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

Zacks Research cut shares of Gildan Activewear (NYSE:GIL) (TSE:GIL) from a strong-buy rating to a hold rating in a research note released on Tuesday,Zacks.com reports.

GIL has been the topic of a number of other reports. Desjardins lifted their target price on Gildan Activewear from $80.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday, October 27th. Wall Street Zen downgraded shares of Gildan Activewear from a “buy” rating to a “hold” rating in a report on Saturday, September 6th. TD Cowen lifted their price objective on shares of Gildan Activewear from $67.00 to $73.00 and gave the stock a “buy” rating in a research report on Monday, October 6th. Scotiabank set a $66.00 target price on shares of Gildan Activewear and gave the company an “outperform” rating in a research note on Thursday, October 30th. Finally, Royal Bank Of Canada raised their price target on shares of Gildan Activewear from $68.00 to $71.00 and gave the stock an “outperform” rating in a research note on Monday, October 27th. Twelve research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Gildan Activewear currently has a consensus rating of “Moderate Buy” and an average target price of $74.46.

Gildan Activewear Price Performance

GIL opened at $63.12 on Tuesday. Gildan Activewear has a fifty-two week low of $37.16 and a fifty-two week high of $65.43. The firm has a market capitalization of $11.69 billion, a P/E ratio of 20.17 and a beta of 1.12. The company’s 50-day moving average is $58.95 and its 200 day moving average is $55.30. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.01 and a quick ratio of 0.88.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its 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. Gildan Activewear had a net margin of 14.13% and a return on equity of 35.53%. The firm had revenue of $910.60 million for the quarter, compared to analysts’ expectations of $925.24 million. During the same quarter last year, the firm earned $0.85 EPS. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. Gildan Activewear has set its FY 2025 guidance at 3.450-3.510 EPS. Research analysts expect that Gildan Activewear will post 3.48 earnings per share for the current fiscal year.

Gildan Activewear Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Wednesday, November 19th were given a $0.226 dividend. The ex-dividend date of this dividend was Wednesday, November 19th. This represents a $0.90 annualized dividend and a dividend yield of 1.4%. Gildan Activewear’s payout ratio is 28.75%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of GIL. Vanguard Group Inc. grew its stake in Gildan Activewear by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 6,005,233 shares of the textile maker’s stock valued at $346,928,000 after buying an additional 32,917 shares in the last quarter. Mackenzie Financial Corp grew its position in shares of Gildan Activewear by 9.6% in the third quarter. Mackenzie Financial Corp now owns 4,858,829 shares of the textile maker’s stock valued at $280,639,000 after purchasing an additional 424,809 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Gildan Activewear by 24.3% in the second quarter. The Manufacturers Life Insurance Company now owns 3,678,451 shares of the textile maker’s stock valued at $180,305,000 after purchasing an additional 718,896 shares in the last quarter. Lazard Asset Management LLC raised its stake in shares of Gildan Activewear by 95.2% during the 3rd quarter. Lazard Asset Management LLC now owns 2,799,309 shares of the textile maker’s stock valued at $161,749,000 after purchasing an additional 1,364,953 shares during the period. Finally, Cardinal Capital Management Inc. lifted its holdings in Gildan Activewear by 0.5% during the 2nd quarter. Cardinal Capital Management Inc. now owns 2,728,046 shares of the textile maker’s stock worth $134,378,000 after purchasing an additional 14,065 shares in the last quarter. 82.83% of the stock is owned by institutional investors.

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.