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

Gildan Activewear (NYSE:GIL) (TSE:GIL) had its target price hoisted by stock analysts at Stifel Nicolaus from $60.00 to $65.00 in a note issued to investors 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 company’s previous close.

Several other research firms also recently issued reports on GIL. Canaccord Genuity Group boosted their price target on Gildan Activewear from $53.00 to $58.00 and gave the company a “buy” rating in a research note on Thursday. Citigroup upped their target price on Gildan Activewear from $59.00 to $62.00 and gave the company a “buy” rating in a research report on Thursday. CIBC upped 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. BMO Capital Markets upped 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. Finally, TD Securities upped 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 research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $60.00.

Gildan Activewear Stock Performance

GIL opened at $54.18 on Thursday. The business has a fifty day simple moving average of $49.47 and a 200 day simple moving average of $47.54. 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 has a 1 year low of $32.23 and a 1 year 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.

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

Hedge Funds Weigh In On Gildan Activewear

A number of institutional investors have recently modified their holdings of GIL. Plato Investment Management Ltd acquired a new position in shares of Gildan Activewear during the 4th quarter worth $28,000. Blue Trust Inc. raised its holdings in shares of 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 buying an additional 397 shares in the last quarter. Fifth Third Bancorp raised its holdings in shares of 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 buying an additional 333 shares in the last quarter. Steward Partners Investment Advisory LLC increased its holdings in Gildan Activewear by 500.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 894 shares of the textile maker’s stock worth $42,000 after purchasing an additional 745 shares in the last quarter. Finally, Venturi Wealth Management LLC increased its holdings in Gildan Activewear by 899.0% in the 4th quarter. Venturi Wealth Management LLC now owns 1,009 shares of the textile maker’s stock worth $47,000 after purchasing an additional 908 shares in 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.