Gildan Activewear (NYSE:GIL) Rating Lowered to Hold at Stifel Nicolaus

Gildan Activewear (NYSE:GIL) (TSE:GIL) was downgraded by research analysts at Stifel Nicolaus from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday, MarketBeat.com reports. They currently have a $30.00 target price on the textile maker’s stock, down from their prior target price of $44.00. Stifel Nicolaus’ price objective indicates a potential upside of 14.16% from the stock’s current price.

Other research analysts have also recently issued reports about the company. TD Securities lowered their price target on Gildan Activewear from $45.00 to $44.00 and set a “buy” rating on the stock in a report on Thursday. ValuEngine cut Gildan Activewear from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Desjardins raised Gildan Activewear from a “hold” rating to a “buy” rating in a report on Friday, August 2nd. Citigroup upped their price objective on Gildan Activewear from $37.00 to $40.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Finally, Zacks Investment Research cut Gildan Activewear from a “buy” rating to a “hold” rating in a report on Thursday, October 3rd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. Gildan Activewear has a consensus rating of “Hold” and an average target price of $32.55.

NYSE GIL opened at $26.28 on Friday. The stock’s 50 day moving average is $35.73 and its 200 day moving average is $37.20. The company has a current ratio of 4.33, a quick ratio of 1.68 and a debt-to-equity ratio of 0.55. Gildan Activewear has a 12 month low of $23.45 and a 12 month high of $40.40. The stock has a market cap of $7.21 billion, a PE ratio of 14.13, a P/E/G ratio of 1.22 and a beta of 0.85.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its quarterly earnings results on Thursday, August 1st. The textile maker reported $0.57 EPS for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.02. Gildan Activewear had a return on equity of 18.48% and a net margin of 10.14%. The company had revenue of $801.60 million for the quarter, compared to analysts’ expectations of $793.91 million. During the same period in the previous year, the firm earned $0.52 EPS. The firm’s revenue was up 4.9% compared to the same quarter last year. On average, analysts forecast that Gildan Activewear will post 1.69 EPS for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the company. Colony Group LLC raised its holdings in shares of Gildan Activewear by 28.3% during the 2nd quarter. Colony Group LLC now owns 414,470 shares of the textile maker’s stock worth $16,032,000 after acquiring an additional 91,524 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Gildan Activewear by 72.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 832,244 shares of the textile maker’s stock worth $31,999,000 after acquiring an additional 349,750 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Gildan Activewear by 997.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,598 shares of the textile maker’s stock worth $140,000 after acquiring an additional 3,270 shares in the last quarter. Mcclain Value Management LLC raised its holdings in shares of Gildan Activewear by 7.1% during the 2nd quarter. Mcclain Value Management LLC now owns 69,537 shares of the textile maker’s stock worth $2,690,000 after acquiring an additional 4,605 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp purchased a new stake in shares of Gildan Activewear during the 2nd quarter worth approximately $6,687,000. 67.01% of the stock is currently owned by institutional investors and hedge funds.

Gildan Activewear Company Profile

Gildan Activewear Inc manufactures and sells a range of apparel products in North America, Europe, the Asia-Pacific, and Latin America. The company manufactures and markets active wear products, including T-shirts, fleece tops and bottoms, and sport shirts under Gildan, Gildan Performance, Gildan Platinum, Gildan Hammer, Comfort Colors, American Apparel, Anvil, Alstyle, and Gold Toe brands.

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Analyst Recommendations for Gildan Activewear (NYSE:GIL)

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