Desjardins Downgrades Gildan Activewear (NYSE:GIL) to Hold

Desjardins lowered shares of Gildan Activewear (NYSE:GIL) (TSE:GIL) from a buy rating to a hold rating in a research report released on Monday, February 4th, Marketbeat.com reports. They currently have $33.98 target price on the textile maker’s stock.

Several other equities research analysts have also weighed in on GIL. Zacks Investment Research upgraded Gildan Activewear from a sell rating to a hold rating in a report on Tuesday, November 6th. Raymond James reiterated a strong-buy rating and issued a $40.00 price target on shares of Gildan Activewear in a report on Friday, November 2nd. TheStreet cut Gildan Activewear from a b rating to a c+ rating in a report on Thursday, November 1st. Finally, ValuEngine cut Gildan Activewear from a buy rating to a hold rating in a report on Saturday, January 5th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Gildan Activewear presently has an average rating of Hold and an average price target of $33.85.

Shares of NYSE GIL traded up $0.28 during trading hours on Monday, hitting $35.95. The stock had a trading volume of 473,325 shares, compared to its average volume of 628,945. The stock has a market cap of $7.25 billion, a price-to-earnings ratio of 19.33, a PEG ratio of 1.43 and a beta of 0.82. Gildan Activewear has a 52 week low of $25.33 and a 52 week high of $36.66. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.79 and a current ratio of 4.94.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its earnings results on Thursday, February 21st. The textile maker reported $0.43 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by ($0.01). Gildan Activewear had a return on equity of 20.12% and a net margin of 12.06%. The company had revenue of $743.00 million during the quarter, compared to analyst estimates of $718.48 million. During the same quarter last year, the firm posted $0.31 earnings per share. The firm’s revenue for the quarter was up 13.6% compared to the same quarter last year. On average, analysts predict that Gildan Activewear will post 2.06 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Thursday, March 7th will be given a dividend of $0.134 per share. This is an increase from Gildan Activewear’s previous quarterly dividend of $0.09. The ex-dividend date is Wednesday, March 6th. This represents a $0.54 dividend on an annualized basis and a yield of 1.49%. Gildan Activewear’s dividend payout ratio (DPR) is presently 24.19%.

Large investors have recently made changes to their positions in the company. Southpoint Capital Advisors LP acquired a new stake in Gildan Activewear during the third quarter valued at $129,327,000. Pzena Investment Management LLC purchased a new stake in shares of Gildan Activewear during the fourth quarter valued at approximately $60,293,000. Eaton Vance Management purchased a new stake in shares of Gildan Activewear during the third quarter valued at approximately $46,533,000. Nokota Management LP purchased a new stake in shares of Gildan Activewear during the third quarter valued at approximately $29,203,000. Finally, Federated Investors Inc. PA purchased a new stake in shares of Gildan Activewear during the third quarter valued at approximately $21,344,000. 69.79% of the stock is currently owned by hedge funds and other institutional investors.

About Gildan Activewear

Gildan Activewear Inc manufactures and sells a range of apparel products in the United States, Canada, Mexico, Europe, the Asia-Pacific, and Latin America. It operates in two segments, Printwear and Branded Apparel. 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, Smart Basics, Comfort Colors, American Apparel, Anvil, Alstyle, Gold Toe, and Mossy Oak brands.

Further Reading: Bid-Ask Spread

Analyst Recommendations for Gildan Activewear (NYSE:GIL)

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