Gildan Activewear (NYSE:GIL) Stock Price Expected to Rise, BMO Capital Markets Analyst Says

Gildan Activewear (NYSE:GIL) (TSE:GIL) had its price target hoisted by stock analysts at BMO Capital Markets from $47.00 to $58.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the textile maker’s stock. BMO Capital Markets’ price target would suggest a potential upside of 16.68% from the stock’s current price.

Several other analysts also recently commented on the stock. TD Securities boosted their target price on shares of Gildan Activewear from $50.00 to $56.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Royal Bank of Canada upped their price objective on shares of Gildan Activewear from $41.00 to $44.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Finally, Stifel Nicolaus boosted their price target on Gildan Activewear from $51.00 to $54.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $46.68.

Gildan Activewear Stock Up 1.7 %

Shares of Gildan Activewear stock traded up $0.81 on Friday, hitting $49.71. 133,431 shares of the company traded hands, compared to its average volume of 707,766. Gildan Activewear has a 12-month low of $28.95 and a 12-month high of $49.72. 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 company has a market cap of $7.80 billion, a PE ratio of 20.36, a PEG ratio of 1.83 and a beta of 1.43. The company has a 50-day moving average price of $46.31 and a 200 day moving average price of $40.77.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its quarterly earnings results on Thursday, October 31st. The textile maker reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.01. The company had revenue of $891.10 million during the quarter, compared to the consensus estimate of $882.85 million. Gildan Activewear had a return on equity of 24.96% and a net margin of 13.01%. The business’s quarterly revenue was up 2.4% on a year-over-year basis. During the same period last year, the business earned $0.74 EPS. Sell-side analysts predict that Gildan Activewear will post 2.93 earnings per share for the current year.

Institutional Investors Weigh In On Gildan Activewear

A number of institutional investors and hedge funds have recently made changes to their positions in GIL. Riverview Trust Co acquired a new stake in Gildan Activewear in the third quarter worth about $29,000. Blue Trust Inc. raised its position in shares of Gildan Activewear by 96.1% during the 3rd quarter. Blue Trust Inc. now owns 810 shares of the textile maker’s stock valued at $38,000 after acquiring an additional 397 shares during the last quarter. Natixis acquired a new position in shares of Gildan Activewear in the 1st quarter valued at $51,000. Cullen Frost Bankers Inc. bought a new position in shares of Gildan Activewear in the 2nd quarter worth $51,000. Finally, Tobam acquired a new stake in shares of Gildan Activewear during the second quarter worth $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.