Gildan Activewear (NYSE:GIL) Hits New 52-Week High – Still a Buy?

Shares of Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $53.29 and last traded at $52.89, with a volume of 20920 shares changing hands. The stock had previously closed at $52.49.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. BMO Capital Markets lifted their price target on shares of Gildan Activewear from $47.00 to $58.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Citigroup increased their price objective on shares of Gildan Activewear from $54.00 to $59.00 and gave the stock a “buy” rating in a report on Friday, November 1st. UBS Group upgraded shares of Gildan Activewear from a “neutral” rating to a “buy” rating and upped their target price for the stock from $50.00 to $60.00 in a research report on Friday, January 10th. CIBC lifted their target price on Gildan Activewear from $48.00 to $56.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Finally, Stifel Nicolaus lifted their price objective on Gildan Activewear from $54.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Ten investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $53.35.

Gildan Activewear Stock Down 1.5 %

The company has a market capitalization of $7.80 billion, a price-to-earnings ratio of 20.22, a PEG ratio of 1.70 and a beta of 1.41. The firm has a 50-day moving average price of $48.93 and a two-hundred day moving average price of $46.73. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.31 and a quick ratio of 0.98.

Hedge Funds Weigh In On Gildan Activewear

A number of large investors have recently modified their holdings of GIL. Plato Investment Management Ltd acquired a new position in Gildan Activewear during the fourth quarter valued at approximately $28,000. Riverview Trust Co bought a new stake in Gildan Activewear during the third quarter worth $29,000. Blue Trust Inc. grew its position in shares of Gildan Activewear by 96.1% in the 3rd quarter. Blue Trust Inc. now owns 810 shares of the textile maker’s stock valued at $38,000 after acquiring an additional 397 shares during the period. Fifth Third Bancorp increased its stake in shares of Gildan Activewear by 61.8% during the 4th quarter. Fifth Third Bancorp now owns 872 shares of the textile maker’s stock worth $41,000 after purchasing an additional 333 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC grew its holdings in Gildan Activewear by 500.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 894 shares of the textile maker’s stock worth $42,000 after purchasing an additional 745 shares during the period. 82.83% of the stock is currently owned by institutional investors and hedge funds.

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, Glidan Softstyle, Gildan Heavy Cotton, Gildan Ultra Cotton, Gildan DryBlend, Gildan HeavyBlend, Comfort Colors, and American Apparel brands.