Brokerages Set Gildan Activewear Inc (NYSE:GIL) Target Price at $30.44

Gildan Activewear Inc (NYSE:GIL) (TSE:GIL) has received a consensus rating of “Hold” from the thirteen research firms that are currently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $30.44.

GIL has been the topic of a number of research reports. Bank of America downgraded shares of Gildan Activewear from a “buy” rating to an “underperform” rating and set a $23.00 target price on the stock. in a report on Friday, October 18th. Edward Jones cut shares of Gildan Activewear from a “buy” rating to a “hold” rating in a research report on Monday, October 21st. Royal Bank of Canada lowered their price target on shares of Gildan Activewear from $36.00 to $30.00 and set a “sector perform” rating for the company in a research report on Friday, October 18th. TD Securities reduced their price objective on shares of Gildan Activewear from $38.00 to $36.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Finally, Desjardins upgraded shares of Gildan Activewear from a “hold” rating to a “buy” rating and set a $42.00 price target on the stock in a research note on Friday, November 29th.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Quest Capital Management Inc. ADV purchased a new position in Gildan Activewear in the third quarter worth approximately $98,000. Commonwealth Bank of Australia increased its stake in Gildan Activewear by 28.1% in the 2nd quarter. Commonwealth Bank of Australia now owns 2,595 shares of the textile maker’s stock valued at $99,000 after buying an additional 569 shares during the period. Neuburgh Advisers LLC grew its stake in shares of Gildan Activewear by 11.4% during the 2nd quarter. Neuburgh Advisers LLC now owns 3,744 shares of the textile maker’s stock worth $139,000 after purchasing an additional 384 shares during the period. Bartlett & Co. LLC grew its stake in shares of Gildan Activewear by 77.5% during the 3rd quarter. Bartlett & Co. LLC now owns 3,905 shares of the textile maker’s stock worth $139,000 after purchasing an additional 1,705 shares during the period. Finally, Tower Research Capital LLC TRC grew its stake in shares of Gildan Activewear by 997.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,598 shares of the textile maker’s stock worth $140,000 after purchasing an additional 3,270 shares during the period. 68.32% of the stock is owned by institutional investors and hedge funds.

Shares of GIL traded down $1.09 during trading hours on Friday, reaching $28.31. 788,618 shares of the stock traded hands, compared to its average volume of 528,755. The company has a current ratio of 4.18, a quick ratio of 1.61 and a debt-to-equity ratio of 0.50. Gildan Activewear has a 52-week low of $23.45 and a 52-week high of $40.40. The company’s 50-day moving average price is $29.02 and its two-hundred day moving average price is $33.40. The company has a market cap of $5.86 billion, a P/E ratio of 15.22, a price-to-earnings-growth ratio of 1.74 and a beta of 0.83.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last announced its quarterly earnings results on Thursday, October 31st. The textile maker reported $0.53 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.53. The company had revenue of $739.70 million for the quarter, compared to the consensus estimate of $739.86 million. Gildan Activewear had a net margin of 9.87% and a return on equity of 17.94%. Gildan Activewear’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.57 EPS. On average, research analysts forecast that Gildan Activewear will post 1.66 EPS for the current year.

About Gildan Activewear

Gildan Activewear Inc manufactures and sells a range of apparel products in North America, Europe, the Asia-Pacific, and Latin America. The company manufactures and markets active wear products, including T-shirts, fleece tops and bottoms, and sport shirts under Gildan, Gildan Performance, Gildan Platinum, Gildan Hammer, Comfort Colors, American Apparel, Anvil, Alstyle, and Gold Toe brands.

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Analyst Recommendations for Gildan Activewear (NYSE:GIL)

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