Gildan Activewear (NYSE:GIL) Reaches New 12-Month High – Here’s What Happened

Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) shares hit a new 52-week high during trading on Thursday . The company traded as high as $53.29 and last traded at $52.89, with a volume of 20920 shares trading hands. The stock had previously closed at $52.49.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. TD Securities upped their target price on shares of Gildan Activewear from $58.00 to $60.00 and gave the company a “buy” rating in a report on Monday, December 2nd. Canaccord Genuity Group increased their price target on Gildan Activewear from $52.00 to $53.00 and gave the company a “buy” rating in a research note on Friday, November 1st. CIBC upped their price objective 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. Stifel Nicolaus increased their price objective on shares of Gildan Activewear from $54.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, BMO Capital Markets lifted their target price on shares of Gildan Activewear from $47.00 to $58.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Ten equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $53.35.

Gildan Activewear Stock Performance

The stock has a 50 day moving average of $48.88 and a 200 day moving average of $46.69. 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 firm has a market cap of $7.97 billion, a price-to-earnings ratio of 20.66, a P/E/G ratio of 1.70 and a beta of 1.41.

Hedge Funds Weigh In On Gildan Activewear

A number of institutional investors have recently modified their holdings of GIL. Plato Investment Management Ltd acquired a new stake in Gildan Activewear in the fourth quarter valued at approximately $28,000. Riverview Trust Co bought a new position in shares of Gildan Activewear in the 3rd quarter valued at $29,000. Blue Trust Inc. lifted its stake in shares of Gildan Activewear by 96.1% in the 3rd quarter. Blue Trust Inc. now owns 810 shares of the textile maker’s stock valued at $38,000 after acquiring an additional 397 shares during the last quarter. Fifth Third Bancorp boosted its holdings in shares of Gildan Activewear by 61.8% during the 4th quarter. Fifth Third Bancorp now owns 872 shares of the textile maker’s stock valued at $41,000 after acquiring an additional 333 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC grew its position in Gildan Activewear by 500.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 894 shares of the textile maker’s stock worth $42,000 after acquiring an additional 745 shares during the last quarter. Institutional investors and hedge funds 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.