TD Securities Boosts Gildan Activewear (NYSE:GIL) Price Target to $60.00

Gildan Activewear (NYSE:GIL) (TSE:GIL) had its price objective lifted by equities researchers at TD Securities from $58.00 to $60.00 in a report released on Monday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the textile maker’s stock. TD Securities’ price objective indicates a potential upside of 19.78% from the stock’s current price.

GIL has been the subject of several other research reports. BMO Capital Markets upped their price target on shares of Gildan Activewear from $47.00 to $58.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. CIBC upped their target price on shares of Gildan Activewear from $48.00 to $56.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Citigroup lifted their price target on shares of Gildan Activewear from $54.00 to $59.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Stifel Nicolaus upped their price objective on Gildan Activewear from $54.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, 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 research report on Friday, November 1st. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.05.

Gildan Activewear Trading Down 0.0 %

Shares of GIL stock opened at $50.09 on Monday. The company has a current ratio of 2.31, a quick ratio of 0.98 and a debt-to-equity ratio of 0.81. Gildan Activewear has a 12-month low of $30.68 and a 12-month high of $50.60. The stock has a market capitalization of $7.72 billion, a P/E ratio of 19.80, a P/E/G ratio of 1.87 and a beta of 1.40. The firm’s 50 day moving average is $48.28 and its 200 day moving average is $43.24.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last released its quarterly earnings results on Thursday, October 31st. The textile maker reported $0.85 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.85. The firm had revenue of $891.10 million for the quarter, compared to the consensus estimate of $882.85 million. Gildan Activewear had a return on equity of 26.88% and a net margin of 13.06%. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same period last year, the business posted $0.74 EPS. Research analysts expect that Gildan Activewear will post 2.97 earnings per share for the current year.

Institutional Trading of Gildan Activewear

Several institutional investors and hedge funds have recently added to or reduced their stakes in GIL. Intact Investment Management Inc. grew 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 buying an additional 591,980 shares in the last quarter. EdgePoint Investment Group Inc. grew its stake in Gildan Activewear by 28.0% during 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 acquiring an additional 407,113 shares in the last quarter. Vaughan Nelson Investment Management L.P. increased its holdings in Gildan Activewear by 31.5% in the 2nd 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 acquiring an additional 377,135 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in Gildan Activewear by 14.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,568,733 shares of the textile maker’s stock worth $97,290,000 after purchasing an additional 324,304 shares in the last quarter. Finally, Cooke & Bieler LP boosted its holdings in shares of Gildan Activewear by 2.7% during 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 last quarter. 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.