildan Heavy Cotton, Gildan Ultra Cotton, Gildan DryBlend, Gildan HeavyBlend, Comfort Colors, and American Apparel brands.