Stifel Nicolaus Increases Gildan Activewear (NYSE:GIL) Price Target to $54.00

Gildan Activewear (NYSE:GIL) (TSE:GIL) had its price target hoisted by Stifel Nicolaus from $51.00 to $54.00 in a report released on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the textile maker’s stock. Stifel Nicolaus’ target price points to a potential upside of 15.36% from the stock’s current price.

GIL has been the topic of several other reports. BMO Capital Markets raised their target price on Gildan Activewear from $43.00 to $47.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Royal Bank of Canada upped their target price on Gildan Activewear from $41.00 to $44.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $44.77.

Gildan Activewear Trading Down 0.3 %

Shares of NYSE:GIL opened at $46.81 on Thursday. Gildan Activewear has a 12-month low of $27.24 and a 12-month high of $47.75. The company has a quick ratio of 0.97, a current ratio of 2.35 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $7.76 billion, a P/E ratio of 15.81, a price-to-earnings-growth ratio of 1.77 and a beta of 1.43. The firm has a fifty day moving average of $43.64 and a two-hundred day moving average of $39.20.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its earnings results on Thursday, August 1st. The textile maker reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.03. Gildan Activewear had a net margin of 13.01% and a return on equity of 24.96%. The firm had revenue of $862.20 million during the quarter, compared to analysts’ expectations of $851.10 million. During the same period in the previous year, the company earned $0.63 earnings per share. The company’s revenue was up 2.6% compared to the same quarter last year. On average, equities analysts expect that Gildan Activewear will post 2.92 EPS for the current fiscal year.

Hedge Funds Weigh In On Gildan Activewear

A number of hedge funds have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. acquired a new position in Gildan Activewear during the first quarter worth $692,000. Canada Pension Plan Investment Board increased its stake in shares of Gildan Activewear by 16.1% in the first quarter. Canada Pension Plan Investment Board now owns 563,498 shares of the textile maker’s stock valued at $20,933,000 after buying an additional 78,338 shares in the last quarter. Browning West LP raised its holdings in shares of Gildan Activewear by 30.0% in the fourth quarter. Browning West LP now owns 8,640,448 shares of the textile maker’s stock valued at $285,653,000 after buying an additional 1,994,900 shares during the last quarter. Virtu Financial LLC acquired a new position in Gildan Activewear during the 4th quarter worth about $859,000. Finally, Game Plan Financial Advisors LLC increased its position in Gildan Activewear by 101.7% in the 1st quarter. Game Plan Financial Advisors LLC now owns 64,268 shares of the textile maker’s stock valued at $2,386,000 after acquiring an additional 32,397 shares in the last quarter. Institutional investors and hedge funds own 82.83% of the company’s stock.

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.