Gildan Activewear (NYSE:GIL) Price Target Raised to $56.00 at TD Securities

Gildan Activewear (NYSE:GIL) (TSE:GIL) had its price target upped by equities research analysts at TD Securities from $50.00 to $56.00 in a report released on Wednesday, BayStreet.CA reports. The brokerage presently has a “buy” rating on the textile maker’s stock. TD Securities’ price objective suggests a potential upside of 18.12% from the stock’s current price.

Several other equities research analysts have also issued reports on GIL. Royal Bank of Canada lifted their price target on Gildan Activewear from $41.00 to $44.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Stifel Nicolaus lifted their price target on Gildan Activewear from $51.00 to $54.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Finally, BMO Capital Markets lifted their price target on Gildan Activewear from $43.00 to $47.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $45.68.

Gildan Activewear Price Performance

Gildan Activewear stock opened at $47.41 on Wednesday. Gildan Activewear has a 52 week low of $27.24 and a 52 week high of $48.01. The business has a 50-day simple moving average of $45.14 and a 200 day simple moving average of $39.98. The company has a quick ratio of 0.97, a current ratio of 2.35 and a debt-to-equity ratio of 0.55. The stock has a market cap of $7.85 billion, a price-to-earnings ratio of 16.02, a PEG ratio of 1.81 and a beta of 1.43.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its earnings results on Thursday, August 1st. The textile maker reported $0.74 EPS for the quarter, topping the consensus estimate of $0.71 by $0.03. Gildan Activewear had a return on equity of 24.96% and a net margin of 13.01%. The business had revenue of $862.20 million during the quarter, compared to analysts’ expectations of $851.10 million. During the same period in the previous year, the business earned $0.63 earnings per share. The firm’s revenue was up 2.6% on a year-over-year basis. On average, research analysts forecast that Gildan Activewear will post 2.92 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Gildan Activewear

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Natixis bought a new position in Gildan Activewear during the 1st quarter valued at approximately $51,000. Cullen Frost Bankers Inc. bought a new position in Gildan Activewear during the 2nd quarter valued at approximately $51,000. Tobam bought a new position in Gildan Activewear during the 2nd quarter valued at approximately $53,000. EverSource Wealth Advisors LLC raised its position in Gildan Activewear by 16.9% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,893 shares of the textile maker’s stock valued at $66,000 after purchasing an additional 274 shares during the last quarter. Finally, CWM LLC raised its position in Gildan Activewear by 23.0% during the 3rd quarter. CWM LLC now owns 1,698 shares of the textile maker’s stock valued at $80,000 after purchasing an additional 318 shares during the last quarter. Institutional investors 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.