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

Gildan Activewear (NYSE:GIL) (TSE:GIL) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Tuesday,Zacks.com reports.

Several other research analysts have also issued reports on GIL. UBS Group reaffirmed a “buy” rating and set a $110.00 target price (up from $80.00) on shares of Gildan Activewear in a research report on Tuesday, December 16th. Desjardins raised their target price on shares of Gildan Activewear from $80.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, October 27th. TD Cowen boosted their price target on Gildan Activewear from $67.00 to $73.00 and gave the company a “buy” rating in a report on Monday, October 6th. Scotiabank set a $66.00 price objective on shares of Gildan Activewear and gave the stock an “outperform” rating in a research report on Thursday, October 30th. Finally, Royal Bank Of Canada increased their target price on Gildan Activewear from $68.00 to $71.00 and gave the company an “outperform” rating in a research report on Monday, October 27th. Twelve equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Gildan Activewear presently has an average rating of “Moderate Buy” and a consensus target price of $74.46.

Gildan Activewear Stock Performance

Shares of GIL stock opened at $63.12 on Tuesday. Gildan Activewear has a 52-week low of $37.16 and a 52-week high of $65.43. The company’s 50 day moving average is $58.95 and its 200 day moving average is $55.30. The firm has a market cap of $11.69 billion, a price-to-earnings ratio of 20.17 and a beta of 1.12. 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 (NYSE:GIL) (TSE:GIL) last released its quarterly earnings results on Wednesday, October 29th. The textile maker reported $1.00 EPS for the quarter, topping the consensus estimate of $0.98 by $0.02. The firm had revenue of $910.60 million during the quarter, compared to analyst estimates of $925.24 million. Gildan Activewear had a return on equity of 35.53% and a net margin of 14.13%.The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.85 EPS. Gildan Activewear has set its FY 2025 guidance at 3.450-3.510 EPS. On average, sell-side analysts anticipate that Gildan Activewear will post 3.48 EPS for the current fiscal year.

Institutional Trading of Gildan Activewear

A number of hedge funds have recently bought and sold shares of the business. Norges Bank acquired a new position in shares of Gildan Activewear during the 2nd quarter worth approximately $101,409,000. Mackenzie Financial Corp lifted its position in Gildan Activewear by 61.9% during the second quarter. Mackenzie Financial Corp now owns 4,434,020 shares of the textile maker’s stock worth $218,622,000 after buying an additional 1,695,329 shares in the last quarter. Lazard Asset Management LLC boosted its stake in Gildan Activewear by 95.2% during the third quarter. Lazard Asset Management LLC now owns 2,799,309 shares of the textile maker’s stock worth $161,749,000 after buying an additional 1,364,953 shares during the last quarter. Picton Mahoney Asset Management purchased a new stake in Gildan Activewear in the 2nd quarter valued at $65,409,000. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Gildan Activewear by 67.2% in the 1st quarter. The Manufacturers Life Insurance Company now owns 2,959,555 shares of the textile maker’s stock worth $131,556,000 after acquiring an additional 1,189,921 shares during the last quarter. Institutional investors and hedge funds 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.