Canaccord Genuity Group Increases Gildan Activewear (NYSE:GIL) Price Target to $43.00

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL had its price target boosted by research analysts at Canaccord Genuity Group from $42.00 to $43.00 in a report released on Thursday, Benzinga reports. The brokerage currently has a "buy" rating on the textile maker's stock. Canaccord Genuity Group's price objective would indicate a potential upside of 28.21% from the company's current price.

Several other research firms also recently weighed in on GIL. Canaccord Genuity Group increased their price target on shares of Gildan Activewear from $42.00 to $43.00 and gave the stock a "buy" rating in a research report on Thursday. Scotiabank raised their target price on Gildan Activewear from $39.50 to $40.50 and gave the stock a "sector outperform" rating in a report on Friday, February 9th. Royal Bank of Canada reissued an "outperform" rating and set a $41.00 price target on shares of Gildan Activewear in a report on Monday, April 8th. UBS Group downgraded Gildan Activewear from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $40.00 to $37.00 in a research note on Friday, January 5th. Finally, Stifel Nicolaus lifted their price objective on Gildan Activewear from $34.00 to $36.00 and gave the company a "hold" rating in a research report on Thursday, February 22nd. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $41.95.

Gildan Activewear Stock Performance

Shares of GIL traded down $1.05 during trading hours on Thursday, hitting $33.54. The stock had a trading volume of 1,644,155 shares, compared to its average volume of 814,972. Gildan Activewear has a 12 month low of $26.98 and a 12 month high of $38.87. The stock has a fifty day moving average price of $35.56 and a 200 day moving average price of $33.97. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.33 and a quick ratio of 0.83. The firm has a market capitalization of $5.65 billion, a PE ratio of 11.07, a PEG ratio of 1.31 and a beta of 1.38.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last released its quarterly earnings results on Wednesday, May 1st. The textile maker reported $0.59 EPS for the quarter, beating the consensus estimate of $0.52 by $0.07. Gildan Activewear had a net margin of 16.70% and a return on equity of 23.19%. The firm had revenue of $695.80 million during the quarter, compared to analyst estimates of $692.94 million. During the same quarter in the prior year, the firm earned $0.45 EPS. The business's revenue for the quarter was down 1.0% compared to the same quarter last year. Analysts anticipate that Gildan Activewear will post 2.94 EPS for the current year.

Institutional Investors Weigh In On Gildan Activewear

Institutional investors and hedge funds have recently modified their holdings of the stock. Norges Bank purchased a new position in Gildan Activewear during the fourth quarter valued at $70,917,000. Browning West LP lifted its position in shares of Gildan Activewear by 30.0% in the fourth quarter. Browning West LP now owns 8,640,448 shares of the textile maker's stock worth $285,653,000 after buying an additional 1,994,900 shares in the last quarter. Vaughan Nelson Investment Management L.P. bought a new position in Gildan Activewear during the fourth quarter valued at approximately $34,456,000. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Gildan Activewear by 130.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 925,970 shares of the textile maker's stock valued at $25,952,000 after buying an additional 524,691 shares in the last quarter. Finally, Strs Ohio raised its holdings in shares of Gildan Activewear by 443.6% during the 4th quarter. Strs Ohio now owns 588,202 shares of the textile maker's stock worth $19,547,000 after acquiring an additional 480,000 shares in the last quarter. Institutional investors own 82.83% 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, Glidan Softstyle, Gildan Heavy Cotton, Gildan Ultra Cotton, Gildan DryBlend, Gildan HeavyBlend, Comfort Colors, and American Apparel brands.