Stifel Nicolaus Increases Gildan Activewear (NYSE:GIL) Price Target to $60.00

Gildan Activewear (NYSE:GIL) (TSE:GIL) had its price objective hoisted by Stifel Nicolaus from $54.00 to $60.00 in a report released on Friday, BayStreet.CA reports. The brokerage currently has a “buy” rating on the textile maker’s stock. Stifel Nicolaus’ price objective indicates a potential upside of 20.92% from the company’s current price.

Other analysts also recently issued reports about the stock. BMO Capital Markets upped their target price on shares of Gildan Activewear from $47.00 to $58.00 and gave the stock an “outperform” rating in a research report on Friday. Citigroup upped their target price on shares of Gildan Activewear from $54.00 to $59.00 and gave the stock a “buy” rating in a research report on Friday. CIBC increased their price objective on shares of Gildan Activewear from $48.00 to $56.00 and gave the company an “outperform” rating in a research report on Friday. TD Securities increased their price objective on shares of Gildan Activewear from $56.00 to $58.00 and gave the company a “buy” rating in a research report on Friday. Finally, Canaccord Genuity Group increased their price objective on shares of Gildan Activewear from $52.00 to $53.00 and gave the company a “buy” rating in a research report on Friday. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $51.05.

Gildan Activewear Trading Up 1.5 %

NYSE GIL traded up $0.72 during trading on Friday, hitting $49.62. The company had a trading volume of 236,536 shares, compared to its average volume of 708,253. The company has a current ratio of 2.35, a quick ratio of 0.97 and a debt-to-equity ratio of 0.55. Gildan Activewear has a one year low of $28.95 and a one year high of $49.85. The company has a market cap of $7.79 billion, a price-to-earnings ratio of 20.37, a price-to-earnings-growth ratio of 1.83 and a beta of 1.43. The company’s fifty day moving average is $46.31 and its 200-day moving average is $40.77.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued its quarterly earnings data on Thursday, October 31st. The textile maker reported $0.85 EPS for the quarter, topping the consensus estimate of $0.84 by $0.01. The business had revenue of $891.10 million during the quarter, compared to analyst estimates of $882.85 million. Gildan Activewear had a net margin of 13.01% and a return on equity of 24.96%. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.74 EPS. On average, sell-side analysts predict that Gildan Activewear will post 2.93 earnings per share for the current year.

Institutional Investors Weigh In On Gildan Activewear

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GIL. Intact Investment Management Inc. raised its stake in Gildan Activewear by 204.8% during the 2nd quarter. Intact Investment Management Inc. now owns 881,100 shares of the textile maker’s stock worth $33,416,000 after acquiring an additional 591,980 shares during the period. National Bank of Canada FI grew its holdings in Gildan Activewear by 43.8% during the 1st quarter. National Bank of Canada FI now owns 1,762,761 shares of the textile maker’s stock valued at $65,451,000 after buying an additional 537,215 shares in the last quarter. EdgePoint Investment Group Inc. grew its holdings in Gildan Activewear by 28.0% during the 2nd quarter. EdgePoint Investment Group Inc. now owns 1,863,618 shares of the textile maker’s stock valued at $70,696,000 after buying an additional 407,113 shares in the last quarter. Vaughan Nelson Investment Management L.P. grew its holdings in Gildan Activewear by 31.5% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 1,573,695 shares of the textile maker’s stock valued at $59,674,000 after buying an additional 377,135 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in Gildan Activewear by 14.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,568,733 shares of the textile maker’s stock valued at $97,290,000 after buying an additional 324,304 shares in the last quarter. 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.