Gildan Activewear Inc. (GIL) Rating Lowered to Sell at Zacks Investment Research
Gildan Activewear Inc. (NYSE:GIL) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Wednesday.
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 brokerages have also recently commented on GIL. Scotiabank restated an “outperform” rating and issued a $44.00 price target on shares of Gildan Activewear in a research report on Thursday, July 28th. TD Securities restated a “buy” rating and issued a $36.00 price target on shares of Gildan Activewear in a research report on Thursday, July 28th. Raymond James Financial Inc. restated a “strong-buy” rating and issued a $35.00 price target on shares of Gildan Activewear in a research report on Thursday, July 21st. Desjardins reiterated a “buy” rating on shares of Gildan Activewear in a research report on Thursday, July 7th. Finally, RBC Capital Markets reiterated an “outperform” rating and issued a $45.00 target price on shares of Gildan Activewear in a research report on Wednesday, July 20th. One research analyst has rated the stock with a sell rating, two have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Gildan Activewear presently has an average rating of “Buy” and a consensus price target of $36.71.
Gildan Activewear (NYSE:GIL) opened at 27.75 on Wednesday. The firm’s 50-day moving average is $29.08 and its 200-day moving average is $29.70. Gildan Activewear has a 52-week low of $22.43 and a 52-week high of $32.20. The firm has a market capitalization of $6.43 billion, a P/E ratio of 19.31 and a beta of 0.95.
Gildan Activewear (NYSE:GIL) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.41 EPS for the quarter, missing the Zacks’ consensus estimate of $0.42 by $0.01. Gildan Activewear had a return on equity of 17.19% and a net margin of 13.94%. The company earned $689 million during the quarter, compared to the consensus estimate of $697.92 million. During the same quarter in the previous year, the business posted $0.42 EPS. The firm’s revenue for the quarter was down 3.5% on a year-over-year basis. On average, equities analysts expect that Gildan Activewear will post $1.53 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 6th. Shareholders of record on Thursday, August 11th were paid a $0.078 dividend. This represents a $0.31 annualized dividend and a yield of 1.12%. The ex-dividend date of this dividend was Tuesday, August 9th. Gildan Activewear’s dividend payout ratio (DPR) is presently 21.53%.
A number of institutional investors have recently modified their holdings of GIL. AGF Investments Inc. raised its position in shares of Gildan Activewear by 121.1% in the second quarter. AGF Investments Inc. now owns 6,414 shares of the company’s stock valued at $188,000 after buying an additional 3,513 shares during the period. Quantbot Technologies LP acquired a new position in shares of Gildan Activewear during the second quarter valued at about $211,000. Cipher Capital LP acquired a new position in shares of Gildan Activewear during the second quarter valued at about $244,000. NN Investment Partners Holdings N.V. acquired a new position in shares of Gildan Activewear during the first quarter valued at about $263,000. Finally, Quantitative Investment Management LLC acquired a new position in shares of Gildan Activewear during the second quarter valued at about $284,000. 72.64% of the stock is currently owned by hedge funds and other institutional investors.
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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