Gildan Activewear (NYSE:GIL) Stock Rating Lowered by Zacks Research

Gildan Activewear (NYSE:GIL) (TSE:GIL) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued on Monday,Zacks.com reports.

Several other equities analysts have also issued reports on the stock. Barclays restated an “overweight” rating and issued a $70.00 target price (up from $64.00) on shares of Gildan Activewear in a report on Thursday, October 30th. BMO Capital Markets lifted their price objective on Gildan Activewear from $70.00 to $78.00 and gave the stock an “outperform” rating in a research report on Monday, January 26th. TD Securities reissued a “buy” rating and issued a $77.00 price objective on shares of Gildan Activewear in a research note on Tuesday, January 27th. Royal Bank Of Canada restated an “outperform” rating and set a $79.00 target price (up from $71.00) on shares of Gildan Activewear in a research report on Tuesday. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Gildan Activewear in a research note on Tuesday, February 3rd. 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 company. Based on data from MarketBeat, Gildan Activewear presently has an average rating of “Moderate Buy” and a consensus target price of $80.00.

Gildan Activewear Stock Up 1.8%

Shares of NYSE GIL opened at $71.99 on Monday. The company has a market capitalization of $13.33 billion, a P/E ratio of 23.00 and a beta of 1.08. Gildan Activewear has a 52-week low of $37.16 and a 52-week high of $73.69. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.88 and a current ratio of 2.01. The company’s 50 day moving average price is $66.31 and its 200-day moving average price is $60.47.

Institutional Trading of Gildan Activewear

Large investors have recently made changes to their positions in the company. Webster Bank N. A. bought a new position in Gildan Activewear in the fourth quarter worth approximately $25,000. Islay Capital Management LLC acquired a new position in shares of Gildan Activewear during the fourth quarter worth approximately $25,000. Larson Financial Group LLC lifted its holdings in shares of Gildan Activewear by 3,516.7% in the 4th quarter. Larson Financial Group LLC now owns 434 shares of the textile maker’s stock worth $27,000 after purchasing an additional 422 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of Gildan Activewear by 161.8% in the 2nd quarter. Smartleaf Asset Management LLC now owns 555 shares of the textile maker’s stock worth $27,000 after purchasing an additional 343 shares in the last quarter. Finally, Brown Brothers Harriman & Co. grew its position in Gildan Activewear by 867.9% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 513 shares of the textile maker’s stock valued at $30,000 after purchasing an additional 460 shares during the period. 82.83% of the stock is currently owned by institutional investors and hedge funds.

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.