Gildan Activewear (NYSE:GIL) Price Target Raised to $72.00

Gildan Activewear (NYSE:GIL) (TSE:GIL) had its price objective hoisted by stock analysts at Scotiabank from $66.00 to $72.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has a “sector outperform” rating on the textile maker’s stock. Scotiabank’s price objective suggests a potential upside of 8.08% from the stock’s current price.

Other equities research analysts have also recently issued reports about the stock. TD Securities restated a “buy” rating and set a $77.00 price objective on shares of Gildan Activewear in a research note on Tuesday, January 27th. Royal Bank Of Canada raised their target price on shares of Gildan Activewear from $68.00 to $71.00 and gave the company an “outperform” rating in a research note on Monday, October 27th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Gildan Activewear in a research note on Monday, December 29th. National Bankshares raised their price objective on shares of Gildan Activewear from $92.00 to $97.00 and gave the company an “outperform” rating in a research note on Monday. Finally, Zacks Research downgraded Gildan Activewear from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 23rd. Twelve research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Gildan Activewear has an average rating of “Moderate Buy” and an average price target of $77.54.

Gildan Activewear Stock Up 2.5%

GIL opened at $66.62 on Tuesday. The stock’s 50 day moving average price is $62.26 and its 200 day moving average price is $58.31. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.01 and a quick ratio of 0.88. The stock has a market cap of $12.34 billion, a P/E ratio of 21.28 and a beta of 1.08. Gildan Activewear has a 12 month low of $37.16 and a 12 month high of $67.96.

Institutional Investors Weigh In On Gildan Activewear

Large investors have recently added to or reduced their stakes in the stock. Webster Bank N. A. bought a new position in shares of Gildan Activewear in the fourth quarter valued at approximately $25,000. Smartleaf Asset Management LLC grew its position in shares of Gildan Activewear by 161.8% in the second 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. Brown Brothers Harriman & Co. increased its stake in shares of Gildan Activewear by 867.9% in the third quarter. Brown Brothers Harriman & Co. now owns 513 shares of the textile maker’s stock worth $30,000 after purchasing an additional 460 shares during the period. CIBC Private Wealth Group LLC lifted its position in shares of Gildan Activewear by 169.0% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 538 shares of the textile maker’s stock worth $31,000 after purchasing an additional 338 shares during the last quarter. Finally, Nisa Investment Advisors LLC bought a new stake in Gildan Activewear during the 4th quarter valued at approximately $32,000. Institutional investors own 82.83% of the company’s stock.

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.