Gildan Activewear (NYSE:GIL) Stock Price Expected to Rise, CIBC Analyst Says

Gildan Activewear (NYSE:GIL) (TSE:GIL) had its price target hoisted by equities researchers at CIBC from $56.00 to $60.00 in a note issued to investors on Thursday,BayStreet.CA reports. The firm currently has an “outperform” rating on the textile maker’s stock. CIBC’s price objective suggests a potential upside of 10.74% from the stock’s previous close.

A number of other equities research analysts also recently issued reports on the stock. Stifel Nicolaus boosted their price target on shares of Gildan Activewear from $54.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, November 1st. UBS Group boosted their price target on shares of Gildan Activewear from $60.00 to $69.00 and gave the company a “buy” rating in a research note on Thursday. Citigroup boosted their price target on shares of Gildan Activewear from $54.00 to $59.00 and gave the company a “buy” rating in a research note on Friday, November 1st. TD Securities boosted their price target 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. Finally, BMO Capital Markets boosted their price target on shares of Gildan Activewear from $58.00 to $64.00 and gave the company an “outperform” rating in a research note on Thursday. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $60.00.

Gildan Activewear Price Performance

Shares of GIL stock opened at $54.18 on Thursday. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.31 and a quick ratio of 0.98. The firm’s 50-day moving average is $49.47 and its two-hundred day moving average is $47.54. Gildan Activewear has a 12 month low of $32.23 and a 12 month high of $55.39. The company has a market capitalization of $8.24 billion, a PE ratio of 21.67, a price-to-earnings-growth ratio of 1.74 and a beta of 1.41.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued its earnings results on Wednesday, February 19th. The textile maker reported $0.83 EPS for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.30). Gildan Activewear had a return on equity of 27.49% and a net margin of 12.26%. The firm had revenue of $822.00 million for the quarter, compared to analysts’ expectations of $805.75 million. During the same period last year, the firm earned $0.75 earnings per share. Gildan Activewear’s revenue for the quarter was up 5.0% on a year-over-year basis. Analysts predict that Gildan Activewear will post 3.44 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Plato Investment Management Ltd acquired a new position in Gildan Activewear during the 4th quarter worth approximately $28,000. Blue Trust Inc. grew its holdings in Gildan Activewear by 96.1% during the 3rd quarter. Blue Trust Inc. now owns 810 shares of the textile maker’s stock worth $38,000 after acquiring an additional 397 shares in the last quarter. Fifth Third Bancorp grew its holdings in Gildan Activewear by 61.8% during the 4th quarter. Fifth Third Bancorp now owns 872 shares of the textile maker’s stock worth $41,000 after acquiring an additional 333 shares in the last quarter. Steward Partners Investment Advisory LLC grew its holdings in Gildan Activewear by 500.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 894 shares of the textile maker’s stock worth $42,000 after acquiring an additional 745 shares in the last quarter. Finally, Venturi Wealth Management LLC grew its holdings in Gildan Activewear by 899.0% during the 4th quarter. Venturi Wealth Management LLC now owns 1,009 shares of the textile maker’s stock worth $47,000 after acquiring an additional 908 shares in the last quarter. Institutional investors and hedge funds 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.