Gildan Activewear (NYSE:GIL) Upgraded by UBS Group to Buy Rating

Gildan Activewear (NYSE:GIL) (TSE:GIL) was upgraded by research analysts at UBS Group from a “neutral” rating to a “buy” rating in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a $60.00 price objective on the textile maker’s stock, up from their prior price objective of $50.00. UBS Group’s target price suggests a potential upside of 27.90% from the stock’s previous close.

Several other analysts have also recently issued reports on the stock. TD Securities increased their target price on shares of Gildan Activewear from $58.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday, December 2nd. BMO Capital Markets lifted their price objective on Gildan Activewear from $47.00 to $58.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Canaccord Genuity Group boosted their target price on Gildan Activewear from $52.00 to $53.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Stifel Nicolaus raised their price target on Gildan Activewear from $54.00 to $60.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, Citigroup boosted their price objective on Gildan Activewear from $54.00 to $59.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Ten analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $53.35.

Gildan Activewear Trading Up 0.9 %

Shares of GIL stock opened at $46.91 on Friday. The company’s fifty day simple moving average is $48.33 and its two-hundred day simple moving average is $45.05. The stock has a market capitalization of $7.17 billion, a price-to-earnings ratio of 18.54, a PEG ratio of 1.82 and a beta of 1.41. 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 has a 1 year low of $30.68 and a 1 year high of $50.60.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its earnings results on Thursday, October 31st. The textile maker reported $0.85 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.85. Gildan Activewear had a return on equity of 26.88% and a net margin of 13.06%. The business had revenue of $891.10 million during the quarter, compared to analyst estimates of $882.85 million. During the same quarter in the previous year, the firm earned $0.74 EPS. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. As a group, analysts anticipate that Gildan Activewear will post 2.97 earnings per share for the current year.

Institutional Investors Weigh In On Gildan Activewear

A number of hedge funds have recently made changes to their positions in GIL. Lord Abbett & CO. LLC purchased a new position in Gildan Activewear in the 3rd quarter worth $24,262,000. Franklin Resources Inc. grew its stake in shares of Gildan Activewear by 6.5% during the third quarter. Franklin Resources Inc. now owns 35,135 shares of the textile maker’s stock valued at $1,702,000 after buying an additional 2,138 shares during the last quarter. Synovus Financial Corp increased its holdings in shares of Gildan Activewear by 76.1% in the third quarter. Synovus Financial Corp now owns 40,798 shares of the textile maker’s stock worth $1,922,000 after buying an additional 17,634 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in shares of Gildan Activewear in the third quarter worth about $597,000. Finally, Sanctuary Advisors LLC bought a new stake in shares of Gildan Activewear in the 3rd quarter valued at about $969,000. 82.83% of the stock is currently 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.