Gildan Activewear (NYSE:GIL) PT Raised to $43.00

Gildan Activewear (NYSE:GIL) (TSE:GIL) had its price objective upped by equities researchers at Canaccord Genuity Group from $42.00 to $43.00 in a note issued to investors on Thursday, BayStreet.CA reports. The brokerage presently has a “buy” rating on the textile maker’s stock. Canaccord Genuity Group’s target price suggests a potential upside of 27.03% from the stock’s previous close.

A number of other equities research analysts have also issued reports on the stock. Scotiabank upped their price objective on shares of Gildan Activewear from $39.50 to $40.50 and gave the company a “sector outperform” rating in a report on Friday, February 9th. Citigroup raised their price target on shares of Gildan Activewear from $40.00 to $44.00 and gave the company a “buy” rating in a research report on Friday, February 23rd. TD Securities increased their price objective on Gildan Activewear from $42.00 to $46.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. UBS Group cut Gildan Activewear from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $40.00 to $37.00 in a research note on Friday, January 5th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $41.00 price target on shares of Gildan Activewear in a research report on Monday, April 8th. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $41.85.

Gildan Activewear Price Performance

Shares of NYSE:GIL traded down $0.74 during trading on Thursday, reaching $33.85. The stock had a trading volume of 1,150,576 shares, compared to its average volume of 808,950. The business has a fifty day moving average price of $35.59 and a 200-day moving average price of $33.97. Gildan Activewear has a 1-year low of $26.98 and a 1-year high of $38.87. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.83 and a current ratio of 2.33. The stock has a market cap of $5.71 billion, a PE ratio of 11.08, a PEG ratio of 1.31 and a beta of 1.38.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last announced its quarterly earnings data on Wednesday, May 1st. The textile maker reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.07. The company had revenue of $695.80 million during the quarter, compared to analysts’ expectations of $692.94 million. Gildan Activewear had a net margin of 16.70% and a return on equity of 23.19%. Gildan Activewear’s revenue was down 1.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.45 EPS. On average, equities analysts forecast that Gildan Activewear will post 2.94 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Gildan Activewear

Several hedge funds and other institutional investors have recently bought and sold shares of GIL. Natixis Advisors L.P. grew its holdings in shares of Gildan Activewear by 2.5% during the third quarter. Natixis Advisors L.P. now owns 13,204 shares of the textile maker’s stock worth $370,000 after purchasing an additional 324 shares during the last quarter. CWM LLC increased its position in Gildan Activewear by 86.5% during the fourth quarter. CWM LLC now owns 1,074 shares of the textile maker’s stock worth $35,000 after buying an additional 498 shares during the period. Addenda Capital Inc. increased its position in Gildan Activewear by 0.4% during the first quarter. Addenda Capital Inc. now owns 212,701 shares of the textile maker’s stock worth $7,898,000 after buying an additional 800 shares during the period. EverSource Wealth Advisors LLC lifted its stake in Gildan Activewear by 120.6% in the third quarter. EverSource Wealth Advisors LLC now owns 1,646 shares of the textile maker’s stock valued at $46,000 after buying an additional 900 shares during the last quarter. Finally, Verdence Capital Advisors LLC boosted its holdings in shares of Gildan Activewear by 9.1% in the first quarter. Verdence Capital Advisors LLC now owns 12,543 shares of the textile maker’s stock valued at $466,000 after acquiring an additional 1,049 shares during the period. 82.83% of the stock is currently owned by institutional investors and hedge funds.

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.