Weiss Ratings Reiterates “Buy (B-)” Rating for Gildan Activewear (NYSE:GIL)

Gildan Activewear (NYSE:GIL) (TSE:GIL)‘s stock had its “buy (b-)” rating restated by investment analysts at Weiss Ratings in a research note issued on Tuesday,Weiss Ratings reports.

Several other research analysts also recently weighed in on the stock. Scotiabank reaffirmed an “outperform” rating on shares of Gildan Activewear in a report on Thursday, August 14th. Wall Street Zen downgraded shares of Gildan Activewear from a “buy” rating to a “hold” rating in a report on Saturday, September 6th. CIBC increased their price objective on shares of Gildan Activewear from $56.00 to $60.00 and gave the company an “outperformer” rating in a report on Friday, August 1st. TD Securities set a $73.00 price objective on shares of Gildan Activewear and gave the company a “buy” rating in a report on Monday, October 6th. Finally, TD Cowen increased their price objective on shares of Gildan Activewear from $67.00 to $73.00 and gave the company a “buy” rating in a report on Monday, October 6th. Thirteen investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $66.23.

Gildan Activewear Trading Down 0.5%

Shares of Gildan Activewear stock opened at $60.36 on Tuesday. The company has a market capitalization of $9.00 billion, a P/E ratio of 19.16, a P/E/G ratio of 1.95 and a beta of 1.20. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.67 and a current ratio of 3.87. The company has a fifty day moving average of $56.16 and a 200 day moving average of $50.37. Gildan Activewear has a fifty-two week low of $37.16 and a fifty-two week high of $62.23.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued its earnings results on Thursday, July 31st. The textile maker reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.01. The company had revenue of $918.50 million during the quarter, compared to the consensus estimate of $908.41 million. Gildan Activewear had a net margin of 14.55% and a return on equity of 34.31%. Gildan Activewear’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.74 EPS. Gildan Activewear has set its FY 2025 guidance at 3.400-3.560 EPS. On average, sell-side analysts anticipate that Gildan Activewear will post 3.48 earnings per share for the current fiscal year.

Institutional Trading of Gildan Activewear

Hedge funds have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Gildan Activewear during the 1st quarter valued at about $1,072,000. Sumitomo Mitsui Trust Group Inc. purchased a new stake in shares of Gildan Activewear during the 1st quarter valued at about $474,000. PNC Financial Services Group Inc. raised its position in shares of Gildan Activewear by 173.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 12,259 shares of the textile maker’s stock valued at $542,000 after buying an additional 7,778 shares in the last quarter. Aigen Investment Management LP raised its position in shares of Gildan Activewear by 243.7% during the 1st quarter. Aigen Investment Management LP now owns 26,356 shares of the textile maker’s stock valued at $1,165,000 after buying an additional 18,688 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its position in shares of Gildan Activewear by 385.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 25,848 shares of the textile maker’s stock valued at $1,143,000 after buying an additional 20,523 shares in the last quarter. 82.83% of the stock is currently owned by hedge funds and other institutional investors.

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.