TD Securities Forecasts Strong Price Appreciation for Gildan Activewear (NYSE:GIL) Stock

Gildan Activewear (NYSE:GIL) (TSE:GIL) had its target price lifted by analysts at TD Securities from $58.00 to $60.00 in a research note issued to investors on Monday,BayStreet.CA reports. The firm presently has a “buy” rating on the textile maker’s stock. TD Securities’ price target suggests a potential upside of 19.24% from the stock’s previous close.

Several other research analysts have also issued reports on GIL. Canaccord Genuity Group increased 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, November 1st. Stifel Nicolaus increased their target price on Gildan Activewear from $54.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, November 1st. BMO Capital Markets raised their price target on Gildan Activewear from $47.00 to $58.00 and gave the company an “outperform” rating in a report on Friday, November 1st. CIBC raised their price target on Gildan Activewear from $48.00 to $56.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Finally, Citigroup raised their price target on Gildan Activewear from $54.00 to $59.00 and gave the company a “buy” rating in a report on Friday, November 1st. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Gildan Activewear presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.05.

Gildan Activewear Stock Up 1.4 %

Shares of NYSE GIL traded up $0.70 during trading hours on Monday, hitting $50.32. The stock had a trading volume of 113,152 shares, compared to its average volume of 715,772. The company has a market capitalization of $7.75 billion, a P/E ratio of 19.89, a P/E/G ratio of 1.85 and a beta of 1.44. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.98 and a current ratio of 2.31. The firm’s 50-day moving average price is $48.15 and its two-hundred day moving average price is $43.03. Gildan Activewear has a 52 week low of $30.68 and a 52 week high of $50.58.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued its quarterly earnings results on Thursday, October 31st. The textile maker reported $0.85 EPS for the quarter, hitting analysts’ consensus estimates of $0.85. The company had revenue of $891.10 million during the quarter, compared to analyst estimates of $882.85 million. Gildan Activewear had a return on equity of 26.88% and a net margin of 13.06%. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.74 earnings per share. Analysts anticipate that Gildan Activewear will post 2.97 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Franklin Resources Inc. grew its stake in Gildan Activewear by 6.5% in the third quarter. Franklin Resources Inc. now owns 35,135 shares of the textile maker’s stock valued at $1,702,000 after purchasing an additional 2,138 shares in the last quarter. Synovus Financial Corp boosted its stake in Gildan Activewear by 76.1% in the 3rd quarter. Synovus Financial Corp now owns 40,798 shares of the textile maker’s stock valued at $1,922,000 after purchasing an additional 17,634 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in Gildan Activewear in the 3rd quarter valued at $597,000. Sanctuary Advisors LLC bought a new stake in shares of Gildan Activewear in the 3rd quarter valued at about $969,000. Finally, Geode Capital Management LLC boosted its position in shares of Gildan Activewear by 7.0% during the 3rd quarter. Geode Capital Management LLC now owns 637,407 shares of the textile maker’s stock valued at $29,708,000 after purchasing an additional 41,735 shares in 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.