Gildan Activewear (NYSE:GIL) Hits New 12-Month High – Time to Buy?

Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) shares hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $72.91 and last traded at $72.51, with a volume of 1179025 shares traded. The stock had previously closed at $71.23.

Wall Street Analysts Forecast Growth

GIL has been the subject of a number of research reports. Scotiabank restated an “outperform” rating on shares of Gildan Activewear in a report on Tuesday, February 3rd. Royal Bank Of Canada raised their price target on shares of Gildan Activewear from $68.00 to $71.00 and gave the company an “outperform” rating in a research report on Monday, October 27th. TD Securities reaffirmed a “buy” rating and set a $77.00 price objective on shares of Gildan Activewear in a research report on Tuesday, January 27th. UBS Group reiterated a “buy” rating and issued a $110.00 price objective (up from $80.00) on shares of Gildan Activewear in a research note on Tuesday, December 16th. Finally, Barclays reissued an “overweight” rating and set a $70.00 target price (up from $64.00) on shares of Gildan Activewear in a research note on Thursday, October 30th. Twelve analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Gildan Activewear currently has a consensus rating of “Moderate Buy” and a consensus price target of $77.54.

Gildan Activewear Stock Down 0.3%

The company has a quick ratio of 0.88, a current ratio of 2.01 and a debt-to-equity ratio of 0.94. The stock has a market cap of $13.37 billion, a PE ratio of 23.06 and a beta of 1.08. The firm has a fifty day moving average of $64.34 and a 200 day moving average of $59.24.

Institutional Trading of Gildan Activewear

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Northwest & Ethical Investments L.P. boosted its holdings in shares of Gildan Activewear by 13.9% in the 4th quarter. Northwest & Ethical Investments L.P. now owns 95,160 shares of the textile maker’s stock valued at $5,951,000 after buying an additional 11,591 shares in the last quarter. Federation des caisses Desjardins du Quebec lifted its position in Gildan Activewear by 89.4% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 283,369 shares of the textile maker’s stock valued at $17,667,000 after acquiring an additional 133,789 shares during the last quarter. New South Capital Management Inc. acquired a new position in Gildan Activewear in the fourth quarter valued at $42,811,000. HRT Financial LP boosted its stake in Gildan Activewear by 4,777.1% in the fourth quarter. HRT Financial LP now owns 190,012 shares of the textile maker’s stock valued at $11,868,000 after acquiring an additional 186,116 shares in the last quarter. Finally, Pembroke Management LTD grew its holdings in shares of Gildan Activewear by 8.7% during the fourth quarter. Pembroke Management LTD now owns 159,161 shares of the textile maker’s stock worth $9,941,000 after purchasing an additional 12,775 shares during the last quarter. Institutional investors and hedge funds own 82.83% of the company’s stock.

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.