Stifel Nicolaus Increases Gildan Activewear (NYSE:GIL) Price Target to $54.00

Gildan Activewear (NYSE:GIL) (TSE:GIL) had its price target hoisted by equities researchers at Stifel Nicolaus from $51.00 to $54.00 in a report issued on Thursday, MarketBeat.com reports. The brokerage currently has a “buy” rating on the textile maker’s stock. Stifel Nicolaus’ price objective indicates a potential upside of 14.97% from the stock’s previous close.

Other analysts have also recently issued research reports about the stock. BMO Capital Markets upped their price objective on shares of Gildan Activewear from $43.00 to $47.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Royal Bank of Canada boosted their target price on Gildan Activewear from $41.00 to $44.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, Gildan Activewear presently has an average rating of “Moderate Buy” and a consensus price target of $44.77.

Gildan Activewear Price Performance

Shares of GIL stock opened at $46.97 on Thursday. The firm has a market cap of $7.78 billion, a price-to-earnings ratio of 15.87, a PEG ratio of 1.77 and a beta of 1.43. Gildan Activewear has a 12 month low of $27.24 and a 12 month high of $47.75. The company has a quick ratio of 0.97, a current ratio of 2.35 and a debt-to-equity ratio of 0.55. The stock has a 50-day moving average price of $43.94 and a 200 day moving average price of $39.35.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last announced its quarterly earnings data on Thursday, August 1st. The textile maker reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.03. Gildan Activewear had a net margin of 13.01% and a return on equity of 24.96%. The business had revenue of $862.20 million for the quarter, compared to analyst estimates of $851.10 million. During the same period in the prior year, the business posted $0.63 earnings per share. Gildan Activewear’s revenue was up 2.6% compared to the same quarter last year. Research analysts expect that Gildan Activewear will post 2.92 EPS for the current year.

Institutional Investors Weigh In On Gildan Activewear

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Browning West LP grew its holdings in Gildan Activewear by 30.0% during the fourth quarter. Browning West LP now owns 8,640,448 shares of the textile maker’s stock worth $285,653,000 after purchasing an additional 1,994,900 shares during the period. Intact Investment Management Inc. lifted its holdings in Gildan Activewear by 204.8% during the 2nd quarter. Intact Investment Management Inc. now owns 881,100 shares of the textile maker’s stock valued at $33,416,000 after purchasing an additional 591,980 shares during the last quarter. National Bank of Canada FI boosted its position in Gildan Activewear by 43.8% during the first quarter. National Bank of Canada FI now owns 1,762,761 shares of the textile maker’s stock worth $65,451,000 after purchasing an additional 537,215 shares during the period. EdgePoint Investment Group Inc. increased its holdings in shares of Gildan Activewear by 28.0% in the second quarter. EdgePoint Investment Group Inc. now owns 1,863,618 shares of the textile maker’s stock valued at $70,696,000 after purchasing an additional 407,113 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. raised its position in shares of Gildan Activewear by 31.5% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,573,695 shares of the textile maker’s stock valued at $59,674,000 after purchasing an additional 377,135 shares during the period. Institutional investors 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.