Gildan Activewear (NYSE:GIL) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

Gildan Activewear (NYSE:GIL) (TSE:GIL) had its price target upped by investment analysts at Canaccord Genuity Group from $53.00 to $58.00 in a report issued on Thursday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the textile maker’s stock. Canaccord Genuity Group’s target price points to a potential upside of 7.05% from the company’s current price.

GIL has been the subject of several other reports. Stifel Nicolaus increased their price objective on Gildan Activewear from $54.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, November 1st. CIBC increased their price objective on Gildan Activewear from $56.00 to $60.00 and gave the company an “outperform” rating in a research report on Thursday. TD Securities increased their price objective on Gildan Activewear from $58.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. UBS Group increased their price objective on Gildan Activewear from $60.00 to $69.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Citigroup increased their price objective on Gildan Activewear from $59.00 to $62.00 and gave the company a “buy” rating in a research report on Thursday. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Gildan Activewear presently has a consensus rating of “Buy” and an average target price of $60.00.

Gildan Activewear Stock Down 1.7 %

Shares of Gildan Activewear stock opened at $54.18 on Thursday. The stock has a market capitalization of $8.24 billion, a P/E ratio of 21.67, a PEG ratio of 1.74 and a beta of 1.41. The company has a quick ratio of 0.98, a current ratio of 2.31 and a debt-to-equity ratio of 0.81. The stock has a 50 day moving average price of $49.47 and a two-hundred day moving average price of $47.54. Gildan Activewear has a 12-month low of $32.23 and a 12-month high of $55.39.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last announced its earnings results on Wednesday, February 19th. The textile maker reported $0.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.30). Gildan Activewear had a return on equity of 27.49% and a net margin of 12.26%. The company had revenue of $822.00 million for the quarter, compared to the consensus estimate of $805.75 million. During the same period in the previous year, the company earned $0.75 EPS. The firm’s revenue for the quarter was up 5.0% compared to the same quarter last year. Equities analysts expect that Gildan Activewear will post 3.44 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of GIL. CWM LLC raised its stake in Gildan Activewear by 23.0% during the third quarter. CWM LLC now owns 1,698 shares of the textile maker’s stock worth $80,000 after acquiring an additional 318 shares in the last quarter. Creative Planning raised its stake in Gildan Activewear by 12.8% during the third quarter. Creative Planning now owns 13,248 shares of the textile maker’s stock worth $624,000 after acquiring an additional 1,505 shares in the last quarter. Blue Trust Inc. raised its stake in Gildan Activewear by 96.1% during the third quarter. Blue Trust Inc. now owns 810 shares of the textile maker’s stock worth $38,000 after acquiring an additional 397 shares in the last quarter. Raymond James & Associates raised its stake in Gildan Activewear by 191.3% during the third quarter. Raymond James & Associates now owns 57,538 shares of the textile maker’s stock worth $2,711,000 after acquiring an additional 37,785 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in Gildan Activewear by 7,709.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 125,181 shares of the textile maker’s stock worth $5,899,000 after acquiring an additional 123,578 shares in the last quarter. 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.