Gildan Activewear (NYSE:GIL – Get Free Report) (TSE:GIL) had its price objective cut by equities research analysts at UBS Group from $111.00 to $71.00 in a research report issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the textile maker’s stock. UBS Group’s target price points to a potential upside of 69.31% from the company’s current price.
GIL has been the topic of a number of other reports. Weiss Ratings reissued a “hold (c)” rating on shares of Gildan Activewear in a research note on Thursday, August 13th. Scotiabank reaffirmed a “sector outperform” rating and set a $67.00 target price (up from $65.00) on shares of Gildan Activewear in a research report on Friday, July 31st. Scotia upped their target price on Gildan Activewear from $65.00 to $67.00 and gave the stock a “sector outperform” rating in a research report on Friday, July 31st. TD Securities lowered their price target on Gildan Activewear from $80.00 to $54.00 and set a “buy” rating on the stock in a report on Thursday, September 24th. Finally, TD dropped their price target on shares of Gildan Activewear from $80.00 to $54.00 and set a “buy” rating on the stock in a research report on Thursday, September 24th. Twelve equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $73.69.
Read Our Latest Research Report on Gildan Activewear
Gildan Activewear Stock Up 2.0%
Shares of NYSE GIL traded up $0.82 during trading hours on Thursday, hitting $41.94. The stock had a trading volume of 1,827,038 shares, compared to its average volume of 1,458,030. The company has a market capitalization of $7.77 billion, a P/E ratio of 80.65 and a beta of 1.11. The firm’s 50-day moving average price is $49.27 and its two-hundred day moving average price is $53.52. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.01 and a current ratio of 1.93. Gildan Activewear has a 52 week low of $39.93 and a 52 week high of $73.69.
Gildan Activewear (NYSE:GIL – Get Free Report) (TSE:GIL) last released its quarterly earnings data on Thursday, July 30th. The textile maker reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.17. The business had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.61 billion. Gildan Activewear had a net margin of 1.28% and a return on equity of 21.03%. Gildan Activewear’s quarterly revenue was up 72.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.97 EPS. Analysts anticipate that Gildan Activewear will post 4.67 EPS for the current fiscal year.
Institutional Investors Weigh In On Gildan Activewear
Several hedge funds have recently modified their holdings of GIL. Caisse de depot et placement du Quebec acquired a new position in Gildan Activewear in the second quarter worth $601,931,000. Jupiter Topco LLC bought a new stake in Gildan Activewear during the 2nd quarter worth about $573,363,000. Janus Henderson Group PLC increased its position in Gildan Activewear by 0.9% in the 1st quarter. Janus Henderson Group PLC now owns 10,593,203 shares of the textile maker’s stock valued at $589,508,000 after acquiring an additional 98,134 shares in the last quarter. Royal Bank of Canada increased its position in Gildan Activewear by 20.9% in the 1st quarter. Royal Bank of Canada now owns 6,911,589 shares of the textile maker’s stock valued at $384,629,000 after acquiring an additional 1,193,718 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Gildan Activewear by 15.7% in the first quarter. The Manufacturers Life Insurance Company now owns 6,706,078 shares of the textile maker’s stock worth $373,122,000 after acquiring an additional 909,001 shares during the last quarter. 82.83% of the stock is owned by institutional investors.
About Gildan Activewear
Gildan Activewear Inc is a Canadian apparel manufacturer headquartered in Montreal, Quebec. The company produces basic everyday apparel, including T-shirts, fleece garments, underwear, socks and hosiery, for wholesalers, retailers, screen printers, brands and consumers.
Its portfolio includes the Gildan, American Apparel, Comfort Colors and Gold Toe brands, along with other product lines serving the activewear, casualwear and innerwear markets. Gildan also manufactures private-label and co-branded products for customers in several apparel categories.
Founded in 1984 by brothers Glenn and Greg Chamandy, Gildan has developed a vertically integrated manufacturing model that covers key stages from textile production through finished garments.
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