Gildan Activewear (NYSE:GIL) Stock Price Expected to Rise, Citigroup Analyst Says

Gildan Activewear (NYSE:GIL) (TSE:GIL) had its price objective boosted by analysts at Citigroup from $54.00 to $59.00 in a research note issued to investors on Friday, BayStreet.CA reports. The firm currently has a “buy” rating on the textile maker’s stock. Citigroup’s target price points to a potential upside of 18.81% from the company’s current price.

GIL has been the subject of several other research reports. CIBC increased their price target on Gildan Activewear from $48.00 to $56.00 and gave the stock an “outperform” rating in a research note on Friday. TD Securities upped their price objective on shares of Gildan Activewear from $56.00 to $58.00 and gave the company a “buy” rating in a report on Friday. Canaccord Genuity Group lifted their target price on shares of Gildan Activewear from $52.00 to $53.00 and gave the stock a “buy” rating in a research note on Friday. Royal Bank of Canada upped their price target on shares of 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 shares of Gildan Activewear from $51.00 to $54.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $51.05.

Gildan Activewear Stock Performance

Shares of GIL stock opened at $49.66 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.97 and a current ratio of 2.35. The firm has a market cap of $7.80 billion, a price-to-earnings ratio of 19.63, a P/E/G ratio of 1.85 and a beta of 1.44. Gildan Activewear has a 52 week low of $28.95 and a 52 week high of $49.92. The firm’s 50-day simple moving average is $46.45 and its two-hundred day simple moving average is $40.90.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its quarterly earnings results on Thursday, October 31st. The textile maker reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.01. Gildan Activewear had a net margin of 13.06% and a return on equity of 25.66%. The company had revenue of $891.10 million for the quarter, compared to analysts’ expectations of $882.85 million. During the same quarter in the previous year, the firm posted $0.74 EPS. Gildan Activewear’s revenue was up 2.4% on a year-over-year basis. As a group, equities analysts forecast that Gildan Activewear will post 2.93 earnings per share for the current year.

Institutional Trading of Gildan Activewear

Several institutional investors and hedge funds have recently modified their holdings of GIL. Riverview Trust Co purchased a new position in shares of Gildan Activewear during the third quarter worth about $29,000. Blue Trust Inc. lifted its position in Gildan Activewear by 96.1% during the third quarter. Blue Trust Inc. now owns 810 shares of the textile maker’s stock valued at $38,000 after purchasing an additional 397 shares during the last quarter. Natixis purchased a new position in Gildan Activewear in the 1st quarter worth approximately $51,000. Cullen Frost Bankers Inc. purchased a new position in Gildan Activewear in the 2nd quarter worth approximately $51,000. Finally, Tobam bought a new position in shares of Gildan Activewear in the 2nd quarter worth $53,000. Hedge funds and other institutional investors own 82.83% of the company’s stock.

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.