Gildan Activewear (NYSE:GIL) Stock Price Expected to Rise, CIBC Analyst Says

Gildan Activewear (NYSE:GIL) (TSE:GIL) had its price target hoisted by equities researchers at CIBC from $56.00 to $60.00 in a research note issued to investors on Thursday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the textile maker’s stock. CIBC’s price target suggests a potential upside of 10.74% from the stock’s current price.

Other analysts have also issued research reports about the stock. Stifel Nicolaus increased their price objective 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. Canaccord Genuity Group raised their price target 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. UBS Group raised their price target on shares of Gildan Activewear from $60.00 to $69.00 and gave the company a “buy” rating in a research report on Thursday. BMO Capital Markets raised their price target on shares of Gildan Activewear from $58.00 to $64.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, Citigroup raised their price target on shares of Gildan Activewear from $54.00 to $59.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Gildan Activewear presently has an average rating of “Buy” and a consensus target price of $60.00.

Gildan Activewear Stock Down 1.7 %

NYSE:GIL opened at $54.18 on Thursday. The firm has a market capitalization of $8.24 billion, a P/E ratio of 21.67, a PEG ratio of 1.74 and a beta of 1.41. Gildan Activewear has a 1-year low of $32.23 and a 1-year high of $55.39. The company’s fifty day moving average price is $49.47 and its 200-day moving average price is $47.54. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.31 and a quick ratio of 0.98.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last released its quarterly earnings data on Wednesday, February 19th. The textile maker reported $0.83 earnings per share for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.30). The business had revenue of $822.00 million during the quarter, compared to analyst estimates of $805.75 million. Gildan Activewear had a return on equity of 27.49% and a net margin of 12.26%. The firm’s revenue was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.75 EPS. As a group, equities research analysts anticipate that Gildan Activewear will post 3.44 EPS for the current year.

Institutional Trading of Gildan Activewear

Institutional investors have recently modified their holdings of the stock. Plato Investment Management Ltd acquired a new stake in shares of Gildan Activewear in the fourth quarter valued at about $28,000. Blue Trust Inc. grew its position in shares of Gildan Activewear by 96.1% in 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 during the period. Fifth Third Bancorp grew its position in shares of Gildan Activewear by 61.8% in the fourth quarter. Fifth Third Bancorp now owns 872 shares of the textile maker’s stock valued at $41,000 after purchasing an additional 333 shares during the period. Steward Partners Investment Advisory LLC grew its position in shares of Gildan Activewear by 500.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 894 shares of the textile maker’s stock valued at $42,000 after purchasing an additional 745 shares during the period. Finally, Venturi Wealth Management LLC lifted its stake in shares of Gildan Activewear by 899.0% in the fourth quarter. Venturi Wealth Management LLC now owns 1,009 shares of the textile maker’s stock worth $47,000 after buying an additional 908 shares in the last quarter. Institutional investors and hedge funds 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.