TD Cowen Forecasts Strong Price Appreciation for Gildan Activewear (NYSE:GIL) Stock

Gildan Activewear (NYSE:GIL) (TSE:GIL) had its price target lifted by analysts at TD Cowen from $67.00 to $73.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the textile maker’s stock. TD Cowen’s price target would indicate a potential upside of 19.22% from the stock’s current price.

Several other research firms have also weighed in on GIL. Citigroup set a $60.00 target price on Gildan Activewear and gave the stock a “buy” rating in a report on Thursday, August 14th. Barclays upped their price objective on Gildan Activewear from $51.00 to $56.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. Canaccord Genuity Group increased their price target on Gildan Activewear from $60.00 to $67.00 and gave the company a “buy” rating in a research note on Thursday, August 14th. UBS Group increased their price objective on shares of Gildan Activewear from $56.00 to $70.00 and gave the company a “buy” rating in a research report on Tuesday, July 29th. Finally, Royal Bank Of Canada increased their price target on shares of Gildan Activewear from $61.00 to $68.00 and gave the company an “outperform” rating in a report on Thursday, August 14th. Thirteen investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $66.23.

Gildan Activewear Price Performance

NYSE:GIL traded up $0.27 during trading hours on Monday, reaching $61.23. The company had a trading volume of 84,218 shares, compared to its average volume of 798,612. The stock has a 50-day moving average of $54.76 and a two-hundred day moving average of $49.57. The company has a quick ratio of 1.67, a current ratio of 3.87 and a debt-to-equity ratio of 1.37. Gildan Activewear has a one year low of $37.16 and a one year high of $61.29. The firm has a market capitalization of $9.13 billion, a PE ratio of 19.39, a PEG ratio of 1.96 and a beta of 1.20.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last announced its earnings results on Thursday, July 31st. The textile maker reported $0.97 EPS for the quarter, topping the consensus estimate of $0.96 by $0.01. The company had revenue of $918.50 million for the quarter, compared to analysts’ expectations of $908.41 million. Gildan Activewear had a return on equity of 34.31% and a net margin of 14.55%.The business’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.74 earnings per share. Gildan Activewear has set its FY 2025 guidance at 3.400-3.560 EPS. Analysts forecast that Gildan Activewear will post 3.48 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Tower Research Capital LLC TRC grew its position in Gildan Activewear by 15.7% in the second quarter. Tower Research Capital LLC TRC now owns 13,124 shares of the textile maker’s stock valued at $646,000 after acquiring an additional 1,776 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of Gildan Activewear by 161.8% during the 2nd quarter. Smartleaf Asset Management LLC now owns 555 shares of the textile maker’s stock valued at $27,000 after purchasing an additional 343 shares during the last quarter. Onex Canada Asset Management Inc. grew its holdings in shares of Gildan Activewear by 12.4% during the 2nd quarter. Onex Canada Asset Management Inc. now owns 320,216 shares of the textile maker’s stock valued at $15,767,000 after purchasing an additional 35,392 shares during the last quarter. Engineers Gate Manager LP grew its stake in shares of Gildan Activewear by 144.7% during the second quarter. Engineers Gate Manager LP now owns 25,347 shares of the textile maker’s stock worth $1,248,000 after buying an additional 14,990 shares during the last quarter. Finally, Balyasny Asset Management L.P. grew its stake in shares of Gildan Activewear by 72.8% during the second quarter. Balyasny Asset Management L.P. now owns 38,224 shares of the textile maker’s stock worth $1,882,000 after buying an additional 16,099 shares during 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.