Gildan Activewear (NYSE:GIL) Price Target Raised to $43.00 at Canaccord Genuity Group

Gildan Activewear (NYSE:GIL) (TSE:GIL) had its target price hoisted by research analysts at Canaccord Genuity Group from $42.00 to $43.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has a “buy” rating on the textile maker’s stock. Canaccord Genuity Group’s target price points to a potential upside of 28.24% from the stock’s current price.

Several other brokerages have also issued reports on GIL. CIBC raised their target price on Gildan Activewear from $38.00 to $41.00 and gave the company an “outperform” rating in a research report on Thursday, February 22nd. Royal Bank of Canada reiterated an “outperform” rating and issued a $41.00 target price on shares of Gildan Activewear in a research note on Monday, April 8th. Scotiabank lifted their price target on shares of Gildan Activewear from $39.50 to $40.50 and gave the stock a “sector outperform” rating in a report on Friday, February 9th. Stifel Nicolaus upped their price objective on Gildan Activewear from $34.00 to $36.00 and gave the company a “hold” rating in a research note on Thursday, February 22nd. Finally, UBS Group downgraded Gildan Activewear from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $40.00 to $37.00 in a research report on Friday, January 5th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $41.95.

Gildan Activewear Stock Down 3.1 %

GIL stock traded down $1.06 during mid-day trading on Thursday, reaching $33.53. 1,631,703 shares of the company traded hands, compared to its average volume of 812,281. The stock has a market cap of $5.65 billion, a price-to-earnings ratio of 11.15, a P/E/G ratio of 1.31 and a beta of 1.38. The firm’s 50 day moving average price is $35.59 and its 200 day moving average price is $33.97. Gildan Activewear has a fifty-two week low of $26.98 and a fifty-two week high of $38.87. The company has a quick ratio of 0.83, a current ratio of 2.33 and a debt-to-equity ratio of 0.39.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its quarterly earnings data on Wednesday, May 1st. The textile maker reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.07. Gildan Activewear had a net margin of 16.70% and a return on equity of 23.19%. The firm had revenue of $695.80 million for the quarter, compared to the consensus estimate of $692.94 million. During the same period in the previous year, the firm earned $0.45 EPS. The business’s revenue for the quarter was down 1.0% compared to the same quarter last year. As a group, equities research analysts predict that Gildan Activewear will post 2.94 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. BW Gestao de Investimentos Ltda. bought a new position in Gildan Activewear during the first quarter valued at approximately $5,570,000. Seelaus Asset Management LLC bought a new stake in Gildan Activewear in the first quarter worth $297,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Gildan Activewear during the first quarter valued at about $692,000. Fortis Group Advisors LLC purchased a new stake in Gildan Activewear during the first quarter valued at about $2,645,000. Finally, Verdence Capital Advisors LLC grew its stake in shares of Gildan Activewear by 9.1% during the first quarter. Verdence Capital Advisors LLC now owns 12,543 shares of the textile maker’s stock valued at $466,000 after buying an additional 1,049 shares during the last quarter. 82.83% of the stock is currently owned by institutional investors.

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.