UBS Group upgraded shares of Gildan Activewear (NYSE:GIL) (TSE:GIL) from a neutral rating to a buy rating in a research report report published on Wednesday, Analyst Ratings Network reports.

A number of other research analysts have also recently issued reports on GIL. TD Securities cut Gildan Activewear from an action list buy rating to a buy rating and lifted their price target for the company from $33.00 to $36.00 in a report on Monday, March 1st. Desjardins lifted their price objective on Gildan Activewear from $40.00 to $45.00 and gave the stock a buy rating in a research report on Monday, March 1st. Zacks Investment Research raised shares of Gildan Activewear from a hold rating to a buy rating and set a $31.00 price target for the company in a research note on Wednesday, February 17th. Finally, Royal Bank of Canada raised their price objective on shares of Gildan Activewear from $31.00 to $33.00 and gave the company an outperform rating in a research note on Friday, February 26th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. The company has an average rating of Buy and an average target price of $28.50.

Shares of GIL opened at $33.06 on Wednesday. The stock has a 50 day simple moving average of $30.16 and a 200-day simple moving average of $26.32. Gildan Activewear has a 1 year low of $11.95 and a 1 year high of $33.39. The stock has a market cap of $6.56 billion, a PE ratio of -25.05, a PEG ratio of 3.72 and a beta of 1.57. The company has a current ratio of 3.91, a quick ratio of 1.36 and a debt-to-equity ratio of 0.72.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last announced its quarterly earnings results on Wednesday, February 24th. The textile maker reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.23. The firm had revenue of $690.20 million during the quarter, compared to the consensus estimate of $615.69 million. Gildan Activewear had a negative net margin of 13.34% and a negative return on equity of 2.69%. The firm’s quarterly revenue was up 4.8% on a year-over-year basis. During the same period last year, the firm posted $0.41 EPS. On average, sell-side analysts forecast that Gildan Activewear will post -0.44 EPS for the current fiscal year.

A number of institutional investors have recently made changes to their positions in GIL. US Bancorp DE lifted its position in Gildan Activewear by 142.3% during the 4th quarter. US Bancorp DE now owns 5,899 shares of the textile maker’s stock worth $165,000 after buying an additional 3,464 shares in the last quarter. Price T Rowe Associates Inc. MD acquired a new stake in Gildan Activewear in the fourth quarter valued at $207,000. ExodusPoint Capital Management LP bought a new position in shares of Gildan Activewear in the 3rd quarter valued at about $231,000. Wetherby Asset Management Inc. acquired a new position in shares of Gildan Activewear during the 4th quarter worth about $259,000. Finally, Squarepoint Ops LLC bought a new stake in shares of Gildan Activewear in the 3rd quarter valued at about $328,000. 75.95% of the stock is currently owned by institutional investors and hedge funds.

About Gildan Activewear

Gildan Activewear Inc manufactures and sells various apparel products in the United States, Canada, and internationally. It provides various activewear products, including T-shirts, fleece tops and bottoms, and sport shirts under the Gildan, Gildan Performance, Gildan Hammer, Comfort Colors, American Apparel, Anvil by Gildan, Alstyle, Prim + Preux, and GoldToe brands.

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Analyst Recommendations for Gildan Activewear (NYSE:GIL)

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