Gildan Activewear (NYSE:GIL) Price Target Raised to $65.00

Gildan Activewear (NYSE:GIL) (TSE:GIL) had its price target boosted by equities research analysts at Stifel Nicolaus from $60.00 to $65.00 in a note issued to investors on Thursday,BayStreet.CA reports. The firm presently has a “buy” rating on the textile maker’s stock. Stifel Nicolaus’ target price would indicate a potential upside of 18.57% from the company’s current price.

A number of other research firms have also recently commented on GIL. CIBC lifted their target price on Gildan Activewear from $56.00 to $60.00 and gave the stock an “outperform” rating in a research note on Thursday. Canaccord Genuity Group lifted their target price on Gildan Activewear from $52.00 to $53.00 and gave the company a “buy” rating in a report on Friday, November 1st. TD Securities upped their price target on shares of Gildan Activewear from $58.00 to $60.00 and gave the company a “buy” rating in a report on Monday, December 2nd. UBS Group raised their price target on Gildan Activewear from $60.00 to $69.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Canaccord Genuity Group increased their price objective on Gildan Activewear from $53.00 to $58.00 and gave the stock a “buy” rating in a report on Thursday. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $60.00.

Gildan Activewear Trading Up 1.7 %

Shares of NYSE GIL traded up $0.92 during midday trading on Thursday, reaching $54.82. The stock had a trading volume of 372,915 shares, compared to its average volume of 519,160. Gildan Activewear has a twelve month low of $32.23 and a twelve month high of $54.81. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.98 and a current ratio of 2.31. The company’s 50 day moving average price is $49.34 and its 200 day moving average price is $47.48. The firm has a market cap of $8.34 billion, a price-to-earnings ratio of 21.68, a price-to-earnings-growth ratio of 1.71 and a beta of 1.41.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last announced its quarterly earnings data on Wednesday, February 19th. The textile maker reported $0.83 earnings per share for the quarter, missing the consensus estimate of $1.13 by ($0.30). Gildan Activewear had a net margin of 13.06% and a return on equity of 26.88%. The company had revenue of $822.00 million for the quarter, compared to analyst estimates of $805.75 million. During the same quarter in the prior year, the company posted $0.75 EPS. Gildan Activewear’s revenue for the quarter was up 5.0% on a year-over-year basis. As a group, sell-side analysts expect that Gildan Activewear will post 2.97 EPS for the current year.

Hedge Funds Weigh In On Gildan Activewear

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GIL. Syon Capital LLC lifted its holdings in shares of Gildan Activewear by 3.9% during the fourth quarter. Syon Capital LLC now owns 6,524 shares of the textile maker’s stock valued at $307,000 after purchasing an additional 242 shares in the last quarter. CWM LLC lifted its stake in Gildan Activewear by 23.0% during the 3rd quarter. CWM LLC now owns 1,698 shares of the textile maker’s stock valued at $80,000 after acquiring an additional 318 shares during the period. Fifth Third Bancorp boosted its holdings in shares of Gildan Activewear by 61.8% during the 4th quarter. Fifth Third Bancorp now owns 872 shares of the textile maker’s stock valued at $41,000 after acquiring an additional 333 shares during the last quarter. Cooper Financial Group grew its stake in shares of Gildan Activewear by 2.1% in the fourth quarter. Cooper Financial Group now owns 16,268 shares of the textile maker’s stock worth $765,000 after acquiring an additional 340 shares during the period. Finally, Huntington National Bank lifted its position in Gildan Activewear by 16.4% during the fourth quarter. Huntington National Bank now owns 2,803 shares of the textile maker’s stock valued at $132,000 after purchasing an additional 395 shares during the period. 82.83% of the stock is owned by institutional investors.

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.