Royal Bank Of Canada Cuts Gildan Activewear (NYSE:GIL) Price Target to $78.00

Gildan Activewear (NYSE:GIL) (TSE:GIL) had its price target dropped by investment analysts at Royal Bank Of Canada from $79.00 to $78.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has an “outperform” rating on the textile maker’s stock. Royal Bank Of Canada’s target price would indicate a potential upside of 16.32% from the company’s previous close.

Several other research analysts have also recently weighed in on the stock. TD Securities reissued a “buy” rating and issued a $77.00 price target on shares of Gildan Activewear in a report on Tuesday, January 27th. Weiss Ratings reiterated a “buy (b)” rating on shares of Gildan Activewear in a research note on Monday, December 29th. UBS Group reissued a “buy” rating and set a $110.00 price target (up from $80.00) on shares of Gildan Activewear in a report on Tuesday, December 16th. Zacks Research lowered Gildan Activewear from a “hold” rating to a “strong sell” rating in a report on Monday, February 23rd. Finally, Canadian Imperial Bank of Commerce reissued an “outperform” rating and set a $79.00 target price on shares of Gildan Activewear in a report on Friday, February 20th. Thirteen research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Gildan Activewear presently has a consensus rating of “Moderate Buy” and a consensus target price of $80.08.

Gildan Activewear Stock Performance

Shares of NYSE GIL traded down $1.04 during midday trading on Monday, hitting $67.06. 928,956 shares of the company’s stock were exchanged, compared to its average volume of 1,234,158. Gildan Activewear has a 12 month low of $37.16 and a 12 month high of $73.69. The company’s 50 day moving average price is $66.66 and its 200 day moving average price is $60.85. The company has a quick ratio of 1.05, a current ratio of 2.11 and a debt-to-equity ratio of 1.16. The firm has a market capitalization of $12.42 billion, a PE ratio of 25.58 and a beta of 1.05.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last announced its quarterly earnings results on Thursday, February 26th. The textile maker reported $0.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.31 by ($0.35). Gildan Activewear had a net margin of 11.02% and a return on equity of 27.32%. The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same period in the prior year, the business earned $0.83 EPS. The company’s revenue for the quarter was up 31.1% compared to the same quarter last year. Gildan Activewear has set its FY 2026 guidance at 4.200-4.400 EPS. As a group, analysts predict that Gildan Activewear will post 3.48 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Gildan Activewear

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Caisse de depot et placement du Quebec boosted its position in shares of Gildan Activewear by 1,695.7% during the 4th quarter. Caisse de depot et placement du Quebec now owns 6,240,014 shares of the textile maker’s stock worth $390,539,000 after acquiring an additional 5,892,514 shares in the last quarter. Norges Bank acquired a new stake in shares of Gildan Activewear in the 4th quarter valued at $151,018,000. Mackenzie Financial Corp boosted its holdings in shares of 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 purchasing an additional 2,001,279 shares in the last quarter. Brandes Investment Partners LP bought a new position in shares of Gildan Activewear in the 4th quarter valued at $99,870,000. Finally, Vanguard Group Inc. grew its position in Gildan Activewear by 26.0% in the fourth quarter. Vanguard Group Inc. now owns 7,566,962 shares of the textile maker’s stock valued at $472,964,000 after acquiring an additional 1,561,729 shares during the last quarter. 82.83% of the stock is currently owned by institutional investors and hedge funds.

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.