Gildan Activewear (NYSE:GIL) Price Target Raised to $58.00 at TD Securities

Gildan Activewear (NYSE:GIL) (TSE:GIL) had its price objective hoisted by equities researchers at TD Securities from $56.00 to $58.00 in a report issued on Friday, BayStreet.CA reports. The brokerage presently has a “buy” rating on the textile maker’s stock. TD Securities’ target price points to a potential upside of 16.89% from the stock’s previous close.

Several other equities analysts have also commented on GIL. Stifel Nicolaus boosted their price target on Gildan Activewear from $51.00 to $54.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. CIBC boosted their price target on Gildan Activewear from $48.00 to $56.00 and gave the company an “outperform” rating in a report on Friday. Canaccord Genuity Group boosted their price target on Gildan Activewear from $52.00 to $53.00 and gave the company a “buy” rating in a report on Friday. Royal Bank of Canada upped their price objective on Gildan Activewear from $41.00 to $44.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Finally, BMO Capital Markets increased their price target on Gildan Activewear from $47.00 to $58.00 and gave the stock an “outperform” rating in a research note on Friday. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Gildan Activewear has an average rating of “Moderate Buy” and a consensus target price of $51.05.

Gildan Activewear Price Performance

Shares of NYSE:GIL traded up $0.72 during midday trading on Friday, hitting $49.62. 236,536 shares of the stock were exchanged, compared to its average volume of 708,253. The stock has a market cap of $7.79 billion, a P/E ratio of 20.37, a PEG ratio of 1.83 and a beta of 1.43. The company has a current ratio of 2.35, a quick ratio of 0.97 and a debt-to-equity ratio of 0.55. Gildan Activewear has a twelve month low of $28.95 and a twelve month high of $49.85. The company has a 50 day moving average price of $46.31 and a 200-day moving average price of $40.77.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its quarterly earnings data on Thursday, October 31st. The textile maker reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.01. The firm had revenue of $891.10 million during the quarter, compared to analysts’ expectations of $882.85 million. Gildan Activewear had a return on equity of 24.96% and a net margin of 13.01%. The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.74 EPS. On average, research analysts forecast that Gildan Activewear will post 2.93 earnings per share for the current year.

Institutional Investors Weigh In On Gildan Activewear

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. acquired a new position in Gildan Activewear during the first quarter valued at approximately $692,000. Canada Pension Plan Investment Board grew its position in Gildan Activewear by 16.1% during the first quarter. Canada Pension Plan Investment Board now owns 563,498 shares of the textile maker’s stock worth $20,933,000 after buying an additional 78,338 shares in the last quarter. BW Gestao de Investimentos Ltda. acquired a new stake in shares of Gildan Activewear in the 1st quarter valued at $5,570,000. Boston Partners boosted its holdings in shares of Gildan Activewear by 217.3% in the 1st quarter. Boston Partners now owns 357,910 shares of the textile maker’s stock valued at $13,281,000 after purchasing an additional 245,119 shares in the last quarter. Finally, Bridges Investment Management Inc. acquired a new stake in shares of Gildan Activewear during the 2nd quarter valued at $1,425,000. Institutional investors own 82.83% of the company’s stock.

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.