Gildan Activewear (NYSE:GIL) PT Raised to $53.00

Gildan Activewear (NYSE:GIL) (TSE:GIL) had its target price increased by Desjardins from $48.00 to $53.00 in a note issued to investors on Friday, BayStreet.CA reports. The firm currently has a “buy” rating on the textile maker’s stock. Desjardins’ price target would indicate a potential upside of 59.45% from the stock’s previous close. Desjardins also issued estimates for Gildan Activewear’s Q3 2023 earnings at $0.71 EPS, Q4 2023 earnings at $0.71 EPS, FY2023 earnings at $2.50 EPS and FY2024 earnings at $2.95 EPS.

Several other equities research analysts also recently commented on GIL. Royal Bank of Canada cut their target price on shares of Gildan Activewear from $40.00 to $36.00 and set an “outperform” rating on the stock in a research report on Friday, August 4th. Citigroup reduced their price objective 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. TD Securities raised Gildan Activewear from a “hold” rating to a “buy” rating and raised their target price for the stock from $36.00 to $38.00 in a research report on Friday, August 4th. Stifel Nicolaus reduced their price target on Gildan Activewear from $37.00 to $34.00 and set a “buy” rating on the stock in a research report on Monday, October 23rd. Finally, StockNews.com downgraded Gildan Activewear from a “hold” rating to a “sell” rating in a research report on Friday, October 13th. One analyst has rated the stock with a sell rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $40.77.

Gildan Activewear Stock Up 2.8 %

Shares of GIL opened at $33.24 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.16 and a current ratio of 3.22. Gildan Activewear has a 52 week low of $26.30 and a 52 week high of $34.33. The stock has a market capitalization of $5.79 billion, a price-to-earnings ratio of 12.22, a PEG ratio of 1.20 and a beta of 1.31. The stock has a fifty day moving average of $28.70 and a 200-day moving average of $29.93.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its earnings results on Thursday, August 3rd. The textile maker reported $0.63 EPS for the quarter, beating the consensus estimate of $0.61 by $0.02. The firm had revenue of $840.40 million during the quarter, compared to the consensus estimate of $822.03 million. Gildan Activewear had a return on equity of 24.47% and a net margin of 15.73%. As a group, sell-side analysts anticipate that Gildan Activewear will post 2.58 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Gildan Activewear

Several hedge funds and other institutional investors have recently bought and sold shares of GIL. EverSource Wealth Advisors LLC grew its stake 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 valued at $46,000 after buying an additional 900 shares during the period. Signaturefd LLC boosted its holdings in Gildan Activewear by 39.3% in the third quarter. Signaturefd LLC now owns 4,104 shares of the textile maker’s stock worth $115,000 after acquiring an additional 1,158 shares in the last quarter. Todd Asset Management LLC grew its stake in Gildan Activewear by 4.3% in the third quarter. Todd Asset Management LLC now owns 97,500 shares of the textile maker’s stock valued at $2,731,000 after acquiring an additional 4,000 shares during the period. Byrne Asset Management LLC bought a new stake in shares of Gildan Activewear during the third quarter valued at approximately $34,000. Finally, China Universal Asset Management Co. Ltd. raised its position in shares of Gildan Activewear by 61.7% during the third quarter. China Universal Asset Management Co. Ltd. now owns 37,351 shares of the textile maker’s stock worth $1,046,000 after purchasing an additional 14,251 shares during the period. 79.09% of the stock is owned by institutional investors.

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.