Barclays Boosts Gildan Activewear (NYSE:GIL) Price Target to $56.00

Key Points

• Barclays raised Gildan Activewear's price target to $56.00, reflecting a potential upside of 11.12% from the stock's previous close, maintaining an "overweight" rating.
• Gildan Activewear reported a quarterly EPS of $0.97, exceeding the expected $0.96, with year-over-year revenue growth of 6.5% to $918.50 million.
• The stock currently holds an average rating of "Buy" among analysts, with ten analysts recommending a buy and one a strong buy, alongside an average price target of $58.45.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL had its price objective upped by investment analysts at Barclays from $51.00 to $56.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an "overweight" rating on the textile maker's stock. Barclays's price objective would suggest a potential upside of 11.12% from the stock's previous close.

Other equities analysts have also issued reports about the company. Scotiabank raised Gildan Activewear to a "strong-buy" rating and set a $55.00 target price for the company in a report on Wednesday, May 28th. CIBC reduced their target price on Gildan Activewear from $60.00 to $56.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. TD Securities upped their target price on Gildan Activewear from $56.00 to $60.00 and gave the company a "buy" rating in a report on Wednesday, April 30th. Finally, UBS Group upped their target price on Gildan Activewear from $56.00 to $70.00 and gave the company a "buy" rating in a report on Tuesday. Ten equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $58.45.

Gildan Activewear Stock Performance

Shares of GIL opened at $50.40 on Friday. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.59 and a current ratio of 3.91. The stock has a 50 day moving average price of $49.44 and a two-hundred day moving average price of $48.25. The firm has a market capitalization of $7.56 billion, a P/E ratio of 19.52, a P/E/G ratio of 1.66 and a beta of 1.19. Gildan Activewear has a 52 week low of $37.16 and a 52 week high of $55.39.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last issued its quarterly earnings data on Thursday, July 31st. The textile maker reported $0.97 EPS for the quarter, topping analysts' consensus estimates of $0.96 by $0.01. The firm had revenue of $918.50 million during the quarter, compared to analyst estimates of $908.41 million. Gildan Activewear had a return on equity of 30.61% and a net margin of 12.38%. The company's revenue for the quarter was up 6.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.74 EPS. Equities analysts forecast that Gildan Activewear will post 3.48 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Gildan Activewear

Several institutional investors and hedge funds have recently bought and sold shares of the company. DekaBank Deutsche Girozentrale grew its holdings in Gildan Activewear by 0.3% during the second quarter. DekaBank Deutsche Girozentrale now owns 73,619 shares of the textile maker's stock valued at $3,612,000 after purchasing an additional 231 shares during the period. Syon Capital LLC lifted its position in shares of Gildan Activewear by 3.9% during the fourth quarter. Syon Capital LLC now owns 6,524 shares of the textile maker's stock worth $307,000 after acquiring an additional 242 shares in the last quarter. Cooper Financial Group lifted its position in shares of Gildan Activewear by 1.7% during the first quarter. Cooper Financial Group now owns 16,537 shares of the textile maker's stock worth $731,000 after acquiring an additional 269 shares in the last quarter. Haven Private LLC lifted its position in shares of Gildan Activewear by 3.4% during the first quarter. Haven Private LLC now owns 8,653 shares of the textile maker's stock worth $383,000 after acquiring an additional 284 shares in the last quarter. Finally, Huntington National Bank lifted its position in shares of Gildan Activewear by 16.4% during the fourth quarter. Huntington National Bank now owns 2,803 shares of the textile maker's stock worth $132,000 after acquiring an additional 395 shares in the last quarter. 82.83% of the stock is owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.