Citigroup Forecasts Strong Price Appreciation for Gildan Activewear (NYSE:GIL) Stock

Gildan Activewear (NYSE:GIL) (TSE:GIL) had its price objective lifted by stock analysts at Citigroup from $59.00 to $62.00 in a report issued on Thursday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the textile maker’s stock. Citigroup’s price target indicates a potential upside of 13.10% from the stock’s current price.

Other equities research analysts also recently issued reports about the stock. Stifel Nicolaus raised their target price on shares of Gildan Activewear from $54.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, November 1st. TD Securities raised their price objective on Gildan Activewear from $58.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, December 2nd. BMO Capital Markets boosted their target price on Gildan Activewear from $58.00 to $64.00 and gave the company an “outperform” rating in a research note on Thursday. Canaccord Genuity Group lifted their price target on Gildan Activewear from $52.00 to $53.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, UBS Group increased 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. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $60.00.

Gildan Activewear Stock Performance

Shares of NYSE:GIL traded up $0.92 during trading on Thursday, hitting $54.82. 372,915 shares of the company were exchanged, compared to its average volume of 519,160. The company has a market cap of $8.34 billion, a PE ratio of 21.68, a P/E/G ratio of 1.71 and a beta of 1.41. Gildan Activewear has a 52-week low of $32.23 and a 52-week high of $54.81. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.31 and a quick ratio of 0.98. The stock has a 50 day moving average of $49.34 and a 200 day moving average of $47.48.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued its quarterly earnings data on Wednesday, February 19th. The textile maker reported $0.83 EPS for the quarter, missing the consensus estimate of $1.13 by ($0.30). Gildan Activewear had a net margin of 13.06% and a return on equity of 26.88%. The firm had revenue of $822.00 million for the quarter, compared to analysts’ expectations of $805.75 million. During the same period in the prior year, the firm posted $0.75 EPS. Gildan Activewear’s revenue was up 5.0% on a year-over-year basis. As a group, equities research analysts predict that Gildan Activewear will post 2.97 EPS for the current year.

Institutional Trading of Gildan Activewear

Large investors have recently modified their holdings of the company. Syon Capital LLC raised its holdings in Gildan Activewear by 3.9% in the 4th quarter. Syon Capital LLC now owns 6,524 shares of the textile maker’s stock worth $307,000 after purchasing an additional 242 shares during the period. CWM LLC lifted its stake in Gildan Activewear by 23.0% in the 3rd quarter. CWM LLC now owns 1,698 shares of the textile maker’s stock worth $80,000 after purchasing an additional 318 shares in the last quarter. Fifth Third Bancorp grew 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 buying an additional 333 shares in the last quarter. Cooper Financial Group raised its position in shares of Gildan Activewear by 2.1% during the 4th quarter. Cooper Financial Group now owns 16,268 shares of the textile maker’s stock valued at $765,000 after buying an additional 340 shares in the last quarter. Finally, Huntington National Bank raised its holdings in Gildan Activewear by 16.4% during the 4th quarter. Huntington National Bank now owns 2,803 shares of the textile maker’s stock valued at $132,000 after buying an additional 395 shares during the period. Institutional investors own 82.83% of the company’s stock.

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.