Gildan Activewear Inc. (NYSE:GIL) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued 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. “
Several other analysts also recently issued reports on the stock. TD Securities reaffirmed a “buy” rating and issued a $36.00 price target on shares of Gildan Activewear in a report on Thursday, July 28th. Scotiabank reaffirmed an “outperform” rating and issued a $44.00 price target on shares of Gildan Activewear in a report on Thursday, July 28th. Desjardins reaffirmed a “buy” rating and issued a $43.00 price target on shares of Gildan Activewear in a report on Thursday, July 28th. Brean Capital reaffirmed a “hold” rating on shares of Gildan Activewear in a report on Thursday, July 28th. Finally, Raymond James Financial Inc. reaffirmed a “strong-buy” rating and issued a $35.00 price target on shares of Gildan Activewear in a report on Thursday, July 21st. One investment analyst has rated the stock with a sell rating, two have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $36.71.
Gildan Activewear (NYSE:GIL) opened at 28.17 on Wednesday. The stock has a market cap of $6.53 billion, a PE ratio of 19.60 and a beta of 0.95. Gildan Activewear has a 52-week low of $22.43 and a 52-week high of $32.20. The company’s 50 day moving average is $29.14 and its 200-day moving average is $29.72.
Gildan Activewear (NYSE:GIL) last released its quarterly earnings data on Wednesday, July 27th. The company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by $0.01. The company had revenue of $689 million for the quarter, compared to analysts’ expectations of $697.92 million. Gildan Activewear had a return on equity of 17.19% and a net margin of 13.94%. The firm’s quarterly revenue was down 3.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.42 EPS. On average, equities analysts anticipate that Gildan Activewear will post $1.53 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 6th. Investors of record on Thursday, August 11th were given a dividend of $0.078 per share. This represents a $0.31 annualized dividend and a yield of 1.11%. The ex-dividend date of this dividend was Tuesday, August 9th. Gildan Activewear’s dividend payout ratio (DPR) is 21.53%.
A number of institutional investors have recently modified their holdings of the company. AGF Investments Inc. raised its stake in 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 last quarter. Quantbot Technologies LP acquired a new stake in Gildan Activewear during the second quarter valued at about $211,000. Cipher Capital LP acquired a new stake in Gildan Activewear during the second quarter valued at about $244,000. NN Investment Partners Holdings N.V. acquired a new stake in Gildan Activewear during the first quarter valued at about $263,000. Finally, New England Research & Management Inc. acquired a new stake in Gildan Activewear during the second quarter valued at about $285,000. 72.64% of the stock is owned by hedge funds and other institutional investors.
About Gildan Activewear
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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