Gildan Activewear (NYSE:GIL) Stock Price Expected to Rise, CIBC Analyst Says

Key Points

• CIBC has increased its price target for Gildan Activewear from $56.00 to $60.00, suggesting a potential upside of 17.35% from the current price.
• Gildan Activewear reported an earnings per share (EPS) of $0.97 for the last quarter, surpassing the consensus estimate of $0.96 and showing a year-over-year revenue increase of 6.5%.
• Analysts have largely maintained a positive outlook on Gildan Activewear, with a consensus recommendation of “Buy” and an average price target of $60.92.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL had its price target upped by CIBC from $56.00 to $60.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has an "outperformer" rating on the textile maker's stock. CIBC's price objective suggests a potential upside of 17.35% from the company's current price.

Other research analysts have also issued research reports about the stock. National Bankshares increased their price target on shares of Gildan Activewear from $78.00 to $80.00 and gave the stock an "outperform" rating in a research note on Friday. Scotiabank raised their price objective on shares of Gildan Activewear from $55.00 to $59.00 and gave the stock an "outperform" rating in a report on Friday. TD Securities lifted their price target on shares of Gildan Activewear from $56.00 to $60.00 and gave the company a "buy" rating in a report on Wednesday, April 30th. Barclays lifted their price target on shares of Gildan Activewear from $51.00 to $56.00 and gave the stock an "overweight" rating in a research report on Friday. Finally, UBS Group boosted their price objective on shares of Gildan Activewear from $56.00 to $70.00 and gave the company a "buy" rating in a report on Tuesday. Eleven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Gildan Activewear presently has an average rating of "Buy" and a consensus price target of $60.92.

Gildan Activewear Stock Up 1.2%

Gildan Activewear stock traded up $0.62 during trading on Friday, reaching $51.13. 781,511 shares of the company's stock were exchanged, compared to its average volume of 647,961. 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 company's 50-day moving average is $49.44 and its two-hundred day moving average is $48.25. The firm has a market cap of $7.66 billion, a price-to-earnings ratio of 19.74, a PEG 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 posted its earnings results on Thursday, July 31st. The textile maker reported $0.97 EPS for the quarter, topping the consensus estimate of $0.96 by $0.01. The firm had revenue of $918.50 million during the quarter, compared to analysts' expectations of $908.41 million. Gildan Activewear had a net margin of 12.38% and a return on equity of 30.61%. Gildan Activewear's quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.74 EPS. On average, analysts predict that Gildan Activewear will post 3.48 earnings per share for the current year.

Hedge Funds Weigh In On Gildan Activewear

Several institutional investors and hedge funds have recently modified their holdings of the business. DekaBank Deutsche Girozentrale lifted its holdings in shares of Gildan Activewear by 0.3% in the second quarter. DekaBank Deutsche Girozentrale now owns 73,619 shares of the textile maker's stock worth $3,612,000 after acquiring an additional 231 shares during the last quarter. Syon Capital LLC grew its position in Gildan Activewear by 3.9% in the 4th quarter. Syon Capital LLC now owns 6,524 shares of the textile maker's stock valued at $307,000 after purchasing an additional 242 shares during the period. Cooper Financial Group grew its position in Gildan Activewear by 1.7% in the 1st quarter. Cooper Financial Group now owns 16,537 shares of the textile maker's stock valued at $731,000 after purchasing an additional 269 shares during the period. Haven Private LLC grew its position in Gildan Activewear by 3.4% in the 1st quarter. Haven Private LLC now owns 8,653 shares of the textile maker's stock valued at $383,000 after purchasing an additional 284 shares during the period. Finally, Huntington National Bank boosted its holdings in Gildan Activewear by 16.4% during the 4th quarter. Huntington National Bank now owns 2,803 shares of the textile maker's stock worth $132,000 after acquiring an additional 395 shares during the last quarter. 82.83% of the stock is currently owned by institutional investors and hedge funds.

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.

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