Gildan Activewear (NYSE:GIL) Lowered to “Strong Sell” Rating by Zacks Research

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

Several other equities research analysts also recently issued reports on the company. Canadian Imperial Bank of Commerce reiterated an “outperform” rating and set a $79.00 price target on shares of Gildan Activewear in a report on Friday. UBS Group reaffirmed a “buy” rating and set a $110.00 price objective (up from $80.00) on shares of Gildan Activewear in a report on Tuesday, December 16th. TD Securities reiterated a “buy” rating and issued a $77.00 target price on shares of Gildan Activewear in a research note on Tuesday, January 27th. BMO Capital Markets raised their price target on shares of Gildan Activewear from $70.00 to $78.00 and gave the company an “outperform” rating in a research report on Monday, January 26th. Finally, National Bank Financial boosted their price target on shares of Gildan Activewear from $92.00 to $97.00 and gave the stock an “outperform” rating in a report on Monday, February 2nd. Thirteen equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $80.00.

Gildan Activewear Trading Up 1.8%

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

Hedge Funds Weigh In On Gildan Activewear

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Islay Capital Management LLC purchased a new stake in Gildan Activewear during the fourth quarter worth about $25,000. Webster Bank N. A. purchased a new position in Gildan Activewear in the fourth quarter valued at about $25,000. Larson Financial Group LLC grew its position in shares of Gildan Activewear by 3,516.7% during the 4th quarter. Larson Financial Group LLC now owns 434 shares of the textile maker’s stock valued at $27,000 after acquiring an additional 422 shares during the period. Nisa Investment Advisors LLC bought a new position in shares of Gildan Activewear during the 4th quarter valued at approximately $32,000. Finally, Brown Brothers Harriman & Co. increased its stake in shares of Gildan Activewear by 867.9% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 513 shares of the textile maker’s stock worth $30,000 after purchasing an additional 460 shares during the last quarter. 82.83% of the stock is 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.