Brokerages Set Gildan Activewear, Inc. (NYSE:GIL) Price Target at $57.91

Shares of Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) have been given a consensus rating of “Buy” by the eleven analysts that are currently covering the firm, MarketBeat reports. Nine research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $58.00.

A number of equities research analysts recently weighed in on the company. UBS Group raised their price objective on Gildan Activewear from $56.00 to $70.00 and gave the company a “buy” rating in a research report on Tuesday. Barclays started coverage on shares of Gildan Activewear in a report on Monday, April 28th. They issued an “overweight” rating and a $51.00 price target on the stock. TD Securities boosted their price objective on shares of Gildan Activewear from $56.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, April 30th. Scotiabank upgraded shares of Gildan Activewear to a “strong-buy” rating and set a $55.00 target price for the company in a research note on Wednesday, May 28th. Finally, CIBC reduced their price target on Gildan Activewear from $60.00 to $56.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 30th.

Gildan Activewear Trading Down 0.6%

NYSE GIL opened at $51.61 on Monday. The stock has a market cap of $7.74 billion, a PE ratio of 19.93, a PEG ratio of 1.67 and a beta of 1.19. Gildan Activewear has a 12 month low of $37.16 and a 12 month high of $55.39. The company’s 50-day moving average price is $49.41 and its 200-day moving average price is $48.23. The company has a current ratio of 3.91, a quick ratio of 1.59 and a debt-to-equity ratio of 1.35.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last announced its quarterly earnings data on Tuesday, April 29th. The textile maker reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.02. The company had revenue of $711.70 million for the quarter, compared to analysts’ expectations of $715.29 million. Gildan Activewear had a return on equity of 30.61% and a net margin of 12.38%. Gildan Activewear’s revenue was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.59 earnings per share. Equities research analysts forecast that Gildan Activewear will post 3.48 earnings per share for the current year.

Institutional Investors Weigh In On Gildan Activewear

Several institutional investors have recently bought and sold shares of GIL. Legacy Wealth Asset Management LLC boosted its stake in Gildan Activewear by 18.8% during the 2nd quarter. Legacy Wealth Asset Management LLC now owns 37,148 shares of the textile maker’s stock worth $1,829,000 after purchasing an additional 5,885 shares during the last quarter. DekaBank Deutsche Girozentrale grew its stake in Gildan Activewear by 0.3% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 73,619 shares of the textile maker’s stock valued at $3,612,000 after acquiring an additional 231 shares in the last quarter. Bridges Investment Management Inc. grew its stake in Gildan Activewear by 4.5% during the 2nd quarter. Bridges Investment Management Inc. now owns 35,005 shares of the textile maker’s stock valued at $1,724,000 after acquiring an additional 1,515 shares in the last quarter. Davidson Investment Advisors raised its holdings in Gildan Activewear by 1.1% in the 2nd quarter. Davidson Investment Advisors now owns 452,753 shares of the textile maker’s stock valued at $22,294,000 after acquiring an additional 4,748 shares during the last quarter. Finally, Generali Asset Management SPA SGR lifted its stake in Gildan Activewear by 75.6% in the 2nd quarter. Generali Asset Management SPA SGR now owns 32,015 shares of the textile maker’s stock worth $1,576,000 after purchasing an additional 13,784 shares in the last quarter. 82.83% of the stock is currently owned by institutional investors and hedge funds.

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.