Gildan Activewear (NYSE:GIL) Downgraded by Canaccord Genuity Group to Hold

Key Points

• Canaccord Genuity downgraded Gildan Activewear from Buy to Hold and cut its price target from $62 to $41, which still implies about 16% upside from the previous close.
• Gildan reported quarterly EPS of $1.54, missing analysts’ $1.57 consensus; analysts expect full-year EPS of $4.63.
• Analyst sentiment overall remains a “Moderate Buy,” with nine Buy ratings and six Hold ratings and a consensus price target of $59.42.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL was downgraded by equities researchers at Canaccord Genuity Group from a "buy" rating to a "hold" rating in a research note issued on Friday, Benzinga reports. They presently have a $41.00 price target on the textile maker's stock, down from their prior price target of $62.00. Canaccord Genuity Group's price target indicates a potential upside of 16.13% from the stock's previous close.

Several other analysts have also recently commented on the company. BMO Capital Markets set a $64.00 price target on Gildan Activewear and gave the company an "outperform" rating in a report on Monday, October 26th. Royal Bank Of Canada cut their price objective on shares of Gildan Activewear from $70.00 to $50.00 and set an "outperform" rating on the stock in a report on Friday. TD Cowen reiterated a "buy" rating on shares of Gildan Activewear in a report on Friday. Stifel Nicolaus set a $83.00 target price on shares of Gildan Activewear and gave the stock a "buy" rating in a research report on Friday, July 31st. Finally, TD lowered their target price on shares of Gildan Activewear from $80.00 to $54.00 and set a "buy" rating for the company in a report on Thursday, September 24th. Nine investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $59.42.

Gildan Activewear Trading Up 0.8%

Shares of Gildan Activewear stock traded up $0.28 during trading hours on Friday, reaching $35.30. 1,658,915 shares of the company's stock were exchanged, compared to its average volume of 1,481,228. Gildan Activewear has a 52-week low of $31.33 and a 52-week high of $73.69. The firm has a market capitalization of $6.54 billion, a price-to-earnings ratio of 67.84 and a beta of 1.15. The company has a fifty day moving average of $44.21 and a 200-day moving average of $55.31. The company has a current ratio of 1.93, a quick ratio of 1.01 and a debt-to-equity ratio of 1.15.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last announced its quarterly earnings data on Thursday, November 5th. The textile maker reported $1.54 EPS for the quarter, missing analysts' consensus estimates of $1.57 by ($0.03). Gildan Activewear had a net margin of 1.28% and a return on equity of 21.03%. Sell-side analysts forecast that Gildan Activewear will post 4.63 EPS for the current fiscal year.

Hedge Funds Weigh In On Gildan Activewear

A number of large investors have recently modified their holdings of the company. Hara Capital LLC bought a new position in shares of Gildan Activewear during the second quarter worth about $57,000. Fifth Third Bancorp lifted its holdings in Gildan Activewear by 16.5% during the 1st quarter. Fifth Third Bancorp now owns 1,355 shares of the textile maker's stock worth $75,000 after buying an additional 192 shares during the last quarter. Global Retirement Partners LLC bought a new position in Gildan Activewear during the 2nd quarter worth approximately $75,000. Guardian Partners Inc. grew its position in shares of Gildan Activewear by 56.9% in the 3rd quarter. Guardian Partners Inc. now owns 1,785 shares of the textile maker's stock worth $76,000 after acquiring an additional 647 shares in the last quarter. Finally, Fulcrum Asset Management LLP bought a new stake in shares of Gildan Activewear in the 3rd quarter valued at approximately $80,000. 82.83% of the stock is currently owned by hedge funds and other institutional investors.

Key Gildan Activewear News

Here are the key news stories impacting Gildan Activewear this week:

• Positive Sentiment: Gildan declared a quarterly dividend of $0.249 per share, payable December 21, equivalent to about $1.00 annually and a 2.9% yield. Dividend announcement
• Neutral Sentiment: Third-quarter sales from continuing operations rose 61.1% year over year to $1.47 billion, and operating margin was 24.1% (27.0% adjusted). However, EPS of $1.54 fell short of the $1.57 consensus, and revenue also missed estimates; the company updated its 2026 guidance. Third-quarter results and guidance
• Negative Sentiment: Scotiabank lowered its rating to “sector perform” from “sector outperform” and cut its price target to $39 from $53. Canaccord Genuity also downgraded GIL to Hold from Buy, adding to cautious analyst sentiment. Canaccord downgrade
• Negative Sentiment: Multiple law firms publicized a securities class action covering purchases from February 19, 2025, through June 15, 2026, with a December 14 lead-plaintiff deadline. The suit alleges material misstatements or omissions, including a claim of channel stuffing and roughly $500 million in pulled-forward sales. The allegations are not proven, but the litigation creates added uncertainty and potential legal and reputational risk. Class action lawsuit notice

About Gildan Activewear

Gildan Activewear Inc is a Montreal, Quebec-based apparel manufacturer that produces and sells everyday basic clothing for consumers and businesses. The company's product portfolio includes activewear, T-shirts, fleece garments, underwear, socks and hosiery, as well as other apparel basics.

Gildan sells products primarily through wholesale distributors and screen printers, who supply decorated apparel to businesses, schools, teams, organizations and retailers. Its portfolio includes the Gildan, American Apparel, Comfort Colors, Gold Toe and Anvil brands.

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