Gildan Activewear (NYSE:GIL) Downgraded by Wall Street Zen to Hold

Gildan Activewear (NYSE:GIL) (TSE:GIL) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Saturday.

Several other analysts have also recently issued reports on the stock. Citigroup set a $60.00 price objective on shares of Gildan Activewear and gave the company a “buy” rating in a research note on Thursday, August 14th. CIBC boosted their price objective on shares of Gildan Activewear from $56.00 to $60.00 and gave the company an “outperformer” rating in a research note on Friday, August 1st. Royal Bank Of Canada boosted their price objective on shares of Gildan Activewear from $61.00 to $68.00 and gave the company an “outperform” rating in a research note on Thursday, August 14th. National Bankshares reissued an “outperform” rating on shares of Gildan Activewear in a research note on Thursday, August 14th. Finally, Barclays boosted their price objective on shares of Gildan Activewear from $51.00 to $56.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. Eleven investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $64.58.

Gildan Activewear Stock Up 0.7%

Shares of NYSE GIL opened at $55.46 on Friday. Gildan Activewear has a 1 year low of $37.16 and a 1 year high of $57.76. The firm’s 50 day moving average price is $52.66 and its 200 day moving average price is $48.78. The firm has a market cap of $8.28 billion, a P/E ratio of 17.60, a price-to-earnings-growth ratio of 1.77 and a beta of 1.17. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.67 and a current ratio of 3.87.

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

Hedge Funds Weigh In On Gildan Activewear

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Northern Trust Corp increased its stake in Gildan Activewear by 37.6% during the 4th quarter. Northern Trust Corp now owns 163,120 shares of the textile maker’s stock worth $7,675,000 after buying an additional 44,597 shares during the period. Jane Street Group LLC increased its stake in Gildan Activewear by 50.0% during the 4th quarter. Jane Street Group LLC now owns 92,840 shares of the textile maker’s stock worth $4,368,000 after buying an additional 30,928 shares during the period. BNP Paribas Financial Markets purchased a new stake in Gildan Activewear during the 4th quarter worth $1,849,000. Bank of America Corp DE increased its stake in Gildan Activewear by 8.1% during the 4th quarter. Bank of America Corp DE now owns 1,502,417 shares of the textile maker’s stock worth $70,689,000 after buying an additional 112,894 shares during the period. Finally, Baird Financial Group Inc. purchased a new stake in Gildan Activewear during the 4th quarter worth $234,000. Institutional investors and hedge funds own 82.83% of the company’s stock.

About Gildan Activewear

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.