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

Gildan Activewear (NYSE:GIL) (TSE:GIL) had its price target cut by investment analysts at Scotiabank from $74.00 to $72.00 in a note issued to investors on Monday,BayStreet.CA reports. The firm currently has a “sector outperform” rating on the textile maker’s stock. Scotiabank’s price objective suggests a potential upside of 22.85% from the company’s current price.

Other research analysts have also recently issued research reports about the stock. Canadian Imperial Bank of Commerce reissued an “outperform” rating and issued a $77.00 target price on shares of Gildan Activewear in a report on Friday. TD Securities reissued a “buy” rating and issued a $77.00 target price on shares of Gildan Activewear in a report on Tuesday, January 27th. National Bank Financial increased their target price on shares of Gildan Activewear from $92.00 to $97.00 and gave the stock an “outperform” rating in a report on Monday, February 2nd. Zacks Research cut shares of Gildan Activewear from a “hold” rating to a “strong sell” rating in a report on Monday, February 23rd. Finally, Royal Bank Of Canada dropped their target price on shares of Gildan Activewear from $79.00 to $78.00 and set an “outperform” rating for the company in a report on Monday, March 2nd. Thirteen equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $79.77.

Gildan Activewear Price Performance

Gildan Activewear stock traded down $2.90 during trading hours on Monday, reaching $58.61. 507,634 shares of the stock were exchanged, compared to its average volume of 1,321,178. The company has a market cap of $10.85 billion, a P/E ratio of 34.51 and a beta of 1.10. The company has a current ratio of 2.11, a quick ratio of 1.05 and a debt-to-equity ratio of 1.16. Gildan Activewear has a twelve month low of $46.00 and a twelve month high of $73.69. The stock has a 50 day moving average of $60.14 and a two-hundred day moving average of $61.52.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its earnings results on Thursday, April 30th. The textile maker reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.07. The firm had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.14 billion. Gildan Activewear had a net margin of 6.10% and a return on equity of 24.48%. The business’s revenue for the quarter was up 63.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.59 earnings per share. Gildan Activewear has set its FY 2026 guidance at 4.200-4.400 EPS. Equities analysts expect that Gildan Activewear will post 4.26 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in GIL. Caisse de depot et placement du Quebec raised its holdings in Gildan Activewear by 1,695.7% in the 4th quarter. Caisse de depot et placement du Quebec now owns 6,240,014 shares of the textile maker’s stock valued at $390,539,000 after buying an additional 5,892,514 shares during the last quarter. Norges Bank bought a new position in Gildan Activewear in the 4th quarter valued at approximately $151,018,000. Mackenzie Financial Corp raised its holdings in Gildan Activewear by 41.2% in the 4th quarter. Mackenzie Financial Corp now owns 6,860,108 shares of the textile maker’s stock valued at $429,382,000 after buying an additional 2,001,279 shares during the last quarter. Brandes Investment Partners LP acquired a new stake in Gildan Activewear during the 4th quarter valued at approximately $99,870,000. Finally, Vanguard Group Inc. increased its position in Gildan Activewear by 26.0% during the 4th quarter. Vanguard Group Inc. now owns 7,566,962 shares of the textile maker’s stock valued at $472,964,000 after purchasing an additional 1,561,729 shares during the period. Institutional investors own 82.83% of the company’s stock.

About Gildan Activewear

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.