Gildan Activewear (NYSE:GIL) Price Target Cut to $36.00

Gildan Activewear (NYSE:GIL) (TSE:GIL) had its price objective lowered by equities researchers at Stifel Nicolaus from $39.00 to $36.00 in a report issued on Monday, BayStreet.CA reports. The brokerage currently has a “hold” rating on the textile maker’s stock. Stifel Nicolaus’ price objective indicates a potential downside of 8.70% from the company’s current price.

A number of other analysts also recently weighed in on the stock. Canaccord Genuity Group raised their price target on shares of Gildan Activewear from $42.00 to $43.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Canaccord Genuity Group raised their price target on shares of Gildan Activewear from $42.00 to $43.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $41.00 price target on shares of Gildan Activewear in a research report on Monday, April 8th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $41.95.

Gildan Activewear Trading Up 0.1 %

NYSE GIL traded up $0.04 during mid-day trading on Monday, hitting $39.43. The company’s stock had a trading volume of 313,103 shares, compared to its average volume of 768,742. Gildan Activewear has a 52-week low of $26.99 and a 52-week high of $40.12. The stock’s fifty day simple moving average is $37.66 and its two-hundred day simple moving average is $35.56. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.38 and a quick ratio of 0.92. The firm has a market capitalization of $6.53 billion, a P/E ratio of 13.32, a price-to-earnings-growth ratio of 1.50 and a beta of 1.43.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its quarterly earnings data on Wednesday, May 1st. The textile maker reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.07. The company had revenue of $695.80 million for the quarter, compared to analyst estimates of $692.94 million. Gildan Activewear had a net margin of 16.14% and a return on equity of 24.00%. The business’s quarterly revenue was down 1.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.45 earnings per share. Research analysts expect that Gildan Activewear will post 2.92 EPS for the current year.

Hedge Funds Weigh In On Gildan Activewear

Several hedge funds and other institutional investors have recently modified their holdings of GIL. Cooke & Bieler LP raised its stake in shares of Gildan Activewear by 1.7% during the fourth quarter. Cooke & Bieler LP now owns 10,075,062 shares of the textile maker’s stock valued at $333,082,000 after purchasing an additional 169,476 shares in the last quarter. Browning West LP raised its stake in shares of Gildan Activewear by 30.0% during the fourth quarter. Browning West LP now owns 8,640,448 shares of the textile maker’s stock valued at $285,653,000 after purchasing an additional 1,994,900 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Gildan Activewear by 1.6% during the third quarter. Vanguard Group Inc. now owns 6,401,045 shares of the textile maker’s stock valued at $179,293,000 after purchasing an additional 97,924 shares in the last quarter. Cardinal Capital Management Inc. raised its stake in shares of Gildan Activewear by 1.5% during the second quarter. Cardinal Capital Management Inc. now owns 2,907,144 shares of the textile maker’s stock valued at $110,197,000 after purchasing an additional 42,094 shares in the last quarter. Finally, Mackenzie Financial Corp raised its stake in shares of Gildan Activewear by 1.1% during the fourth quarter. Mackenzie Financial Corp now owns 2,712,021 shares of the textile maker’s stock valued at $89,732,000 after purchasing an additional 29,193 shares in the last quarter. Institutional investors and hedge funds own 82.83% of the company’s stock.

Gildan Activewear Company Profile

Gildan Activewear Inc manufactures and sells various apparel products in the United States, North America, Europe, Asia-Pacific, and Latin America. It provides various activewear products, including T-shirts, fleece tops and bottoms, and sports shirts under the Gildan, Gildan Performance, Gildan Hammer, Glidan Softstyle, Gildan Heavy Cotton, Gildan Ultra Cotton, Gildan DryBlend, Gildan HeavyBlend, Comfort Colors, and American Apparel brands.