Gildan Activewear, Inc. (NYSE:GIL) Receives Average Recommendation of “Moderate Buy” from Brokerages

Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) has been assigned an average recommendation of “Moderate Buy” from the fifteen research firms that are covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $77.5385.

GIL has been the topic of a number of recent research reports. Citigroup cut shares of Gildan Activewear from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $60.00 to $63.00 in a report on Monday, October 20th. Scotiabank reissued an “outperform” rating on shares of Gildan Activewear in a research report on Tuesday, February 3rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Gildan Activewear in a research report on Monday, December 29th. Zacks Research cut Gildan Activewear from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 23rd. Finally, Royal Bank Of Canada increased their target price on Gildan Activewear from $68.00 to $71.00 and gave the stock an “outperform” rating in a research note on Monday, October 27th.

Institutional Trading of Gildan Activewear

Several institutional investors have recently bought and sold shares of the company. AQR Capital Management LLC lifted its stake in shares of Gildan Activewear by 49.3% in the first quarter. AQR Capital Management LLC now owns 13,209 shares of the textile maker’s stock worth $584,000 after buying an additional 4,360 shares in the last quarter. Goldman Sachs Group Inc. increased its position 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 acquiring an additional 503,359 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Gildan Activewear by 2.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 186,585 shares of the textile maker’s stock worth $8,251,000 after acquiring an additional 4,714 shares during the last quarter. US Bancorp DE lifted its position in Gildan Activewear by 8.0% in the 2nd quarter. US Bancorp DE now owns 14,827 shares of the textile maker’s stock valued at $730,000 after acquiring an additional 1,098 shares in the last quarter. Finally, Blue Trust Inc. boosted its stake in Gildan Activewear by 51.4% during the 2nd quarter. Blue Trust Inc. now owns 2,023 shares of the textile maker’s stock valued at $100,000 after purchasing an additional 687 shares during the last quarter. 82.83% of the stock is owned by hedge funds and other institutional investors.

Gildan Activewear Stock Down 0.3%

Shares of Gildan Activewear stock opened at $72.19 on Friday. Gildan Activewear has a 1 year low of $37.16 and a 1 year high of $73.59. The firm has a market cap of $13.37 billion, a price-to-earnings ratio of 23.06 and a beta of 1.08. The company has a 50-day moving average of $64.34 and a 200 day moving average of $59.24. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.01 and a quick ratio of 0.88.

About Gildan Activewear

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.