Stifel Nicolaus Forecasts Strong Price Appreciation for Gildan Activewear (NYSE:GIL) Stock

Gildan Activewear (NYSE:GIL) (TSE:GIL) had its price target hoisted by stock analysts at Stifel Nicolaus from $60.00 to $65.00 in a report issued on Thursday,BayStreet.CA reports. The firm currently has a “buy” rating on the textile maker’s stock. Stifel Nicolaus’ target price suggests a potential upside of 19.97% from the stock’s previous close.

A number of other equities research analysts have also issued reports on GIL. Canaccord Genuity Group lifted their target price on Gildan Activewear from $52.00 to $53.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Canaccord Genuity Group lifted their target price on Gildan Activewear from $53.00 to $58.00 and gave the company a “buy” rating in a research report on Thursday. BMO Capital Markets lifted their target price on Gildan Activewear from $58.00 to $64.00 and gave the company an “outperform” rating in a research report on Thursday. CIBC lifted their target price on Gildan Activewear from $56.00 to $60.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, TD Securities lifted their target price on Gildan Activewear from $58.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $60.00.

Gildan Activewear Trading Down 1.7 %

NYSE:GIL opened at $54.18 on Thursday. Gildan Activewear has a fifty-two week low of $32.23 and a fifty-two week high of $55.39. 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 stock 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. The business’s 50-day simple moving average is $49.47 and its 200-day simple moving average is $47.54.

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 the consensus estimate of $1.13 by ($0.30). Gildan Activewear had a net margin of 12.26% and a return on equity of 27.49%. The business had revenue of $822.00 million for the quarter, compared to the consensus estimate of $805.75 million. During the same quarter last year, the firm earned $0.75 EPS. The company’s revenue for the quarter was up 5.0% on a year-over-year basis. Sell-side analysts expect that Gildan Activewear will post 3.44 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Simcoe Capital Management LLC increased its position in shares of Gildan Activewear by 10.5% during the 3rd quarter. Simcoe Capital Management LLC now owns 2,387,865 shares of the textile maker’s stock worth $112,492,000 after purchasing an additional 226,695 shares during the last quarter. Intech Investment Management LLC acquired a new position in shares of Gildan Activewear during the 3rd quarter worth approximately $544,000. Tacita Capital Inc increased its holdings in shares of Gildan Activewear by 1,025.5% during the 3rd quarter. Tacita Capital Inc now owns 13,056 shares of the textile maker’s stock worth $615,000 after acquiring an additional 11,896 shares during the last quarter. Meritage Portfolio Management acquired a new position in shares of Gildan Activewear during the 4th quarter worth approximately $462,000. Finally, CIBC Asset Management Inc increased its holdings in shares of Gildan Activewear by 545.1% during the 4th quarter. CIBC Asset Management Inc now owns 1,210,314 shares of the textile maker’s stock worth $57,403,000 after acquiring an additional 1,022,695 shares during the last quarter. Institutional investors and hedge funds own 82.83% of the company’s stock.

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.