Gildan Activewear (NYSE:GIL) Price Target Raised to $56.00 at CIBC

Gildan Activewear (NYSE:GIL) (TSE:GIL) had its price target raised by investment analysts at CIBC from $48.00 to $56.00 in a report issued on Friday, BayStreet.CA reports. The firm presently has an “outperform” rating on the textile maker’s stock. CIBC’s target price would indicate a potential upside of 12.77% from the company’s previous close.

Other equities analysts have also issued reports about the company. Royal Bank of Canada increased their price target on Gildan Activewear from $41.00 to $44.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. TD Securities raised their target price on Gildan Activewear from $50.00 to $56.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. BMO Capital Markets boosted their price target on shares of Gildan Activewear from $47.00 to $58.00 and gave the stock an “outperform” rating in a research report on Friday. Stifel Nicolaus raised their price objective on shares of Gildan Activewear from $51.00 to $54.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Finally, Canaccord Genuity Group boosted their target price on shares of Gildan Activewear from $52.00 to $53.00 and gave the stock a “buy” rating in a report on Friday. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $51.05.

Gildan Activewear Stock Performance

GIL stock opened at $49.66 on Friday. The company has a 50-day simple moving average of $46.45 and a 200 day simple moving average of $40.90. The company has a market capitalization of $7.80 billion, a P/E ratio of 19.63, a PEG ratio of 1.85 and a beta of 1.44. The company has a quick ratio of 0.97, a current ratio of 2.35 and a debt-to-equity ratio of 0.55. Gildan Activewear has a fifty-two week low of $28.95 and a fifty-two week high of $49.92.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last released 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. The company had revenue of $891.10 million for the quarter, compared to the consensus estimate of $882.85 million. Gildan Activewear had a net margin of 13.06% and a return on equity of 25.66%. Gildan Activewear’s revenue was up 2.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.74 EPS. Sell-side analysts predict that Gildan Activewear will post 2.93 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Gildan Activewear

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Riverview Trust Co acquired a new stake in shares of Gildan Activewear in the third quarter worth $29,000. Blue Trust Inc. lifted its stake in Gildan Activewear by 96.1% in the 3rd 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. Cullen Frost Bankers Inc. acquired a new stake in Gildan Activewear during the 2nd quarter worth about $51,000. Natixis purchased a new position in Gildan Activewear during the 1st quarter valued at about $51,000. Finally, Tobam acquired a new position in shares of Gildan Activewear in the 2nd quarter valued at about $53,000. 82.83% of the stock is currently owned by hedge funds and other 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.