BMO Capital Markets Increases Gildan Activewear (NYSE:GIL) Price Target to $64.00

Gildan Activewear (NYSE:GIL) (TSE:GIL) had its target price lifted by equities researchers at BMO Capital Markets from $58.00 to $64.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the textile maker’s stock. BMO Capital Markets’ price objective suggests a potential upside of 18.52% from the stock’s current price.

A number of other brokerages have also commented on GIL. Stifel Nicolaus lifted their price target on shares of Gildan Activewear from $54.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. UBS Group upgraded shares of Gildan Activewear from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $50.00 to $60.00 in a research note on Friday, January 10th. TD Securities lifted their price target on shares of Gildan Activewear from $58.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday, December 2nd. Canaccord Genuity Group boosted their target price on shares of Gildan Activewear from $52.00 to $53.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, CIBC boosted their target price on shares of Gildan Activewear from $48.00 to $56.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Gildan Activewear presently has an average rating of “Buy” and a consensus price target of $56.44.

Gildan Activewear Stock Up 0.2 %

Gildan Activewear stock traded up $0.10 during trading hours on Thursday, hitting $54.00. The stock had a trading volume of 45,370 shares, compared to its average volume of 510,216. 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 has a market capitalization of $8.21 billion, a P/E ratio of 21.35, a price-to-earnings-growth ratio of 1.71 and a beta of 1.41. Gildan Activewear has a 12-month low of $32.23 and a 12-month high of $54.39. The stock’s 50-day moving average price is $49.34 and its 200-day moving average price is $47.48.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued its earnings results 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). Gildan Activewear had a return on equity of 26.88% and a net margin of 13.06%. The firm had revenue of $822.00 million during the quarter, compared to analysts’ expectations of $805.75 million. During the same period last year, the firm posted $0.75 earnings per share. The firm’s quarterly revenue was up 5.0% on a year-over-year basis. Equities research analysts anticipate that Gildan Activewear will post 2.97 EPS for the current fiscal year.

Hedge Funds Weigh In On Gildan Activewear

Hedge funds have recently modified their holdings of the stock. CWM LLC raised its stake in Gildan Activewear by 23.0% during the third quarter. CWM LLC now owns 1,698 shares of the textile maker’s stock valued at $80,000 after purchasing an additional 318 shares in the last quarter. Creative Planning raised its stake in Gildan Activewear by 12.8% during the third quarter. Creative Planning now owns 13,248 shares of the textile maker’s stock valued at $624,000 after purchasing an additional 1,505 shares in the last quarter. Blue Trust Inc. raised its stake in Gildan Activewear by 96.1% during 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 raised its stake in Gildan Activewear by 191.3% during 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 raised its stake in Gildan Activewear by 7,709.2% during 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. 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.