Gildan Activewear (NYSE:GIL) Stock Rating Reaffirmed by Royal Bank of Canada

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL's stock had its "outperform" rating reiterated by analysts at Royal Bank of Canada in a research report issued to clients and investors on Monday, Benzinga reports. They currently have a $41.00 price objective on the textile maker's stock. Royal Bank of Canada's price objective would indicate a potential upside of 12.48% from the company's previous close.

GIL has been the topic of a number of other research reports. Stifel Nicolaus upped their price target on Gildan Activewear from $34.00 to $36.00 and gave the stock a "hold" rating in a report on Thursday, February 22nd. Scotiabank increased their target price on Gildan Activewear from $39.50 to $40.50 and gave the company a "sector outperform" rating in a report on Friday, February 9th. CIBC increased their target price on Gildan Activewear from $38.00 to $41.00 and gave the company an "outperform" rating in a report on Thursday, February 22nd. UBS Group cut Gildan Activewear from a "buy" rating to a "neutral" rating and lowered their target price for the company from $40.00 to $37.00 in a report on Friday, January 5th. Finally, TD Securities increased their target price on Gildan Activewear from $42.00 to $46.00 and gave the company a "buy" rating in a report on Wednesday, March 20th. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $41.25.

Gildan Activewear Stock Performance

GIL traded up $0.27 on Monday, hitting $36.45. 678,215 shares of the company traded hands, compared to its average volume of 834,072. The company has a 50 day moving average of $35.04 and a 200-day moving average of $33.07. The company has a quick ratio of 0.83, a current ratio of 2.33 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $6.14 billion, a PE ratio of 11.89, a PEG ratio of 1.37 and a beta of 1.38. Gildan Activewear has a 12-month low of $26.98 and a 12-month high of $38.87.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last issued its earnings results on Wednesday, February 21st. The textile maker reported $0.75 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.72 by $0.03. The business had revenue of $782.70 million during the quarter, compared to the consensus estimate of $753.35 million. Gildan Activewear had a return on equity of 23.19% and a net margin of 16.70%. The company's revenue for the quarter was up 8.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.65 EPS. Sell-side analysts anticipate that Gildan Activewear will post 2.94 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in GIL. American Century Companies Inc. raised its position in shares of Gildan Activewear by 38.6% in the 1st quarter. American Century Companies Inc. now owns 41,005 shares of the textile maker's stock worth $1,538,000 after buying an additional 11,413 shares during the period. Citigroup Inc. raised its position in Gildan Activewear by 41.5% in the first quarter. Citigroup Inc. now owns 32,700 shares of the textile maker's stock valued at $1,227,000 after purchasing an additional 9,597 shares during the period. PNC Financial Services Group Inc. raised its position in Gildan Activewear by 36.1% in the first quarter. PNC Financial Services Group Inc. now owns 3,381 shares of the textile maker's stock valued at $127,000 after purchasing an additional 896 shares during the period. Natixis Advisors L.P. raised its position in Gildan Activewear by 35.8% in the first quarter. Natixis Advisors L.P. now owns 19,786 shares of the textile maker's stock valued at $742,000 after purchasing an additional 5,212 shares during the period. Finally, Synovus Financial Corp raised its position in Gildan Activewear by 29.4% in the first quarter. Synovus Financial Corp now owns 33,700 shares of the textile maker's stock valued at $1,268,000 after purchasing an additional 7,662 shares during the period. 82.83% of the stock is owned by hedge funds and other institutional investors.

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.