Gildan Activewear (NYSE:GIL) Price Target Raised to $62.00 at Citigroup

Gildan Activewear (NYSE:GIL) (TSE:GIL) had its target price upped by investment analysts at Citigroup from $59.00 to $62.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the textile maker’s stock. Citigroup’s price objective suggests a potential upside of 13.10% from the company’s previous close.

GIL has been the topic of a number of other research reports. CIBC raised their price objective on Gildan Activewear from $56.00 to $60.00 and gave the stock an “outperform” rating in a research note on Thursday. TD Securities raised their price target on Gildan Activewear from $58.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, December 2nd. Canaccord Genuity Group upped their price objective on shares of Gildan Activewear from $52.00 to $53.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Stifel Nicolaus increased their price objective on shares of Gildan Activewear from $54.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, BMO Capital Markets boosted their target price on shares of Gildan Activewear from $58.00 to $64.00 and gave the company an “outperform” rating in a research report on Thursday. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $60.00.

Gildan Activewear Stock Performance

Shares of NYSE GIL traded up $0.92 during midday trading on Thursday, hitting $54.82. 372,915 shares of the company’s stock were exchanged, compared to its average volume of 519,160. Gildan Activewear has a 12 month low of $32.23 and a 12 month high of $54.81. The company’s 50 day moving average price is $49.34 and its 200 day moving average price is $47.48. The company has a quick ratio of 0.98, a current ratio of 2.31 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $8.34 billion, a PE ratio of 21.68, a price-to-earnings-growth ratio of 1.71 and a beta of 1.41.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its earnings results on Wednesday, February 19th. The textile maker reported $0.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.30). Gildan Activewear had a return on equity of 26.88% and a net margin of 13.06%. The company had revenue of $822.00 million for the quarter, compared to analyst estimates of $805.75 million. During the same quarter in the prior year, the business posted $0.75 EPS. The business’s quarterly revenue was up 5.0% compared to the same quarter last year. As a group, analysts predict that Gildan Activewear will post 2.97 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Gildan Activewear

Large investors have recently bought and sold shares of the company. CWM LLC increased its stake in shares of Gildan Activewear by 23.0% in the third quarter. CWM LLC now owns 1,698 shares of the textile maker’s stock valued at $80,000 after buying an additional 318 shares during the period. Creative Planning increased its position in Gildan Activewear by 12.8% in the 3rd quarter. Creative Planning now owns 13,248 shares of the textile maker’s stock valued at $624,000 after acquiring an additional 1,505 shares during the period. Blue Trust Inc. lifted its holdings in shares of Gildan Activewear by 96.1% during the third quarter. Blue Trust Inc. now owns 810 shares of the textile maker’s stock worth $38,000 after purchasing an additional 397 shares during the period. Raymond James & Associates lifted its holdings in Gildan Activewear by 191.3% during the 3rd quarter. Raymond James & Associates now owns 57,538 shares of the textile maker’s stock worth $2,711,000 after buying an additional 37,785 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Gildan Activewear by 7,709.2% in the third quarter. Allspring Global Investments Holdings LLC now owns 125,181 shares of the textile maker’s stock valued at $5,899,000 after acquiring an additional 123,578 shares during the last quarter. 82.83% of the stock is currently owned by institutional investors.

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.