Gildan Activewear, Inc. (NYSE:GIL) Downgraded by Royal Bank Of Canada
Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) was downgraded by investment analysts at Royal Bank Of Canada from an “outperform” rating to a “sector perform” rating in a report issued on Tuesday, July 11th, MarketBeat Ratings reports. They currently have a $31.00 target price on the textile maker’s stock. Royal Bank Of Canada’s price target would indicate a potential upside of 3.37% from the stock’s previous close.
GIL has been the topic of a number of other research reports. Zacks Investment Research cut Gildan Activewear from a “buy” rating to a “hold” rating in a research note on Friday, June 16th. Canaccord Genuity set a $32.00 price objective on Gildan Activewear and gave the stock a “buy” rating in a research note on Friday, July 7th. TD Securities reiterated a “buy” rating and set a $31.00 price objective on shares of Gildan Activewear in a research note on Thursday, April 27th. Finally, CIBC upgraded Gildan Activewear from a “sector perform” rating to a “sector outperform” rating in a research note on Wednesday, June 28th. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $35.14.
Gildan Activewear (NYSE GIL) opened at 29.99 on Tuesday. The company has a market cap of $6.75 billion, a price-to-earnings ratio of 19.04 and a beta of 0.72. The stock has a 50 day moving average of $30.59 and a 200-day moving average of $27.74. Gildan Activewear has a 52-week low of $23.55 and a 52-week high of $31.83.
Gildan Activewear (NYSE:GIL) (TSE:GIL) last announced its quarterly earnings data on Thursday, August 3rd. The textile maker reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.01. Gildan Activewear had a return on equity of 18.63% and a net margin of 14.16%. The company had revenue of $715.40 million for the quarter, compared to analysts’ expectations of $753.85 million. During the same quarter in the prior year, the business posted $0.41 EPS. The business’s revenue was up 3.8% compared to the same quarter last year. On average, analysts forecast that Gildan Activewear will post $1.69 EPS for the current year.
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Large investors have recently bought and sold shares of the stock. US Bancorp DE boosted its stake in Gildan Activewear by 24.2% in the first quarter. US Bancorp DE now owns 3,718 shares of the textile maker’s stock worth $101,000 after buying an additional 725 shares during the period. DekaBank Deutsche Girozentrale boosted its stake in Gildan Activewear by 133.7% in the second quarter. DekaBank Deutsche Girozentrale now owns 3,475 shares of the textile maker’s stock worth $106,000 after buying an additional 1,988 shares during the period. PNC Financial Services Group Inc. boosted its stake in Gildan Activewear by 43.2% in the first quarter. PNC Financial Services Group Inc. now owns 3,968 shares of the textile maker’s stock worth $107,000 after buying an additional 1,198 shares during the period. Global X Management Co. LLC boosted its stake in Gildan Activewear by 33.1% in the second quarter. Global X Management Co. LLC now owns 3,591 shares of the textile maker’s stock worth $110,000 after buying an additional 893 shares during the period. Finally, Chevy Chase Trust Holdings Inc. acquired a new stake in Gildan Activewear during the second quarter worth $209,000. Institutional investors and hedge funds own 77.22% of the company’s stock.
About Gildan Activewear
Gildan Activewear Inc is a manufacturer and marketer of branded basic family apparel, including T-shirts, fleece, sport shirts, underwear, socks, hosiery and shapewear. The Company operates through two segments: Printwear and Branded Apparel. The Printwear segment designs, manufactures, sources, markets, and distributes undecorated activewear products.
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