Gildan Activewear (NYSE:GIL) Price Target Raised to $58.00 at TD Securities

Gildan Activewear (NYSE:GIL) (TSE:GIL) had its target price hoisted by equities researchers at TD Securities from $56.00 to $58.00 in a research note issued on Friday, BayStreet.CA reports. The brokerage presently has a “buy” rating on the textile maker’s stock. TD Securities’ price target points to a potential upside of 16.89% from the company’s current price.

GIL has been the topic of a number of other research reports. BMO Capital Markets raised their price target on shares of Gildan Activewear from $47.00 to $58.00 and gave the stock an “outperform” rating in a report on Friday. Canaccord Genuity Group lifted their target price on shares of Gildan Activewear from $52.00 to $53.00 and gave the stock a “buy” rating in a report on Friday. Royal Bank of Canada lifted their target price on shares of Gildan Activewear from $41.00 to $44.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Stifel Nicolaus boosted their price objective on shares of Gildan Activewear from $51.00 to $54.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. 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. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $51.05.

Gildan Activewear Stock Performance

GIL traded up $0.72 on Friday, hitting $49.62. The company’s stock had a trading volume of 236,536 shares, compared to its average volume of 708,253. The company’s 50 day simple moving average is $46.31 and its 200-day simple moving average is $40.77. The firm has a market cap of $7.79 billion, a P/E ratio of 20.37, a price-to-earnings-growth ratio of 1.83 and a beta of 1.43. Gildan Activewear has a 12 month low of $28.95 and a 12 month high of $49.85. The company has a quick ratio of 0.97, a current ratio of 2.35 and a debt-to-equity ratio of 0.55.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its quarterly earnings data on Thursday, October 31st. The textile maker reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.01. The firm had revenue of $891.10 million for the quarter, compared to analysts’ expectations of $882.85 million. Gildan Activewear had a net margin of 13.01% and a return on equity of 24.96%. The business’s quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter last year, the company posted $0.74 EPS. Analysts forecast that Gildan Activewear will post 2.93 EPS for the current year.

Institutional Investors Weigh In On Gildan Activewear

A number of hedge funds have recently modified their holdings of the company. Fortis Group Advisors LLC lifted its position in Gildan Activewear by 3.9% in the third quarter. Fortis Group Advisors LLC now owns 6,601 shares of the textile maker’s stock valued at $311,000 after buying an additional 246 shares during the last quarter. EverSource Wealth Advisors LLC raised 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 valued at $66,000 after acquiring an additional 274 shares in the last quarter. Aristides Capital LLC raised its holdings in Gildan Activewear by 4.3% in the second quarter. Aristides Capital LLC now owns 7,617 shares of the textile maker’s stock valued at $289,000 after acquiring an additional 314 shares in the last quarter. CWM LLC increased its stake in Gildan Activewear by 23.0% in 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 during the last quarter. Finally, Blue Trust Inc. increased its stake in 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 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.