Gildan Activewear (NYSE:GIL) Given New $72.00 Price Target at Scotiabank

Gildan Activewear (NYSE:GIL) (TSE:GIL) had its price target lifted by Scotiabank from $66.00 to $72.00 in a research note published on Tuesday, Marketbeat reports. Scotiabank currently has a sector outperform rating on the textile maker’s stock.

GIL has been the subject of several other reports. Citigroup downgraded Gildan Activewear from a “buy” rating to a “neutral” rating and raised their target price for the company from $60.00 to $63.00 in a research note on Monday, October 20th. BMO Capital Markets raised their price objective on Gildan Activewear from $70.00 to $78.00 and gave the company an “outperform” rating in a research note on Monday, January 26th. UBS Group restated a “buy” rating and set a $110.00 price objective (up from $80.00) on shares of Gildan Activewear in a report on Tuesday, December 16th. National Bankshares upped their target price on Gildan Activewear from $92.00 to $97.00 and gave the company an “outperform” rating in a research report on Monday. Finally, TD Cowen increased their target price on Gildan Activewear from $67.00 to $73.00 and gave the company a “buy” rating in a research note on Monday, October 6th. Twelve investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Gildan Activewear has a consensus rating of “Moderate Buy” and a consensus price target of $77.54.

Gildan Activewear Trading Up 0.7%

NYSE GIL opened at $67.08 on Tuesday. The stock has a market cap of $12.42 billion, a P/E ratio of 21.43 and a beta of 1.08. The company’s fifty day simple moving average is $62.46 and its 200-day simple moving average is $58.41. The company has a current ratio of 2.01, a quick ratio of 0.88 and a debt-to-equity ratio of 0.94. Gildan Activewear has a 52 week low of $37.16 and a 52 week high of $67.96.

Hedge Funds Weigh In On Gildan Activewear

Several large investors have recently added to or reduced their stakes in the company. Washburn Capital Management Inc. increased its stake in Gildan Activewear by 3.8% during the fourth quarter. Washburn Capital Management Inc. now owns 4,257 shares of the textile maker’s stock valued at $266,000 after purchasing an additional 157 shares during the last quarter. Integrated Advisors Network LLC boosted its holdings in shares of Gildan Activewear by 3.0% in the 3rd quarter. Integrated Advisors Network LLC now owns 6,365 shares of the textile maker’s stock valued at $368,000 after buying an additional 185 shares during the period. Bank of Nova Scotia Trust Co. boosted its holdings in shares of Gildan Activewear by 2.5% in the 2nd quarter. Bank of Nova Scotia Trust Co. now owns 8,499 shares of the textile maker’s stock valued at $418,000 after buying an additional 207 shares during the period. Signaturefd LLC grew its position in shares of Gildan Activewear by 2.8% during the 3rd quarter. Signaturefd LLC now owns 7,659 shares of the textile maker’s stock valued at $443,000 after buying an additional 209 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale raised its stake in Gildan Activewear by 0.3% during the second quarter. DekaBank Deutsche Girozentrale now owns 73,619 shares of the textile maker’s stock worth $3,612,000 after acquiring an additional 231 shares during the period. 82.83% of the stock is currently owned by institutional investors.

Gildan Activewear Company Profile

Gildan Activewear Inc (NYSE:GIL) is a vertically integrated manufacturer and wholesaler of branded basic apparel, including activewear, socks, hosiery and underwear. Headquartered in Montreal, Quebec, the company produces a wide range of products such as T-shirts, fleece garments, sport shirts, performance wear, and shapewear under its Gildan, Anvil, Comfort Colors, Gold Toe, Peds and Silks brands. Leveraging its in-house knitting, dyeing, cut-and-sew and finishing operations, Gildan supplies blank apparel to screen printers, promotional product distributors and major retailers around the world.

Since its founding in 1984 by Glenn J.