Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) was downgraded by National Bank Financial from an “outperform” rating to a “sector perform” rating in a report released on Friday, August 4th, MarketBeat reports. National Bank Financial also issued estimates for Gildan Activewear’s Q2 2017 earnings at $0.47 EPS, FY2017 earnings at $1.69 EPS, Q2 2018 earnings at $0.51 EPS and FY2018 earnings at $1.83 EPS.
A number of other research analysts have also recently commented on the company. BMO Capital Markets reiterated a “buy” rating and issued a $34.00 price objective (up from $32.00) on shares of Gildan Activewear in a report on Friday, August 4th. Zacks Investment Research upgraded Gildan Activewear from a “hold” rating to a “buy” rating and set a $34.00 price objective on the stock in a report on Wednesday, August 2nd. Canaccord Genuity cut Gildan Activewear from a “buy” rating to a “hold” rating and set a $32.00 price objective on the stock. in a report on Wednesday, July 12th. Royal Bank Of Canada lowered Gildan Activewear from an “outperform” rating to a “sector perform” rating and set a $31.00 target price on the stock. in a research report on Tuesday, July 11th. Finally, CIBC raised Gildan Activewear from a “sector perform” rating to a “sector outperform” rating in a research report on Wednesday, June 28th. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Gildan Activewear has a consensus rating of “Hold” and a consensus target price of $35.14.
Shares of Gildan Activewear (NYSE GIL) traded down 1.32% during midday trading on Friday, reaching $29.87. The company’s stock had a trading volume of 214,479 shares. Gildan Activewear has a one year low of $23.55 and a one year high of $31.83. The firm has a market cap of $6.70 billion, a price-to-earnings ratio of 18.08 and a beta of 0.72. The stock’s 50 day moving average price is $30.34 and its 200 day moving average price is $28.15.
Gildan Activewear (NYSE:GIL) (TSE:GIL) last released its quarterly earnings data on Thursday, August 3rd. The textile maker reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.01. Gildan Activewear had a return on equity of 18.65% and a net margin of 14.16%. The firm had revenue of $715.40 million for the quarter, compared to analysts’ expectations of $753.85 million. During the same period in the prior year, the firm posted $0.41 earnings per share. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. Analysts predict that Gildan Activewear will post $1.70 earnings per share for the current year.
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Hedge funds have recently bought and sold shares of the company. US Bancorp DE raised 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 in the last quarter. Commonwealth Bank of Australia increased its position in shares of Gildan Activewear by 9.7% in the second quarter. Commonwealth Bank of Australia now owns 3,414 shares of the textile maker’s stock worth $103,000 after buying an additional 303 shares during the last quarter. DekaBank Deutsche Girozentrale increased its position in shares of 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 last quarter. PNC Financial Services Group Inc. increased its position in shares of 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 last quarter. Finally, Global X Management Co. LLC increased its position in shares of 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 last quarter. 75.67% of the stock is currently owned by institutional investors and hedge funds.
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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