Canaccord Genuity Group Issues Positive Forecast for Gildan Activewear (NYSE:GIL) Stock Price

by · The Markets Daily

Gildan Activewear (NYSE:GIL – Get Free Report) (TSE:GIL) had its target price lifted by equities research analysts at Canaccord Genuity Group from $52.00 to $53.00 in a research report issued to clients and investors on Friday, BayStreet.CA reports. The firm currently has a “buy” rating on the textile maker’s stock. Canaccord Genuity Group’s target price indicates a potential upside of 6.81% from the company’s current price.

Other research analysts have also recently issued research reports about the company. BMO Capital Markets boosted their price target on Gildan Activewear from $47.00 to $58.00 and gave the stock an “outperform” rating in a research note on Friday. Royal Bank of Canada upped their target price on Gildan Activewear from $41.00 to $44.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Stifel Nicolaus increased their price objective on shares of Gildan Activewear from $51.00 to $54.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Finally, TD Securities boosted their target price on shares of Gildan Activewear from $50.00 to $56.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $51.05.

Read Our Latest Research Report on GIL

Gildan Activewear Trading Up 1.5 %

NYSE:GIL traded up $0.72 during mid-day trading on Friday, reaching $49.62. The company’s stock had a trading volume of 236,536 shares, compared to its average volume of 708,253. The company’s fifty day simple moving average is $46.31 and its two-hundred day simple moving average is $40.77. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.35 and a quick ratio of 0.97. Gildan Activewear has a twelve month low of $28.95 and a twelve month high of $49.85. The stock has a market cap of $7.79 billion, a P/E ratio of 20.37, a P/E/G ratio of 1.83 and a beta of 1.43.

Gildan Activewear (NYSE:GIL – Get Free Report) (TSE:GIL) last issued its earnings results on Thursday, October 31st. The textile maker reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.01. The firm had revenue of $891.10 million for the quarter, compared to analysts’ expectations of $882.85 million. Gildan Activewear had a return on equity of 24.96% and a net margin of 13.01%. The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.74 earnings per share. On average, equities analysts predict that Gildan Activewear will post 2.93 EPS for the current year.

Institutional Trading of Gildan Activewear

A number of hedge funds have recently modified their holdings of the company. Intact Investment Management Inc. increased its stake in Gildan Activewear by 204.8% in the second quarter. Intact Investment Management Inc. now owns 881,100 shares of the textile maker’s stock valued at $33,416,000 after purchasing an additional 591,980 shares in the last quarter. National Bank of Canada FI grew its stake in shares of Gildan Activewear by 43.8% in the first quarter. National Bank of Canada FI now owns 1,762,761 shares of the textile maker’s stock valued at $65,451,000 after buying an additional 537,215 shares in the last quarter. EdgePoint Investment Group Inc. grew its holdings in Gildan Activewear by 28.0% during the second quarter. EdgePoint Investment Group Inc. now owns 1,863,618 shares of the textile maker’s stock worth $70,696,000 after purchasing an additional 407,113 shares during the period. Vaughan Nelson Investment Management L.P. boosted its position in Gildan Activewear by 31.5% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,573,695 shares of the textile maker’s stock worth $59,674,000 after purchasing an additional 377,135 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of Gildan Activewear by 14.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,568,733 shares of the textile maker’s stock worth $97,290,000 after buying an additional 324,304 shares during the period. Institutional investors own 82.83% of the company’s stock.

Gildan Activewear Company Profile

(Get Free Report)

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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