Gildan Activewear (NYSE:GIL) Given New $44.00 Price Target at Royal Bank of Canada

Gildan Activewear (NYSE:GIL) (TSE:GIL) had its price target upped by research analysts at Royal Bank of Canada from $41.00 to $44.00 in a research report issued to clients and investors on Friday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the textile maker’s stock. Royal Bank of Canada’s price target would suggest a potential upside of 8.08% from the stock’s previous close.

Several other research firms have also commented on GIL. Canaccord Genuity Group boosted their price target on Gildan Activewear from $42.00 to $43.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Stifel Nicolaus raised Gildan Activewear from a “hold” rating to a “buy” rating and boosted their price target for the stock from $39.00 to $51.00 in a research report on Friday. Canaccord Genuity Group upped their target price on Gildan Activewear from $42.00 to $43.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Finally, BMO Capital Markets upped their target price on Gildan Activewear from $43.00 to $47.00 and gave the company an “outperform” rating in a research report on Friday. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, Gildan Activewear currently has a consensus rating of “Moderate Buy” and an average target price of $44.50.

Gildan Activewear Stock Down 1.4 %

NYSE GIL traded down $0.58 on Friday, reaching $40.71. 506,768 shares of the stock traded hands, compared to its average volume of 758,983. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.92 and a current ratio of 2.38. The company has a fifty day moving average price of $38.48 and a 200-day moving average price of $36.02. The company has a market cap of $6.74 billion, a price-to-earnings ratio of 13.72, a PEG ratio of 1.54 and a beta of 1.43. Gildan Activewear has a 12 month low of $26.99 and a 12 month high of $42.00.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last released its quarterly earnings results on Thursday, August 1st. The textile maker reported $0.74 EPS for the quarter, topping the consensus estimate of $0.71 by $0.03. The firm had revenue of $862.20 million during the quarter, compared to analyst estimates of $851.10 million. Gildan Activewear had a return on equity of 24.00% and a net margin of 16.14%. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.63 EPS. As a group, research analysts forecast that Gildan Activewear will post 2.92 EPS for the current fiscal year.

Institutional Trading of Gildan Activewear

Several large investors have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC boosted its stake in shares of Gildan Activewear by 16.9% in the first quarter. EverSource Wealth Advisors LLC now owns 1,893 shares of the textile maker’s stock worth $66,000 after buying an additional 274 shares during the last quarter. CWM LLC boosted its stake in shares of Gildan Activewear by 86.5% in the fourth quarter. CWM LLC now owns 1,074 shares of the textile maker’s stock worth $35,000 after buying an additional 498 shares during the last quarter. Orion Portfolio Solutions LLC boosted its stake in shares of Gildan Activewear by 1.5% in the first quarter. Orion Portfolio Solutions LLC now owns 35,893 shares of the textile maker’s stock worth $1,333,000 after buying an additional 535 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Gildan Activewear by 11.7% in the second quarter. Assenagon Asset Management S.A. now owns 7,156 shares of the textile maker’s stock worth $271,000 after buying an additional 747 shares during the last quarter. Finally, Addenda Capital Inc. boosted its stake in shares of Gildan Activewear by 0.4% in the first quarter. Addenda Capital Inc. now owns 212,701 shares of the textile maker’s stock worth $7,898,000 after buying an additional 800 shares during the last quarter. Hedge funds and other institutional investors own 82.83% of the company’s stock.

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.