Gildan Activewear (NYSE:GIL) Cut to “Strong Sell” at Zacks Research

Zacks Research lowered shares of Gildan Activewear (NYSE:GIL) (TSE:GIL) from a hold rating to a strong sell rating in a research note released on Monday morning,Zacks.com reports.

A number of other research analysts have also weighed in on the company. Scotiabank restated an “outperform” rating on shares of Gildan Activewear in a report on Tuesday, February 3rd. TD Securities reissued a “buy” rating and set a $77.00 price target on shares of Gildan Activewear in a research report on Tuesday, January 27th. Desjardins increased their price objective on shares of Gildan Activewear from $80.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, October 27th. Stifel Nicolaus upped their target price on Gildan Activewear from $75.00 to $80.00 and gave the company a “buy” rating in a report on Monday. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $79.00 price target (up from $71.00) on shares of Gildan Activewear in a report on Tuesday. Thirteen investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $80.00.

Gildan Activewear Stock Performance

Shares of Gildan Activewear stock opened at $71.42 on Monday. The stock has a market cap of $13.22 billion, a price-to-earnings ratio of 22.82 and a beta of 1.08. Gildan Activewear has a twelve month low of $37.16 and a twelve month high of $73.69. The company’s fifty day moving average is $66.48 and its 200 day moving average is $60.55. The company has a quick ratio of 0.88, a current ratio of 2.01 and a debt-to-equity ratio of 0.94.

Hedge Funds Weigh In On Gildan Activewear

Hedge funds have recently added to or reduced their stakes in the company. AQR Capital Management LLC boosted its stake in Gildan Activewear by 49.3% during the 1st quarter. AQR Capital Management LLC now owns 13,209 shares of the textile maker’s stock valued at $584,000 after purchasing an additional 4,360 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Gildan Activewear by 40.0% during the first quarter. Goldman Sachs Group Inc. now owns 1,760,253 shares of the textile maker’s stock valued at $77,838,000 after purchasing an additional 503,359 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Gildan Activewear by 2.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 186,585 shares of the textile maker’s stock valued at $8,251,000 after purchasing an additional 4,714 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Gildan Activewear by 4.6% during the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 11,207 shares of the textile maker’s stock valued at $552,000 after buying an additional 493 shares during the last quarter. Finally, Arkadios Wealth Advisors increased its holdings in Gildan Activewear by 33.3% in the 2nd quarter. Arkadios Wealth Advisors now owns 8,442 shares of the textile maker’s stock worth $416,000 after buying an additional 2,107 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 (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.