TD Cowen Forecasts Strong Price Appreciation for Gildan Activewear (NYSE:GIL) Stock

Key Points

• TD Cowen has raised the price target for Gildan Activewear from $67.00 to $73.00, indicating a potential upside of 19.22% from the current stock price.
• Gildan Activewear's Q2 earnings surpassed expectations, reporting $0.97 EPS and revenue of $918.5 million, reflecting a 6.5% year-over-year increase.
• The stock currently holds a consensus rating of "Moderate Buy" from analysts, with 13 out of 14 rating it a "Buy".

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL had its price target increased by equities researchers at TD Cowen from $67.00 to $73.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a "buy" rating on the textile maker's stock. TD Cowen's target price would suggest a potential upside of 19.22% from the company's current price.

Other analysts have also recently issued reports about the company. Weiss Ratings reissued a "buy (b)" rating on shares of Gildan Activewear in a research report on Saturday, September 27th. Stifel Nicolaus set a $75.00 price target on shares of Gildan Activewear and gave the company a "buy" rating in a research report on Friday, September 19th. Barclays lifted their target price on shares of Gildan Activewear from $51.00 to $56.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. CIBC lifted their target price on shares of Gildan Activewear from $56.00 to $60.00 and gave the stock an "outperformer" rating in a research report on Friday, August 1st. Finally, Citigroup set a $60.00 target price on shares of Gildan Activewear and gave the stock a "buy" rating in a research report on Thursday, August 14th. Thirteen investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $66.23.

Gildan Activewear Stock Up 0.4%

NYSE GIL traded up $0.27 on Monday, hitting $61.23. 84,218 shares of the stock were exchanged, compared to its average volume of 798,612. The company has a quick ratio of 1.67, a current ratio of 3.87 and a debt-to-equity ratio of 1.37. Gildan Activewear has a fifty-two week low of $37.16 and a fifty-two week high of $61.29. The company has a market cap of $9.13 billion, a PE ratio of 19.39, a PEG ratio of 1.96 and a beta of 1.20. The company has a 50-day moving average price of $54.76 and a 200-day moving average price of $49.57.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last issued its earnings results on Thursday, July 31st. The textile maker reported $0.97 EPS for the quarter, topping analysts' consensus estimates of $0.96 by $0.01. The firm had revenue of $918.50 million during the quarter, compared to the consensus estimate of $908.41 million. Gildan Activewear had a net margin of 14.55% and a return on equity of 34.31%. The company's revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.74 earnings per share. Gildan Activewear has set its FY 2025 guidance at 3.400-3.560 EPS. Sell-side analysts anticipate that Gildan Activewear will post 3.48 EPS for the current fiscal year.

Institutional Investors Weigh In On Gildan Activewear

A number of large investors have recently modified their holdings of the stock. Maseco LLP acquired a new stake in Gildan Activewear in the second quarter valued at approximately $26,000. Smartleaf Asset Management LLC boosted its holdings in shares of Gildan Activewear by 161.8% in the 2nd quarter. Smartleaf Asset Management LLC now owns 555 shares of the textile maker's stock valued at $27,000 after buying an additional 343 shares during the period. Olde Wealth Management LLC acquired a new position in Gildan Activewear in the first quarter valued at approximately $29,000. Twin Tree Management LP acquired a new position in shares of Gildan Activewear during the first quarter valued at $29,000. Finally, GAMMA Investing LLC boosted its stake in Gildan Activewear by 4,323.5% during the 1st quarter. GAMMA Investing LLC now owns 752 shares of the textile maker's stock valued at $33,000 after purchasing an additional 735 shares during the period. Institutional investors and hedge funds own 82.83% of the company's stock.

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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