Gildan Activewear (NYSE:GIL) Price Target Raised to $65.00 at TD Securities

Gildan Activewear (NYSE:GIL) (TSE:GIL) had its target price upped by TD Securities from $62.00 to $65.00 in a report issued on Thursday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the textile maker’s stock. TD Securities’ price target suggests a potential upside of 18.57% from the stock’s previous close.

A number of other brokerages have also recently commented on GIL. Stifel Nicolaus boosted their target price on shares of Gildan Activewear from $60.00 to $65.00 and gave the company a “buy” rating in a 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. Citigroup lifted their price target on shares of Gildan Activewear from $59.00 to $62.00 and gave the stock a “buy” rating in a research note on Thursday. CIBC upped their price objective on Gildan Activewear from $56.00 to $60.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, UBS Group raised their target price on Gildan Activewear from $60.00 to $69.00 and gave the stock a “buy” rating in a research report on Thursday. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Gildan Activewear has a consensus rating of “Buy” and a consensus target price of $60.00.

Gildan Activewear Price Performance

Shares of Gildan Activewear stock traded up $0.92 during trading on Thursday, hitting $54.82. 372,915 shares of the stock traded hands, compared to its average volume of 519,160. The stock has a market cap of $8.34 billion, a price-to-earnings ratio of 21.68, a PEG ratio of 1.71 and a beta of 1.41. The company has a quick ratio of 0.98, a current ratio of 2.31 and a debt-to-equity ratio of 0.81. Gildan Activewear has a 52 week low of $32.23 and a 52 week high of $54.81. The firm’s fifty day moving average is $49.34 and its 200-day moving average is $47.48.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last announced its quarterly earnings data on Wednesday, February 19th. The textile maker reported $0.83 earnings per share for the quarter, missing the consensus estimate of $1.13 by ($0.30). Gildan Activewear had a net margin of 13.06% and a return on equity of 26.88%. The company had revenue of $822.00 million during the quarter, compared to the consensus estimate of $805.75 million. During the same quarter in the previous year, the firm posted $0.75 EPS. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. Research analysts expect that Gildan Activewear will post 2.97 EPS for the current fiscal year.

Institutional Trading of Gildan Activewear

Institutional investors and hedge funds have recently bought and sold shares of the stock. Norges Bank purchased a new stake in shares of Gildan Activewear in the fourth quarter worth about $97,275,000. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Gildan Activewear by 604.1% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,850,971 shares of the textile maker’s stock valued at $86,999,000 after purchasing an additional 1,588,071 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in Gildan Activewear by 276.9% during the fourth quarter. The Manufacturers Life Insurance Company now owns 1,769,634 shares of the textile maker’s stock valued at $83,394,000 after acquiring an additional 1,300,121 shares during the last quarter. CIBC Asset Management Inc raised its stake in shares of Gildan Activewear by 545.1% in the fourth quarter. CIBC Asset Management Inc now owns 1,210,314 shares of the textile maker’s stock worth $57,403,000 after purchasing an additional 1,022,695 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its stake in Gildan Activewear by 776.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 817,204 shares of the textile maker’s stock valued at $38,414,000 after acquiring an additional 723,962 shares during the period. 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.