Gildan Activewear (NYSE:GIL) Given New $58.00 Price Target at Canaccord Genuity Group

Gildan Activewear (NYSE:GIL) (TSE:GIL) had its price target boosted by stock analysts at Canaccord Genuity Group from $53.00 to $58.00 in a note issued to investors on Thursday,BayStreet.CA reports. The firm currently has a “buy” rating on the textile maker’s stock. Canaccord Genuity Group’s price objective would indicate a potential upside of 5.80% from the stock’s current price.

A number of other research firms have also recently weighed in on GIL. TD Securities boosted their target price on shares of Gildan Activewear from $58.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, December 2nd. Stifel Nicolaus increased their price objective on shares of Gildan Activewear from $54.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Canaccord Genuity Group upped their target price on shares of Gildan Activewear from $52.00 to $53.00 and gave the company a “buy” rating in a research report on Friday, November 1st. CIBC boosted their price objective on Gildan Activewear from $56.00 to $60.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, Citigroup boosted their target price on Gildan Activewear from $59.00 to $62.00 and gave the company a “buy” rating in a research report on Thursday. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Gildan Activewear presently has a consensus rating of “Buy” and a consensus target price of $60.00.

Gildan Activewear Trading Up 1.7 %

Shares of GIL traded up $0.92 during trading hours on Thursday, hitting $54.82. 372,915 shares of the stock were exchanged, compared to its average volume of 519,160. The firm has a market capitalization of $8.34 billion, a P/E ratio of 21.68, a price-to-earnings-growth ratio of 1.71 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 fifty-two week low of $32.23 and a fifty-two week high of $54.81. The business has a 50-day moving average of $49.34 and a 200-day moving average of $47.48.

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

Institutional Investors Weigh In On Gildan Activewear

Several hedge funds have recently modified their holdings of GIL. Syon Capital LLC raised its holdings in Gildan Activewear by 3.9% in the 4th quarter. Syon Capital LLC now owns 6,524 shares of the textile maker’s stock worth $307,000 after purchasing an additional 242 shares during the period. CWM LLC grew its stake in Gildan Activewear by 23.0% in the 3rd quarter. CWM LLC now owns 1,698 shares of the textile maker’s stock valued at $80,000 after acquiring an additional 318 shares during the period. Fifth Third Bancorp raised its position in Gildan Activewear by 61.8% during the fourth quarter. Fifth Third Bancorp now owns 872 shares of the textile maker’s stock worth $41,000 after acquiring an additional 333 shares during the period. Cooper Financial Group lifted its holdings in Gildan Activewear by 2.1% during the fourth quarter. Cooper Financial Group now owns 16,268 shares of the textile maker’s stock valued at $765,000 after purchasing an additional 340 shares in the last quarter. Finally, Huntington National Bank grew its position in shares of Gildan Activewear by 16.4% in the fourth quarter. Huntington National Bank now owns 2,803 shares of the textile maker’s stock valued at $132,000 after purchasing an additional 395 shares during the period. 82.83% of the stock is owned by hedge funds and other 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.