Gildan Activewear (NYSE:GIL) Upgraded to Hold at Cfra Research

Key Points

• Gildan Activewear has been upgraded to a "hold" rating by Cfra Research, with a consensus rating of "Moderate Buy" from analysts.
• Several financial institutions raised their price targets for Gildan Activewear, with UBS Group increasing it to $70.00 and National Bankshares to $80.00.
• The company reported earnings per share of $0.97 for the last quarter, surpassing expectations and indicating a year-over-year revenue increase of 6.5%.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL was upgraded by equities research analysts at Cfra Research to a "hold" rating in a report released on Monday,Zacks.com reports.

Several other research firms have also issued reports on GIL. Scotiabank upped their target price on Gildan Activewear from $55.00 to $59.00 and gave the company a "sector outperform" rating in a report on Friday, August 1st. Barclays increased their price objective on Gildan Activewear from $51.00 to $56.00 and gave the company an "overweight" rating in a report on Friday, August 1st. TD Securities increased their price objective on Gildan Activewear from $56.00 to $60.00 and gave the company a "buy" rating in a report on Wednesday, April 30th. UBS Group increased their price objective on Gildan Activewear from $56.00 to $70.00 and gave the company a "buy" rating in a report on Tuesday, July 29th. Finally, National Bankshares increased their price objective on Gildan Activewear from $78.00 to $80.00 and gave the company an "outperform" rating in a report on Friday, August 1st. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $62.33.

Gildan Activewear Stock Performance

GIL stock opened at $52.83 on Monday. The firm has a market cap of $7.92 billion, a PE ratio of 16.77, a P/E/G ratio of 1.68 and a beta of 1.17. The company has a quick ratio of 1.67, a current ratio of 3.87 and a debt-to-equity ratio of 1.37. The business has a 50 day moving average of $49.60 and a 200-day moving average of $48.29. Gildan Activewear has a 12-month low of $37.16 and a 12-month high of $55.39.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last released its earnings results on Thursday, July 31st. The textile maker reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.01. The company had revenue of $918.50 million during the quarter, compared to analyst estimates of $908.41 million. Gildan Activewear had a return on equity of 34.31% and a net margin of 14.55%. Gildan Activewear's quarterly revenue was up 6.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.74 earnings per share. As a group, sell-side analysts expect that Gildan Activewear will post 3.48 earnings per share for the current year.

Institutional Investors Weigh In On Gildan Activewear

A number of institutional investors and hedge funds have recently made changes to their positions in GIL. Maseco LLP purchased a new stake in shares of Gildan Activewear in the second quarter worth $26,000. Olde Wealth Management LLC bought a new position in Gildan Activewear in the first quarter valued at $29,000. Twin Tree Management LP bought a new position in Gildan Activewear in the first quarter valued at $29,000. Versant Capital Management Inc increased its stake in Gildan Activewear by 510.7% in the first quarter. Versant Capital Management Inc now owns 745 shares of the textile maker's stock valued at $33,000 after acquiring an additional 623 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in Gildan Activewear by 4,323.5% in the first quarter. GAMMA Investing LLC now owns 752 shares of the textile maker's stock valued at $33,000 after acquiring an additional 735 shares during the last quarter. Hedge funds and other institutional investors own 82.83% of the company's stock.

About Gildan Activewear

Gildan Activewear Inc manufactures and sells various apparel products in the United States, North America, Europe, Asia-Pacific, and Latin America. It provides various activewear products, including T-shirts, fleece tops and bottoms, and sports shirts under the Gildan, Gildan Performance, Gildan Hammer, Glidan Softstyle, Gildan Heavy Cotton, Gildan Ultra Cotton, Gildan DryBlend, Gildan HeavyBlend, Comfort Colors, and American Apparel brands.

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