Stifel Nicolaus Forecasts Strong Price Appreciation for Gildan Activewear (NYSE:GIL) Stock

Key Points

• Stifel Nicolaus has raised its target price for Gildan Activewear from $65.00 to $75.00, indicating a potential upside of 33.57% from its current price.
• Gildan Activewear reported earnings of $0.97 per share for the last quarter, surpassing estimates and showing a 6.5% increase in revenue compared to the previous year.
• Analysts maintain a favorable outlook with a majority giving the stock a “buy” or “outperform” rating, resulting in an average price target of $64.58.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL had its target price increased by analysts at Stifel Nicolaus from $65.00 to $75.00 in a report issued on Thursday,BayStreet.CA reports. The firm presently has a "buy" rating on the textile maker's stock. Stifel Nicolaus' price objective would suggest a potential upside of 33.57% from the stock's current price.

Several other research analysts have also recently commented on GIL. TD Securities raised their target price on shares of Gildan Activewear from $56.00 to $60.00 and gave the stock a "buy" rating in a report on Wednesday, April 30th. National Bankshares reiterated an "outperform" rating on shares of Gildan Activewear in a report on Thursday. Royal Bank Of Canada set a $68.00 price target on shares of Gildan Activewear and gave the stock an "outperform" rating in a report on Thursday. Wall Street Zen upgraded shares of Gildan Activewear from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Finally, CIBC raised their price target on shares of Gildan Activewear from $56.00 to $60.00 and gave the stock an "outperformer" rating in a report on Friday, August 1st. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, Gildan Activewear presently has an average rating of "Moderate Buy" and an average price target of $64.58.

Gildan Activewear Price Performance

Shares of GIL traded up $1.22 during mid-day trading on Thursday, hitting $56.15. The company's stock had a trading volume of 2,561,490 shares, compared to its average volume of 694,433. The firm has a 50-day moving average price of $50.13 and a 200 day moving average price of $48.35. The stock has a market capitalization of $8.38 billion, a price-to-earnings ratio of 17.83, a PEG ratio of 1.57 and a beta of 1.17. The company has a debt-to-equity ratio of 1.37, a current ratio of 3.87 and a quick ratio of 1.67. Gildan Activewear has a fifty-two week low of $37.16 and a fifty-two week high of $57.76.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last announced its quarterly earnings data on Thursday, July 31st. The textile maker reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.01. The company had revenue of $918.50 million for the quarter, compared to analysts' expectations of $908.41 million. Gildan Activewear had a net margin of 14.55% and a return on equity of 34.31%. The business's revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.74 EPS. On average, research analysts predict that Gildan Activewear will post 3.48 EPS for the current fiscal year.

Hedge Funds Weigh In On Gildan Activewear

Institutional investors have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Gildan Activewear in the first quarter valued at approximately $1,072,000. Sumitomo Mitsui Trust Group Inc. bought a new position in shares of Gildan Activewear in the first quarter valued at approximately $474,000. Polar Asset Management Partners Inc. raised its position in shares of Gildan Activewear by 55.6% in the fourth quarter. Polar Asset Management Partners Inc. now owns 26,450 shares of the textile maker's stock valued at $1,244,000 after purchasing an additional 9,450 shares during the period. Aigen Investment Management LP increased its position in Gildan Activewear by 243.7% during the first quarter. Aigen Investment Management LP now owns 26,356 shares of the textile maker's stock worth $1,165,000 after acquiring an additional 18,688 shares during the period. Finally, Shell Asset Management Co. increased its position in Gildan Activewear by 250.0% during the fourth quarter. Shell Asset Management Co. now owns 27,721 shares of the textile maker's stock worth $1,304,000 after acquiring an additional 19,800 shares during the period. 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.

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