Gildan Activewear (NYSE:GIL) Price Target Raised to $65.00 at TD Securities

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

Several other equities research analysts have also issued reports on GIL. Canaccord Genuity Group lifted their price objective 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 lifted their price objective on Gildan Activewear from $56.00 to $60.00 and gave the company an “outperform” rating in a research note on Thursday. UBS Group lifted their price objective on Gildan Activewear from $60.00 to $69.00 and gave the company a “buy” rating in a research note on Thursday. Stifel Nicolaus upped their price objective on Gildan Activewear from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Thursday. Finally, BMO Capital Markets upped their price objective on Gildan Activewear from $58.00 to $64.00 and gave the stock an “outperform” rating in a report on Thursday. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $60.00.

Gildan Activewear Price Performance

NYSE:GIL opened at $54.18 on Thursday. The firm has a market capitalization of $8.24 billion, a price-to-earnings ratio of 21.67, a P/E/G ratio of 1.74 and a beta of 1.41. Gildan Activewear has a 52-week low of $32.23 and a 52-week high of $55.39. The stock has a fifty day moving average of $49.47 and a 200 day moving average of $47.54. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.98 and a current ratio of 2.31.

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

Institutional Investors Weigh In On Gildan Activewear

Several institutional investors have recently bought and sold shares of GIL. Plato Investment Management Ltd purchased a new stake in Gildan Activewear during the 4th quarter valued at about $28,000. Blue Trust Inc. boosted its holdings in Gildan Activewear by 96.1% during 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 period. Fifth Third Bancorp boosted its holdings in 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 during the period. Steward Partners Investment Advisory LLC boosted its holdings 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 valued at $42,000 after acquiring an additional 745 shares during the period. Finally, Venturi Wealth Management LLC boosted its holdings in Gildan Activewear by 899.0% during the 4th quarter. Venturi Wealth Management LLC now owns 1,009 shares of the textile maker’s stock valued at $47,000 after acquiring an additional 908 shares during the period. 82.83% of the stock is currently 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.