Gildan Activewear (NYSE:GIL) PT Raised to $54.00

Gildan Activewear (NYSE:GIL) (TSE:GIL) had its price objective increased by equities research analysts at Stifel Nicolaus from $51.00 to $54.00 in a research note issued on Thursday, MarketBeat reports. The brokerage presently has a “buy” rating on the textile maker’s stock. Stifel Nicolaus’ price target would suggest a potential upside of 14.97% from the company’s current price.

Several other brokerages have also weighed in on GIL. BMO Capital Markets upped their target price on Gildan Activewear from $43.00 to $47.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Royal Bank of Canada boosted their price target on Gildan Activewear from $41.00 to $44.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $44.77.

Gildan Activewear Price Performance

NYSE GIL opened at $46.97 on Thursday. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.35 and a quick ratio of 0.97. The firm has a market capitalization of $7.78 billion, a price-to-earnings ratio of 15.87, a price-to-earnings-growth ratio of 1.77 and a beta of 1.43. The company has a 50 day simple moving average of $43.94 and a 200-day simple moving average of $39.35. Gildan Activewear has a 52-week low of $27.24 and a 52-week high of $47.75.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last released its earnings results on Thursday, August 1st. The textile maker reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.03. Gildan Activewear had a net margin of 13.01% and a return on equity of 24.96%. The company had revenue of $862.20 million during the quarter, compared to the consensus estimate of $851.10 million. During the same quarter in the prior year, the firm earned $0.63 EPS. The company’s revenue was up 2.6% compared to the same quarter last year. Equities research analysts predict that Gildan Activewear will post 2.92 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in GIL. EverSource Wealth Advisors LLC raised its stake in Gildan Activewear by 16.9% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,893 shares of the textile maker’s stock valued at $66,000 after purchasing an additional 274 shares during the last quarter. Aristides Capital LLC raised its position in shares of Gildan Activewear by 4.3% during the second quarter. Aristides Capital LLC now owns 7,617 shares of the textile maker’s stock valued at $289,000 after buying an additional 314 shares during the last quarter. Orion Portfolio Solutions LLC lifted its stake in shares of Gildan Activewear by 1.5% in the first quarter. Orion Portfolio Solutions LLC now owns 35,893 shares of the textile maker’s stock valued at $1,333,000 after buying an additional 535 shares during the period. SYSTM Wealth Solutions LLC grew its position in Gildan Activewear by 33.1% during the second quarter. SYSTM Wealth Solutions LLC now owns 2,709 shares of the textile maker’s stock worth $103,000 after buying an additional 674 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in Gildan Activewear by 11.7% during the second quarter. Assenagon Asset Management S.A. now owns 7,156 shares of the textile maker’s stock valued at $271,000 after acquiring an additional 747 shares during the period. 82.83% of the stock is owned by institutional investors.

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.