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

Gildan Activewear (NYSE:GIL) (TSE:GIL) had its target price upped by analysts at TD Securities from $58.00 to $60.00 in a research note issued on Monday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the textile maker’s stock. TD Securities’ price objective would indicate a potential upside of 19.24% from the company’s current price.

Other analysts also recently issued reports about the company. Citigroup increased their price objective on Gildan Activewear from $54.00 to $59.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Canaccord Genuity Group increased their price target on Gildan Activewear from $52.00 to $53.00 and gave the company a “buy” rating in a research report on Friday, November 1st. BMO Capital Markets increased their price target on Gildan Activewear from $47.00 to $58.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Stifel Nicolaus increased their price target on Gildan Activewear from $54.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, CIBC increased their price target on Gildan Activewear from $48.00 to $56.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $51.05.

Gildan Activewear Stock Up 1.4 %

GIL stock traded up $0.70 during trading on Monday, reaching $50.32. 113,152 shares of the stock were exchanged, compared to its average volume of 715,772. The firm’s 50 day moving average is $48.15 and its 200 day moving average is $43.03. Gildan Activewear has a twelve month low of $30.68 and a twelve month high of $50.58. The company has a current ratio of 2.31, a quick ratio of 0.98 and a debt-to-equity ratio of 0.81. The firm has a market cap of $7.75 billion, a P/E ratio of 19.89, a price-to-earnings-growth ratio of 1.85 and a beta of 1.44.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its quarterly earnings results on Thursday, October 31st. The textile maker reported $0.85 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.85. Gildan Activewear had a return on equity of 26.88% and a net margin of 13.06%. The business had revenue of $891.10 million for the quarter, compared to the consensus estimate of $882.85 million. During the same period in the prior year, the business earned $0.74 EPS. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. As a group, research analysts forecast that Gildan Activewear will post 2.97 EPS for the current year.

Institutional Trading of Gildan Activewear

A number of hedge funds and other institutional investors have recently bought and sold shares of GIL. Cooke & Bieler LP boosted its stake in Gildan Activewear by 2.7% during the second quarter. Cooke & Bieler LP now owns 10,252,785 shares of the textile maker’s stock valued at $388,786,000 after buying an additional 271,273 shares during the period. Janus Henderson Group PLC lifted its position in Gildan Activewear by 3.6% during the third quarter. Janus Henderson Group PLC now owns 6,841,572 shares of the textile maker’s stock valued at $322,298,000 after purchasing an additional 240,375 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Gildan Activewear by 14.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,568,733 shares of the textile maker’s stock worth $97,290,000 after buying an additional 324,304 shares during the last quarter. Simcoe Capital Management LLC grew its position in Gildan Activewear by 10.5% in the third quarter. Simcoe Capital Management LLC now owns 2,387,865 shares of the textile maker’s stock worth $112,492,000 after acquiring an additional 226,695 shares in the last quarter. Finally, EdgePoint Investment Group Inc. grew its position in Gildan Activewear by 28.0% in the second quarter. EdgePoint Investment Group Inc. now owns 1,863,618 shares of the textile maker’s stock worth $70,696,000 after acquiring an additional 407,113 shares in the last quarter. Institutional investors own 82.83% of the company’s stock.

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.