Stifel Nicolaus Forecasts Strong Price Appreciation for Gildan Activewear (NYSE:GIL) Stock

Gildan Activewear (NYSE:GIL) (TSE:GIL) had its price objective increased by research analysts at Stifel Nicolaus from $54.00 to $60.00 in a research note issued on Friday, BayStreet.CA reports. The brokerage currently has a “buy” rating on the textile maker’s stock. Stifel Nicolaus’ price target points to a potential upside of 20.82% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on GIL. Canaccord Genuity Group boosted their price objective on Gildan Activewear from $52.00 to $53.00 and gave the stock a “buy” rating in a research note on Friday. Citigroup boosted their target price on Gildan Activewear from $54.00 to $59.00 and gave the company a “buy” rating in a research report on Friday. TD Securities increased their price target on Gildan Activewear from $56.00 to $58.00 and gave the company a “buy” rating in a report on Friday. Royal Bank of Canada lifted their price objective on shares of Gildan Activewear from $41.00 to $44.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Finally, BMO Capital Markets increased their target price on shares of Gildan Activewear from $47.00 to $58.00 and gave the company an “outperform” rating in a research note on Friday. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $51.05.

Gildan Activewear Stock Up 1.6 %

Shares of GIL opened at $49.66 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.35 and a quick ratio of 0.97. The stock has a market capitalization of $7.80 billion, a price-to-earnings ratio of 19.63, a price-to-earnings-growth ratio of 1.85 and a beta of 1.44. Gildan Activewear has a 1 year low of $28.95 and a 1 year high of $49.92. The business’s 50 day simple moving average is $46.45 and its 200-day simple moving average is $40.90.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last released its quarterly earnings data on Thursday, October 31st. The textile maker reported $0.85 EPS for the quarter, beating the consensus estimate of $0.84 by $0.01. Gildan Activewear had a net margin of 13.06% and a return on equity of 25.66%. The business had revenue of $891.10 million during the quarter, compared to analyst estimates of $882.85 million. During the same quarter last year, the business earned $0.74 earnings per share. Gildan Activewear’s quarterly revenue was up 2.4% compared to the same quarter last year. As a group, equities analysts expect that Gildan Activewear will post 2.93 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Gildan Activewear

Several large investors have recently modified their holdings of the business. Riverview Trust Co bought a new position in shares of Gildan Activewear during the third quarter valued at approximately $29,000. Blue Trust Inc. boosted its holdings in shares of Gildan Activewear by 96.1% in the 3rd quarter. Blue Trust Inc. now owns 810 shares of the textile maker’s stock valued at $38,000 after buying an additional 397 shares in the last quarter. Cullen Frost Bankers Inc. purchased a new position in shares of Gildan Activewear in the 2nd quarter worth approximately $51,000. Natixis bought a new position in shares of Gildan Activewear during the 1st quarter worth approximately $51,000. Finally, Tobam purchased a new stake in Gildan Activewear during the second quarter valued at approximately $53,000. 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.