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

Gildan Activewear (NYSE:GIL) (TSE:GIL) had its price objective hoisted by analysts at Canaccord Genuity Group from $42.00 to $43.00 in a report issued 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.

Other equities research analysts have also issued reports about the company. UBS Group lowered Gildan Activewear from a “buy” rating to a “neutral” rating and decreased their target price for the company from $40.00 to $37.00 in a research report on Friday, January 5th. CIBC raised their target price on shares of Gildan Activewear from $38.00 to $41.00 and gave the company an “outperform” rating in a research report on Thursday, February 22nd. Scotiabank upped their price target on shares of Gildan Activewear from $39.50 to $40.50 and gave the stock a “sector outperform” rating in a research report on Friday, February 9th. Royal Bank of Canada reissued an “outperform” rating and set a $41.00 price objective on shares of Gildan Activewear in a report on Monday, April 8th. Finally, Stifel Nicolaus upped their target price on Gildan Activewear from $34.00 to $36.00 and gave the stock a “hold” rating in a report on Thursday, February 22nd. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $41.95.

Gildan Activewear Trading Down 3.1 %

Shares of NYSE GIL traded down $1.06 during midday trading on Thursday, hitting $33.53. The company’s stock had a trading volume of 1,631,703 shares, compared to its average volume of 812,281. The business’s 50 day moving average is $35.59 and its two-hundred day moving average is $33.97. Gildan Activewear has a 12-month low of $26.98 and a 12-month high of $38.87. The company has a current ratio of 2.33, a quick ratio of 0.83 and a debt-to-equity ratio of 0.39. The firm has a market cap of $5.65 billion, a P/E ratio of 11.15, a price-to-earnings-growth ratio of 1.31 and a beta of 1.38.

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

Hedge Funds Weigh In On Gildan Activewear

Several hedge funds have recently made changes to their positions in the company. Byrne Asset Management LLC acquired a new stake in Gildan Activewear during the 3rd quarter valued at approximately $34,000. CWM LLC lifted its holdings in shares of Gildan Activewear by 86.5% in the 4th quarter. CWM LLC now owns 1,074 shares of the textile maker’s stock valued at $35,000 after buying an additional 498 shares during the period. EverSource Wealth Advisors LLC grew its holdings in Gildan Activewear by 120.6% during the third quarter. EverSource Wealth Advisors LLC now owns 1,646 shares of the textile maker’s stock worth $46,000 after acquiring an additional 900 shares during the period. Tower Research Capital LLC TRC raised its position in Gildan Activewear by 529.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,215 shares of the textile maker’s stock valued at $73,000 after acquiring an additional 1,863 shares in the last quarter. Finally, Dixon Mitchell Investment Counsel Inc. acquired a new position in Gildan Activewear in the first quarter valued at approximately $84,000. 82.83% of the stock is owned by institutional investors and hedge funds.

Gildan Activewear Company Profile

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.