UBS Group Boosts Gildan Activewear (NYSE:GIL) Price Target to $70.00

Gildan Activewear (NYSE:GIL) (TSE:GIL) had its target price upped by equities researchers at UBS Group from $56.00 to $70.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the textile maker’s stock. UBS Group’s target price indicates a potential upside of 35.63% from the stock’s current price.

Other equities analysts also recently issued reports about the stock. CIBC dropped their price target on shares of Gildan Activewear from $60.00 to $56.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 30th. TD Securities upped their price objective on shares of Gildan Activewear from $56.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, April 30th. Barclays began coverage on shares of Gildan Activewear in a report on Monday, April 28th. They issued an “overweight” rating and a $51.00 price objective for the company. Finally, Scotiabank upgraded shares of Gildan Activewear to a “strong-buy” rating and set a $55.00 price objective for the company in a report on Wednesday, May 28th. Nine equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $58.00.

Gildan Activewear Trading Down 0.6%

NYSE GIL opened at $51.61 on Tuesday. Gildan Activewear has a 1-year low of $37.16 and a 1-year high of $55.39. The company has a current ratio of 3.91, a quick ratio of 1.59 and a debt-to-equity ratio of 1.35. The company has a market capitalization of $7.74 billion, a PE ratio of 19.93, a price-to-earnings-growth ratio of 1.67 and a beta of 1.19. The firm’s fifty day simple moving average is $49.41 and its 200-day simple moving average is $48.23.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its quarterly earnings results on Tuesday, April 29th. The textile maker reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.02. Gildan Activewear had a net margin of 12.38% and a return on equity of 30.61%. The business had revenue of $711.70 million for the quarter, compared to the consensus estimate of $715.29 million. During the same period in the prior year, the business posted $0.59 earnings per share. Gildan Activewear’s revenue for the quarter was up 2.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Gildan Activewear will post 3.48 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Gildan Activewear

A number of hedge funds have recently bought and sold shares of the company. DekaBank Deutsche Girozentrale boosted its holdings in Gildan Activewear by 0.3% during the second 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 during the period. Syon Capital LLC boosted its holdings in Gildan Activewear by 3.9% during the fourth quarter. Syon Capital LLC now owns 6,524 shares of the textile maker’s stock valued at $307,000 after acquiring an additional 242 shares during the period. Cooper Financial Group boosted its holdings in Gildan Activewear by 1.7% during the first quarter. Cooper Financial Group now owns 16,537 shares of the textile maker’s stock valued at $731,000 after acquiring an additional 269 shares during the period. Haven Private LLC lifted its stake in shares of Gildan Activewear by 3.4% in the first quarter. Haven Private LLC now owns 8,653 shares of the textile maker’s stock valued at $383,000 after buying an additional 284 shares during the period. Finally, Huntington National Bank lifted its stake in shares of Gildan Activewear by 16.4% in the fourth quarter. Huntington National Bank now owns 2,803 shares of the textile maker’s stock valued at $132,000 after buying an additional 395 shares during the period. 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.