Gildan Activewear (NYSE:GIL) Upgraded by Zacks Research to “Strong-Buy” Rating

Zacks Research upgraded shares of Gildan Activewear (NYSE:GIL) (TSE:GIL) from a hold rating to a strong-buy rating in a research report sent to investors on Monday,Zacks.com reports.

Several other analysts also recently issued reports on GIL. Barclays restated an “overweight” rating and issued a $70.00 price target (up from $64.00) on shares of Gildan Activewear in a research note on Thursday, October 30th. Royal Bank Of Canada boosted their target price on shares of Gildan Activewear from $68.00 to $71.00 and gave the company an “outperform” rating in a research report on Monday, October 27th. National Bankshares restated an “outperform” rating on shares of Gildan Activewear in a research note on Thursday, October 23rd. Canaccord Genuity Group raised their price target on shares of Gildan Activewear from $60.00 to $67.00 and gave the stock a “buy” rating in a research report on Thursday, August 14th. Finally, 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 note on Monday, October 6th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Gildan Activewear presently has a consensus rating of “Moderate Buy” and an average price target of $72.15.

Gildan Activewear Stock Up 0.5%

Gildan Activewear stock opened at $57.18 on Monday. The company’s 50-day moving average price is $58.36 and its two-hundred day moving average price is $53.66. 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 stock has a market cap of $8.52 billion, a P/E ratio of 18.27, a P/E/G ratio of 1.93 and a beta of 1.22. Gildan Activewear has a twelve month low of $37.16 and a twelve month high of $62.56.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued its quarterly earnings data on Wednesday, October 29th. The textile maker reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.02. Gildan Activewear had a return on equity of 35.90% and a net margin of 14.13%.The company had revenue of $910.60 million during the quarter, compared to analysts’ expectations of $925.24 million. During the same quarter in the previous year, the company posted $0.85 earnings per share. The business’s revenue was up 2.2% on a year-over-year basis. Gildan Activewear has set its FY 2025 guidance at 3.450-3.510 EPS. As a group, analysts expect that Gildan Activewear will post 3.48 EPS for the current year.

Gildan Activewear Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Wednesday, November 19th will be given a dividend of $0.226 per share. The ex-dividend date of this dividend is Wednesday, November 19th. This represents a $0.90 annualized dividend and a yield of 1.6%. Gildan Activewear’s dividend payout ratio is currently 28.75%.

Hedge Funds Weigh In On Gildan Activewear

Hedge funds and other institutional investors have recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of Gildan Activewear during the 2nd quarter worth approximately $101,409,000. Mackenzie Financial Corp lifted its stake 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 purchasing an additional 1,695,329 shares during the last quarter. Lazard Asset Management LLC boosted its holdings in shares of Gildan Activewear by 95.2% in 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 in the last quarter. Picton Mahoney Asset Management bought a new position in shares of 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 valued at $131,556,000 after purchasing an additional 1,189,921 shares during the last quarter. 82.83% of the stock is currently owned by institutional investors and hedge funds.

Gildan Activewear Company Profile

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.