Gildan Activewear (NYSE:GIL – Get Free Report) (TSE:GIL) had its price objective boosted by investment analysts at CIBC from $37.00 to $38.00 in a note issued to investors on Friday, BayStreet.CA reports. The firm presently has an “outperform” rating on the textile maker’s stock. CIBC’s price objective would suggest a potential upside of 14.32% from the stock’s previous close.
Other research analysts have also recently issued research reports about the company. TD Securities upgraded Gildan Activewear from a “hold” rating to a “buy” rating and lifted their target price for the company from $36.00 to $38.00 in a report on Friday, August 4th. Desjardins boosted their target price on Gildan Activewear from $48.00 to $53.00 and gave the stock a “buy” rating in a report on Friday. StockNews.com lowered shares of Gildan Activewear from a “hold” rating to a “sell” rating in a report on Friday, October 13th. Stifel Nicolaus decreased their price objective on shares of Gildan Activewear from $37.00 to $34.00 and set a “buy” rating for the company in a research note on Monday, October 23rd. Finally, Citigroup cut their target price on shares of Gildan Activewear from $42.00 to $40.00 and set a “buy” rating on the stock in a research note on Friday, August 4th. One equities research analyst has rated the stock with a sell rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $40.77.
Gildan Activewear Trading Up 2.8 %
Gildan Activewear (NYSE:GIL – Get Free Report) (TSE:GIL) last posted its quarterly earnings results on Thursday, August 3rd. The textile maker reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.02. Gildan Activewear had a net margin of 15.73% and a return on equity of 24.47%. The company had revenue of $840.40 million for the quarter, compared to the consensus estimate of $822.03 million. As a group, equities analysts forecast that Gildan Activewear will post 2.58 EPS for the current year.
Institutional Trading of Gildan Activewear
A number of hedge funds have recently made changes to their positions in GIL. Byrne Asset Management LLC acquired a new stake in Gildan Activewear in the third quarter valued at $34,000. EverSource Wealth Advisors LLC increased its position in shares of Gildan Activewear by 120.6% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,646 shares of the textile maker’s stock worth $46,000 after purchasing an additional 900 shares during the last quarter. Addison Advisors LLC raised its stake in shares of Gildan Activewear by 97.5% in the 1st quarter. Addison Advisors LLC now owns 1,627 shares of the textile maker’s stock valued at $54,000 after purchasing an additional 803 shares in the last quarter. Covestor Ltd bought a new position in shares of Gildan Activewear during the second quarter worth about $76,000. Finally, Signaturefd LLC grew its stake in Gildan Activewear by 16.0% in the second quarter. Signaturefd LLC now owns 2,946 shares of the textile maker’s stock worth $95,000 after purchasing an additional 407 shares in the last quarter. Institutional investors and hedge funds own 79.09% 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, Comfort Colors, American Apparel, Alstyle, and GoldToe brands.
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