Gildan Activewear (NYSE:GIL) Stock Rating Lowered by Zacks Research

Gildan Activewear (NYSE:GIL) (TSE:GIL) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Monday,Zacks.com reports.

Several other research analysts have also weighed in on the company. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $79.00 price target (up from $71.00) on shares of Gildan Activewear in a research report on Tuesday. UBS Group reiterated a “buy” rating and issued a $110.00 price target (up from $80.00) on shares of Gildan Activewear in a research note on Tuesday, December 16th. Barclays restated an “overweight” rating and issued a $70.00 price target (up from $64.00) on shares of Gildan Activewear in a research note on Thursday, October 30th. National Bank Financial boosted their price objective on shares of Gildan Activewear from $92.00 to $97.00 and gave the company an “outperform” rating in a report on Monday, February 2nd. Finally, TD Securities restated a “buy” rating and issued a $77.00 price target on shares of Gildan Activewear in a research report on Tuesday, January 27th. Thirteen analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $80.00.

Gildan Activewear Trading Up 1.8%

Shares of NYSE GIL opened at $71.99 on Monday. The company has a quick ratio of 0.88, a current ratio of 2.01 and a debt-to-equity ratio of 0.94. Gildan Activewear has a twelve month low of $37.16 and a twelve month high of $73.69. The company’s fifty day moving average is $66.31 and its 200-day moving average is $60.47. The stock has a market cap of $13.33 billion, a price-to-earnings ratio of 23.00 and a beta of 1.08.

Hedge Funds Weigh In On Gildan Activewear

Several institutional investors have recently bought and sold shares of GIL. MidFirst Bank purchased a new stake in Gildan Activewear in the 4th quarter worth approximately $379,000. Invesco Ltd. grew its position in Gildan Activewear by 6.0% in the fourth quarter. Invesco Ltd. now owns 216,434 shares of the textile maker’s stock worth $13,518,000 after acquiring an additional 12,261 shares in the last quarter. Alberta Investment Management Corp lifted its stake in Gildan Activewear by 1.7% during the fourth quarter. Alberta Investment Management Corp now owns 1,116,596 shares of the textile maker’s stock worth $69,793,000 after purchasing an additional 18,900 shares during the last quarter. Mercer Global Advisors Inc. ADV purchased a new position in shares of Gildan Activewear during the fourth quarter worth approximately $383,000. Finally, State of Tennessee Department of Treasury increased its holdings in shares of Gildan Activewear by 8.8% in the fourth quarter. State of Tennessee Department of Treasury now owns 89,766 shares of the textile maker’s stock worth $5,865,000 after buying an additional 7,274 shares during the period. Hedge funds and other institutional investors own 82.83% of the company’s stock.

Gildan Activewear Company Profile

Gildan Activewear Inc (NYSE:GIL) is a vertically integrated manufacturer and wholesaler of branded basic apparel, including activewear, socks, hosiery and underwear. Headquartered in Montreal, Quebec, the company produces a wide range of products such as T-shirts, fleece garments, sport shirts, performance wear, and shapewear under its Gildan, Anvil, Comfort Colors, Gold Toe, Peds and Silks brands. Leveraging its in-house knitting, dyeing, cut-and-sew and finishing operations, Gildan supplies blank apparel to screen printers, promotional product distributors and major retailers around the world.

Since its founding in 1984 by Glenn J.