Gildan Activewear (NYSE:GIL) Price Target Raised to $78.00

Gildan Activewear (NYSE:GIL) (TSE:GIL) had its target price boosted by BMO Capital Markets from $70.00 to $78.00 in a research report released on Monday morning, MarketBeat.com reports. BMO Capital Markets currently has an outperform rating on the textile maker’s stock.

A number of other equities research analysts have also recently commented on the stock. TD Cowen raised their price target on shares of Gildan Activewear from $67.00 to $73.00 and gave the stock a “buy” rating in a report on Monday, October 6th. Barclays reissued an “overweight” rating and set a $70.00 price objective (up previously from $64.00) on shares of Gildan Activewear in a research report on Thursday, October 30th. UBS Group reaffirmed a “buy” rating and issued a $110.00 target price (up from $80.00) on shares of Gildan Activewear in a research report on Tuesday, December 16th. Royal Bank Of Canada upped their price target on Gildan Activewear from $68.00 to $71.00 and gave the stock an “outperform” rating in a research note on Monday, October 27th. Finally, Citigroup cut Gildan Activewear from a “buy” rating to a “neutral” rating and raised their price objective for the company from $60.00 to $63.00 in a research note on Monday, October 20th. Twelve research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Gildan Activewear presently has a consensus rating of “Moderate Buy” and an average price target of $75.77.

Gildan Activewear Trading Down 2.1%

NYSE GIL opened at $65.74 on Monday. The business has a 50 day simple moving average of $61.70 and a 200 day simple moving average of $57.96. Gildan Activewear has a one year low of $37.16 and a one year high of $67.96. The stock has a market capitalization of $12.17 billion, a P/E ratio of 21.00 and a beta of 1.11. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.01 and a quick ratio of 0.88.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued its quarterly earnings results on Wednesday, October 29th. The textile maker reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.02. The firm had revenue of $910.60 million for the quarter, compared to analyst estimates of $925.24 million. Gildan Activewear had a return on equity of 35.53% and a net margin of 14.13%.The company’s revenue was up 2.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.85 earnings per share. Research analysts expect that Gildan Activewear will post 3.48 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. JCIC Asset Management Inc. purchased a new stake in shares of Gildan Activewear during the 3rd quarter worth approximately $6,920,000. Northwest & Ethical Investments L.P. grew its holdings in Gildan Activewear by 11.8% during the second quarter. Northwest & Ethical Investments L.P. now owns 92,792 shares of the textile maker’s stock valued at $4,561,000 after purchasing an additional 9,774 shares during the period. Oakcliff Capital Partners LP increased its position in Gildan Activewear by 11.4% in the second quarter. Oakcliff Capital Partners LP now owns 681,689 shares of the textile maker’s stock worth $33,566,000 after buying an additional 70,000 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Gildan Activewear by 4.6% in the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 11,207 shares of the textile maker’s stock valued at $552,000 after buying an additional 493 shares during the period. Finally, Bank of Nova Scotia lifted its position in shares of Gildan Activewear by 14.0% during the 2nd quarter. Bank of Nova Scotia now owns 528,681 shares of the textile maker’s stock valued at $26,043,000 after buying an additional 65,090 shares during the last quarter. 82.83% of the stock is owned by hedge funds and other institutional investors.

Gildan Activewear Company Profile

Gildan Activewear Inc (NYSE:GIL) is a vertically integrated manufacturer and wholesaler of branded basic apparel, including activewear, socks, hosiery and underwear. Headquartered in Montreal, Quebec, the company produces a wide range of products such as T-shirts, fleece garments, sport shirts, performance wear, and shapewear under its Gildan, Anvil, Comfort Colors, Gold Toe, Peds and Silks brands. Leveraging its in-house knitting, dyeing, cut-and-sew and finishing operations, Gildan supplies blank apparel to screen printers, promotional product distributors and major retailers around the world.

Since its founding in 1984 by Glenn J.