Gildan Activewear (NYSE:GIL - Get Rating) (TSE:GIL) had its target price increased by research analysts at Canaccord Genuity Group from $37.00 to $42.50 in a note issued to investors on Monday, The Fly reports. Canaccord Genuity Group's price objective points to a potential upside of 36.79% from the company's current price.
GIL has been the subject of several other reports. TD Securities upped their target price on Gildan Activewear from $43.00 to $44.00 and gave the company a "buy" rating in a report on Friday. Desjardins dropped their price objective on Gildan Activewear from C$63.00 to C$55.00 in a research note on Friday, May 6th. Canaccord Genuity Group upped their price objective on Gildan Activewear from $37.00 to $42.50 and gave the company a "buy" rating in a research note on Friday. Stifel Nicolaus dropped their price objective on Gildan Activewear from $43.00 to $29.00 in a research note on Wednesday, July 20th. Finally, National Bank Financial dropped their price objective on Gildan Activewear from C$64.00 to C$42.00 in a research note on Tuesday, July 12th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Gildan Activewear has an average rating of "Moderate Buy" and an average target price of $44.82.
Gildan Activewear Stock Performance
Shares of GIL opened at $31.07 on Monday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.26 and a current ratio of 3.11. The stock has a 50 day moving average price of $28.85 and a two-hundred day moving average price of $33.70. The firm has a market capitalization of $5.68 billion, a P/E ratio of 8.98, a P/E/G ratio of 1.13 and a beta of 1.36. Gildan Activewear has a 52 week low of $25.67 and a 52 week high of $43.63.
Gildan Activewear (NYSE:GIL - Get Rating) (TSE:GIL) last issued its quarterly earnings data on Thursday, August 4th. The textile maker reported $0.86 EPS for the quarter, topping analysts' consensus estimates of $0.80 by $0.06. The firm had revenue of $895.60 million during the quarter, compared to analyst estimates of $820.62 million. Gildan Activewear had a return on equity of 32.51% and a net margin of 20.48%. The company's revenue for the quarter was up 19.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.68 EPS. Equities analysts forecast that Gildan Activewear will post 3.06 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the company. Crossmark Global Holdings Inc. increased its stake in Gildan Activewear by 2.7% in the second quarter. Crossmark Global Holdings Inc. now owns 20,542 shares of the textile maker's stock valued at $591,000 after acquiring an additional 533 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in Gildan Activewear by 180.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 927 shares of the textile maker's stock valued at $27,000 after acquiring an additional 597 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Gildan Activewear by 2.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 29,837 shares of the textile maker's stock valued at $1,267,000 after acquiring an additional 685 shares during the last quarter. Benjamin Edwards Inc. bought a new position in Gildan Activewear in the fourth quarter valued at $30,000. Finally, Allspring Global Investments Holdings LLC increased its stake in Gildan Activewear by 0.5% in the second quarter. Allspring Global Investments Holdings LLC now owns 132,666 shares of the textile maker's stock valued at $3,818,000 after acquiring an additional 710 shares during the last quarter. Institutional investors own 75.31% of the company's stock.
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, Comfort Colors, American Apparel, Alstyle, and GoldToe brands.
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