Gildan Activewear (NYSE:GIL) Price Target Raised to $60.00 at CIBC

Gildan Activewear (NYSE:GIL) (TSE:GIL) had its price target increased by stock analysts at CIBC from $56.00 to $60.00 in a report released on Thursday,BayStreet.CA reports. The firm currently has an “outperform” rating on the textile maker’s stock. CIBC’s target price points to a potential upside of 9.45% from the stock’s current price.

Several other brokerages have also issued reports on GIL. Citigroup boosted their target price on shares of Gildan Activewear from $54.00 to $59.00 and gave the company a “buy” rating in a research report on Friday, November 1st. BMO Capital Markets lifted their target price on Gildan Activewear from $58.00 to $64.00 and gave the company an “outperform” rating in a research note on Thursday. UBS Group increased their price objective on shares of Gildan Activewear from $60.00 to $69.00 and gave the company a “buy” rating in a report on Thursday. TD Securities boosted their target price on shares of Gildan Activewear from $58.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. Finally, Stifel Nicolaus raised their target price on shares of Gildan Activewear from $54.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Gildan Activewear presently has a consensus rating of “Buy” and a consensus price target of $60.00.

Gildan Activewear Trading Up 1.7 %

Gildan Activewear stock traded up $0.92 during trading hours on Thursday, reaching $54.82. The stock had a trading volume of 372,915 shares, compared to its average volume of 519,160. The company has a fifty day simple moving average of $49.34 and a 200-day simple moving average of $47.48. The stock has a market cap of $8.34 billion, a PE ratio of 21.68, a PEG ratio of 1.71 and a beta of 1.41. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.31 and a quick ratio of 0.98. Gildan Activewear has a 52 week low of $32.23 and a 52 week high of $54.81.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last announced its earnings results on Wednesday, February 19th. The textile maker reported $0.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.13 by ($0.30). The firm had revenue of $822.00 million during the quarter, compared to the consensus estimate of $805.75 million. Gildan Activewear had a return on equity of 26.88% and a net margin of 13.06%. The firm’s revenue was up 5.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.75 EPS. Analysts forecast that Gildan Activewear will post 2.97 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Norges Bank bought a new position in Gildan Activewear in the 4th quarter worth about $97,275,000. Connor Clark & Lunn Investment Management Ltd. grew its stake in Gildan Activewear by 604.1% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,850,971 shares of the textile maker’s stock worth $86,999,000 after purchasing an additional 1,588,071 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in Gildan Activewear by 276.9% during the 4th quarter. The Manufacturers Life Insurance Company now owns 1,769,634 shares of the textile maker’s stock valued at $83,394,000 after purchasing an additional 1,300,121 shares in the last quarter. CIBC Asset Management Inc grew its position in shares of Gildan Activewear by 545.1% during the 4th quarter. CIBC Asset Management Inc now owns 1,210,314 shares of the textile maker’s stock worth $57,403,000 after buying an additional 1,022,695 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its position in shares of Gildan Activewear by 776.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 817,204 shares of the textile maker’s stock worth $38,414,000 after acquiring an additional 723,962 shares in the last quarter. Institutional investors own 82.83% of the company’s stock.

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.