Gildan Activewear (NYSE:GIL) Stock Rating Upgraded by Stifel Nicolaus

Gildan Activewear (NYSE:GIL) (TSE:GIL) was upgraded by research analysts at Stifel Nicolaus from a “hold” rating to a “buy” rating in a research note issued on Friday, Benzinga reports. The firm presently has a $51.00 price objective on the textile maker’s stock, up from their previous price objective of $39.00. Stifel Nicolaus’ price target would indicate a potential upside of 23.55% from the stock’s current price.

Other analysts have also recently issued reports about the company. Royal Bank of Canada reissued an “outperform” rating and issued a $41.00 target price on shares of Gildan Activewear in a research note on Monday, April 8th. Canaccord Genuity Group lifted their price objective on Gildan Activewear from $42.00 to $43.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Finally, Canaccord Genuity Group lifted their price objective on Gildan Activewear from $42.00 to $43.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $43.32.

Gildan Activewear Stock Performance

Gildan Activewear stock opened at $41.28 on Friday. Gildan Activewear has a fifty-two week low of $26.99 and a fifty-two week high of $42.00. 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 stock has a market cap of $6.84 billion, a P/E ratio of 13.95, a price-to-earnings-growth ratio of 1.54 and a beta of 1.43. The firm’s fifty day moving average price is $38.48 and its 200-day moving average price is $36.02.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its quarterly earnings results on Wednesday, May 1st. The textile maker reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.07. Gildan Activewear had a net margin of 16.14% and a return on equity of 24.00%. The business had revenue of $695.80 million during the quarter, compared to the consensus estimate of $692.94 million. During the same period in the previous year, the firm posted $0.45 earnings per share. The firm’s revenue for the quarter was down 1.0% on a year-over-year basis. On average, equities research analysts expect that Gildan Activewear will post 2.92 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Gildan Activewear

Several hedge funds have recently made changes to their positions in the company. CWM LLC boosted its holdings in 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 acquiring an additional 498 shares in the last quarter. Natixis bought a new stake in Gildan Activewear in the first quarter worth $51,000. Tobam bought a new stake in Gildan Activewear in the second quarter worth $53,000. EverSource Wealth Advisors LLC boosted its holdings in 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 acquiring an additional 274 shares in the last quarter. Finally, UniSuper Management Pty Ltd boosted its holdings in Gildan Activewear by 69.2% in the first quarter. UniSuper Management Pty Ltd now owns 2,200 shares of the textile maker’s stock worth $82,000 after acquiring an additional 900 shares in the last quarter. 82.83% of the stock is currently owned by institutional investors.

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.