Gildan Activewear (NYSE:GIL) Price Target Raised to $44.00 at Royal Bank of Canada

Gildan Activewear (NYSE:GIL) (TSE:GIL) had its target price hoisted by analysts at Royal Bank of Canada from $41.00 to $44.00 in a report issued on Friday, Marketbeat reports. The firm currently has an “outperform” rating on the textile maker’s stock. Royal Bank of Canada’s price target would suggest a potential upside of 6.43% from the company’s previous close.

Several other brokerages have also commented on GIL. Canaccord Genuity Group lifted their price objective 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. Stifel Nicolaus upgraded Gildan Activewear from a “hold” rating to a “buy” rating and upped their price target for the company from $39.00 to $51.00 in a research report on Friday. BMO Capital Markets lifted their price objective on Gildan Activewear from $43.00 to $47.00 and gave the company an “outperform” rating in a research note on Friday. Finally, Canaccord Genuity Group increased their price target on shares of Gildan Activewear from $42.00 to $43.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $44.50.

Gildan Activewear Trading Up 0.1 %

Shares of Gildan Activewear stock opened at $41.34 on Friday. Gildan Activewear has a 52 week low of $26.99 and a 52 week high of $42.00. The stock has a 50 day moving average price of $38.55 and a two-hundred day moving average price of $36.12. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.92 and a current ratio of 2.38. The stock has a market capitalization of $6.85 billion, a PE ratio of 13.97, a price-to-earnings-growth ratio of 1.56 and a beta of 1.43.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last released its quarterly earnings results on Thursday, August 1st. The textile maker reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.03. The business had revenue of $862.20 million during the quarter, compared to the consensus estimate of $851.10 million. Gildan Activewear had a return on equity of 24.62% and a net margin of 13.01%. The company’s quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.63 EPS. As a group, equities analysts anticipate that Gildan Activewear will post 2.95 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in GIL. TD Asset Management Inc raised its stake in Gildan Activewear by 3.9% in the second quarter. TD Asset Management Inc now owns 678,045 shares of the textile maker’s stock worth $25,713,000 after buying an additional 25,253 shares in the last quarter. Cooke & Bieler LP lifted its stake in shares of Gildan Activewear by 2.7% in the 2nd quarter. Cooke & Bieler LP now owns 10,252,785 shares of the textile maker’s stock valued at $388,786,000 after purchasing an additional 271,273 shares during the period. CIBC Asset Management Inc boosted its position in shares of Gildan Activewear by 5.1% during the second quarter. CIBC Asset Management Inc now owns 208,265 shares of the textile maker’s stock valued at $7,894,000 after purchasing an additional 10,183 shares in the last quarter. Pembroke Management LTD bought a new position in Gildan Activewear in the second quarter worth $2,819,000. Finally, BW Gestao de Investimentos Ltda. lifted its position in Gildan Activewear by 39.9% during the second quarter. BW Gestao de Investimentos Ltda. now owns 209,784 shares of the textile maker’s stock valued at $7,955,000 after buying an additional 59,784 shares during the period. 82.83% of the stock is currently owned by institutional investors.

About Gildan Activewear

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.