Canaccord Genuity Group Raises Gildan Activewear (NYSE:GIL) Price Target to $43.00

Gildan Activewear (NYSE:GIL) (TSE:GIL) had its target price raised by equities researchers at Canaccord Genuity Group from $42.00 to $43.00 in a report released on Thursday, BayStreet.CA reports. The firm presently has a “buy” rating on the textile maker’s stock. Canaccord Genuity Group’s price target would indicate a potential upside of 27.03% from the company’s current price.

A number of other research firms have also commented on GIL. Stifel Nicolaus raised their price objective on shares of Gildan Activewear from $34.00 to $36.00 and gave the stock a “hold” rating in a research note on Thursday, February 22nd. CIBC raised their target price on Gildan Activewear from $38.00 to $41.00 and gave the stock an “outperform” rating in a research report on Thursday, February 22nd. Royal Bank of Canada reiterated an “outperform” rating and set a $41.00 price target on shares of Gildan Activewear in a report on Monday, April 8th. UBS Group downgraded Gildan Activewear from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $40.00 to $37.00 in a research note on Friday, January 5th. Finally, TD Securities lifted their target price on Gildan Activewear from $42.00 to $46.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $41.85.

Gildan Activewear Trading Down 2.1 %

Shares of NYSE GIL traded down $0.74 during mid-day trading on Thursday, hitting $33.85. 1,150,576 shares of the company traded hands, compared to its average volume of 808,950. The company has a quick ratio of 0.83, a current ratio of 2.33 and a debt-to-equity ratio of 0.39. Gildan Activewear has a 1 year low of $26.98 and a 1 year high of $38.87. The stock has a market capitalization of $5.71 billion, a price-to-earnings ratio of 11.08, a PEG ratio of 1.31 and a beta of 1.38. The business has a 50 day moving average of $35.59 and a two-hundred day moving average of $33.97.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its quarterly earnings data on Wednesday, May 1st. The textile maker reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.07. The company had revenue of $695.80 million during the quarter, compared to analyst estimates of $692.94 million. Gildan Activewear had a net margin of 16.70% and a return on equity of 23.19%. The business’s quarterly revenue was down 1.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.45 earnings per share. On average, sell-side analysts anticipate that Gildan Activewear will post 2.94 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Gildan Activewear

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GIL. CWM LLC grew its position in Gildan Activewear by 86.5% in the fourth quarter. CWM LLC now owns 1,074 shares of the textile maker’s stock worth $35,000 after acquiring an additional 498 shares in the last quarter. Byrne Asset Management LLC bought a new stake in Gildan Activewear in the third quarter worth $34,000. EverSource Wealth Advisors LLC increased its position in Gildan Activewear by 120.6% during the third quarter. EverSource Wealth Advisors LLC now owns 1,646 shares of the textile maker’s stock worth $46,000 after buying an additional 900 shares during the last quarter. Tower Research Capital LLC TRC increased its position in Gildan Activewear by 529.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,215 shares of the textile maker’s stock worth $73,000 after buying an additional 1,863 shares during the last quarter. Finally, Dixon Mitchell Investment Counsel Inc. bought a new position in Gildan Activewear during the first quarter valued at about $84,000. 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.