Gildan Activewear (NYSE:GIL) PT Raised to $56.00

Gildan Activewear (NYSE:GIL) (TSE:GIL) had its price objective hoisted by investment analysts at TD Securities from $50.00 to $56.00 in a research note issued on Wednesday, BayStreet.CA reports. The firm presently has a “buy” rating on the textile maker’s stock. TD Securities’ price target indicates a potential upside of 18.12% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the company. BMO Capital Markets raised their price objective on Gildan Activewear from $43.00 to $47.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Royal Bank of Canada raised their price objective on Gildan Activewear from $41.00 to $44.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Finally, Stifel Nicolaus raised their price objective on Gildan Activewear from $51.00 to $54.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $45.68.

Gildan Activewear Trading Down 0.4 %

NYSE GIL opened at $47.41 on Wednesday. The business has a 50 day simple moving average of $45.14 and a 200 day simple moving average of $39.98. Gildan Activewear has a one year low of $27.24 and a one year high of $48.01. The stock has a market capitalization of $7.85 billion, a P/E ratio of 16.02, a P/E/G ratio of 1.81 and a beta of 1.43. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.35 and a quick ratio of 0.97.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last released its earnings results on Thursday, August 1st. The textile maker reported $0.74 EPS for the quarter, topping the consensus estimate of $0.71 by $0.03. Gildan Activewear had a return on equity of 24.96% and a net margin of 13.01%. The business had revenue of $862.20 million during the quarter, compared to analysts’ expectations of $851.10 million. During the same quarter last year, the firm posted $0.63 earnings per share. The firm’s revenue was up 2.6% on a year-over-year basis. Research analysts expect that Gildan Activewear will post 2.92 earnings per share for the current year.

Institutional Trading of Gildan Activewear

Several hedge funds have recently made changes to their positions in GIL. Intact Investment Management Inc. raised its stake in shares of Gildan Activewear by 204.8% in the second 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 during the period. National Bank of Canada FI grew its position in shares of Gildan Activewear by 43.8% in the first quarter. National Bank of Canada FI now owns 1,762,761 shares of the textile maker’s stock valued at $65,451,000 after purchasing an additional 537,215 shares in the last quarter. EdgePoint Investment Group Inc. grew its position 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 in the last quarter. Vaughan Nelson Investment Management L.P. grew 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 in the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in shares of Gildan Activewear by 14.4% in the second quarter. The Manufacturers Life Insurance Company now owns 2,568,733 shares of the textile maker’s stock valued at $97,290,000 after purchasing an additional 324,304 shares in the last quarter. 82.83% of the stock is currently owned by institutional investors.

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.