Gildan Activewear, Inc. (GIL) Given “Buy” Rating at BMO Capital Markets
Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL)‘s stock had its “buy” rating restated by investment analysts at BMO Capital Markets in a note issued to investors on Friday. They presently have a $34.00 price objective on the textile maker’s stock. BMO Capital Markets’ price objective indicates a potential upside of 7.32% from the stock’s previous close.
Several other analysts have also commented on GIL. CIBC upgraded shares of Gildan Activewear from a “sector perform” rating to a “sector outperform” rating in a report on Wednesday, June 28th. Zacks Investment Research lowered shares of Gildan Activewear from a “buy” rating to a “hold” rating in a report on Tuesday, July 4th. Canaccord Genuity set a $32.00 price objective on shares of Gildan Activewear and gave the stock a “buy” rating in a report on Friday, July 7th. Royal Bank Of Canada lowered shares of Gildan Activewear from an “outperform” rating to a “sector perform” rating and set a $31.00 price objective for the company. in a report on Tuesday, July 11th. Finally, National Bank Financial lowered shares of Gildan Activewear from an “outperform” rating to a “sector perform” rating in a report on Friday, August 4th. Seven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $35.14.
Shares of Gildan Activewear (NYSE GIL) traded up 0.96% on Friday, hitting $31.68. The stock had a trading volume of 246,725 shares. Gildan Activewear has a 1-year low of $23.55 and a 1-year high of $31.87. The firm has a market capitalization of $7.11 billion, a price-to-earnings ratio of 19.18 and a beta of 0.69. The firm has a 50 day moving average of $31.11 and a 200-day moving average of $29.83.
Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued its quarterly earnings data on Thursday, August 3rd. The textile maker reported $0.49 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.01. Gildan Activewear had a net margin of 14.16% and a return on equity of 18.65%. The business had revenue of $715.40 million during the quarter, compared to analyst estimates of $753.85 million. During the same period last year, the business posted $0.41 earnings per share. Gildan Activewear’s quarterly revenue was up 3.8% compared to the same quarter last year. Equities analysts predict that Gildan Activewear will post $1.70 earnings per share for the current year.
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A number of hedge funds have recently made changes to their positions in the business. Comerica Bank lifted its stake in Gildan Activewear by 1.2% in the 1st quarter. Comerica Bank now owns 13,687 shares of the textile maker’s stock worth $384,000 after purchasing an additional 164 shares in the last quarter. Commonwealth Bank of Australia lifted its stake in Gildan Activewear by 9.7% in the 2nd quarter. Commonwealth Bank of Australia now owns 3,414 shares of the textile maker’s stock worth $103,000 after purchasing an additional 303 shares in the last quarter. US Bancorp DE lifted its stake in Gildan Activewear by 24.2% in the 1st quarter. US Bancorp DE now owns 3,718 shares of the textile maker’s stock worth $101,000 after purchasing an additional 725 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in Gildan Activewear by 19.3% in the 2nd quarter. PNC Financial Services Group Inc. now owns 4,733 shares of the textile maker’s stock worth $146,000 after purchasing an additional 765 shares in the last quarter. Finally, Global X Management Co. LLC lifted its stake in Gildan Activewear by 33.1% in the 2nd quarter. Global X Management Co. LLC now owns 3,591 shares of the textile maker’s stock worth $110,000 after purchasing an additional 893 shares in the last quarter. Institutional investors and hedge funds own 72.55% 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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