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

Gildan Activewear (NYSE:GIL) (TSE:GIL) had its target price lifted by stock analysts at TD Securities from $62.00 to $65.00 in a research note issued on Thursday,BayStreet.CA reports. The firm presently has a “buy” rating on the textile maker’s stock. TD Securities’ price objective points to a potential upside of 19.97% from the company’s current price.

GIL has been the subject of a number of other reports. Stifel Nicolaus increased their price target on Gildan Activewear from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Thursday. 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 report on Friday, November 1st. BMO Capital Markets increased their price target on Gildan Activewear from $58.00 to $64.00 and gave the company an “outperform” rating in a research report on Thursday. CIBC increased their price target on Gildan Activewear from $56.00 to $60.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, Canaccord Genuity Group increased their price target on Gildan Activewear from $53.00 to $58.00 and gave the company a “buy” rating in a research report on Thursday. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $60.00.

Gildan Activewear Stock Down 1.7 %

GIL stock opened at $54.18 on Thursday. Gildan Activewear has a twelve month low of $32.23 and a twelve month high of $55.39. 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’s 50 day moving average is $49.47 and its 200-day moving average is $47.54. The firm has a market capitalization of $8.24 billion, a PE ratio of 21.67, a P/E/G ratio of 1.74 and a beta of 1.41.

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

Institutional Trading of Gildan Activewear

A number of large investors have recently bought and sold shares of GIL. CWM LLC increased its position in Gildan Activewear by 23.0% in the third quarter. CWM LLC now owns 1,698 shares of the textile maker’s stock worth $80,000 after buying an additional 318 shares during the last quarter. Creative Planning increased its position in Gildan Activewear by 12.8% in the third quarter. Creative Planning now owns 13,248 shares of the textile maker’s stock worth $624,000 after buying an additional 1,505 shares during the last quarter. Blue Trust Inc. grew its position in shares of Gildan Activewear by 96.1% in 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 in the last quarter. Raymond James & Associates grew its position in shares of Gildan Activewear by 191.3% in the third quarter. Raymond James & Associates now owns 57,538 shares of the textile maker’s stock valued at $2,711,000 after purchasing an additional 37,785 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in shares of Gildan Activewear by 7,709.2% in the third quarter. Allspring Global Investments Holdings LLC now owns 125,181 shares of the textile maker’s stock valued at $5,899,000 after purchasing an additional 123,578 shares in the last quarter. 82.83% of the stock is owned by hedge funds and other institutional investors.

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.