Gildan Activewear (NYSE:GIL) Price Target Cut to $24.00

Gildan Activewear (NYSE:GIL) (TSE:GIL) had its target price lowered by research analysts at Citigroup from $40.00 to $24.00 in a research report issued on Monday, Stock Target Advisor reports. The firm currently has a “neutral” rating on the textile maker’s stock. Citigroup‘s price target would suggest a potential downside of 13.67% from the stock’s previous close.

A number of other research analysts have also commented on the stock. Edward Jones lowered shares of Gildan Activewear from a “buy” rating to a “hold” rating in a research note on Monday. Stifel Nicolaus lowered shares of Gildan Activewear from a “buy” rating to a “hold” rating and dropped their price target for the stock from $44.00 to $30.00 in a research note on Friday, October 18th. ValuEngine lowered shares of Gildan Activewear from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Royal Bank of Canada dropped their price target on shares of Gildan Activewear from $36.00 to $30.00 and set a “sector perform” rating on the stock in a research note on Friday, October 18th. Finally, Zacks Investment Research lowered shares of Gildan Activewear from a “hold” rating to a “sell” rating in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $30.60.

NYSE GIL opened at $27.80 on Monday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.68 and a current ratio of 4.33. The firm has a market cap of $5.35 billion, a PE ratio of 14.95, a P/E/G ratio of 1.06 and a beta of 0.85. Gildan Activewear has a one year low of $23.45 and a one year high of $40.40. The firm’s fifty day moving average is $34.96 and its two-hundred day moving average is $37.01.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its quarterly earnings data on Thursday, August 1st. The textile maker reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.02. The company had revenue of $801.60 million for the quarter, compared to analyst estimates of $793.91 million. Gildan Activewear had a net margin of 10.14% and a return on equity of 18.48%. Gildan Activewear’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.52 earnings per share. Research analysts predict that Gildan Activewear will post 1.69 earnings per share for the current year.

Several institutional investors have recently modified their holdings of the company. Commonwealth Bank of Australia boosted its holdings in Gildan Activewear by 28.1% during the second quarter. Commonwealth Bank of Australia now owns 2,595 shares of the textile maker’s stock worth $99,000 after buying an additional 569 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in Gildan Activewear by 997.0% during the second quarter. Tower Research Capital LLC TRC now owns 3,598 shares of the textile maker’s stock worth $140,000 after buying an additional 3,270 shares in the last quarter. Neuburgh Advisers LLC boosted its holdings in Gildan Activewear by 11.4% during the second quarter. Neuburgh Advisers LLC now owns 3,744 shares of the textile maker’s stock worth $139,000 after buying an additional 384 shares in the last quarter. Glen Harbor Capital Management LLC boosted its holdings in Gildan Activewear by 11.4% during the second quarter. Glen Harbor Capital Management LLC now owns 5,148 shares of the textile maker’s stock worth $191,000 after buying an additional 528 shares in the last quarter. Finally, Jane Street Group LLC purchased a new stake in Gildan Activewear during the second quarter worth about $201,000. Institutional investors and hedge funds own 66.97% of the company’s stock.

Gildan Activewear Company Profile

Gildan Activewear Inc manufactures and sells a range of apparel products in North America, Europe, the Asia-Pacific, and Latin America. 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, Comfort Colors, American Apparel, Anvil, Alstyle, and Gold Toe brands.

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