Gildan Activewear (NYSE:GIL) Given New $62.00 Price Target at Citigroup

Gildan Activewear (NYSE:GIL) (TSE:GIL) had its target price hoisted by equities researchers at Citigroup from $59.00 to $62.00 in a research note issued to investors on Thursday,BayStreet.CA reports. The firm currently has a “buy” rating on the textile maker’s stock. Citigroup’s target price suggests a potential upside of 14.44% from the stock’s previous close.

GIL has been the topic of a number of other reports. UBS Group boosted their target price on shares of Gildan Activewear from $60.00 to $69.00 and gave the stock a “buy” rating in a research report on Thursday. TD Securities boosted their target price on shares of Gildan Activewear from $58.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, December 2nd. Canaccord Genuity Group boosted their target price on shares of Gildan Activewear from $52.00 to $53.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Stifel Nicolaus boosted their target price on shares of Gildan Activewear from $54.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, CIBC boosted their target price on shares of Gildan Activewear from $56.00 to $60.00 and gave the stock an “outperform” rating in a research report on Thursday. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Gildan Activewear has a consensus rating of “Buy” and an average price target of $60.00.

Gildan Activewear Trading Down 1.7 %

NYSE GIL opened at $54.18 on Thursday. Gildan Activewear has a one year low of $32.23 and a one year high of $55.39. The company’s 50 day moving average price is $49.47 and its 200 day moving average price is $47.54. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.98 and a current ratio of 2.31. The firm has a market capitalization of $8.24 billion, a price-to-earnings ratio of 21.67, a PEG ratio of 1.74 and a beta of 1.41.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its quarterly earnings results on Wednesday, February 19th. The textile maker reported $0.83 EPS for the quarter, missing the consensus estimate of $1.13 by ($0.30). Gildan Activewear had a net margin of 12.26% and a return on equity of 27.49%. The business had revenue of $822.00 million during the quarter, compared to analysts’ expectations of $805.75 million. During the same quarter in the previous year, the business posted $0.75 EPS. The company’s quarterly revenue was up 5.0% on a year-over-year basis. On average, sell-side analysts predict that Gildan Activewear will post 3.44 EPS for the current year.

Institutional Trading of Gildan Activewear

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Plato Investment Management Ltd bought a new stake in shares of Gildan Activewear in the fourth quarter worth $28,000. Blue Trust Inc. increased its stake in Gildan Activewear by 96.1% during the third quarter. Blue Trust Inc. now owns 810 shares of the textile maker’s stock valued at $38,000 after purchasing an additional 397 shares during the last quarter. Fifth Third Bancorp increased its stake in Gildan Activewear by 61.8% during the fourth quarter. Fifth Third Bancorp now owns 872 shares of the textile maker’s stock valued at $41,000 after purchasing an additional 333 shares during the last quarter. Steward Partners Investment Advisory LLC increased its stake in Gildan Activewear by 500.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 894 shares of the textile maker’s stock valued at $42,000 after purchasing an additional 745 shares during the last quarter. Finally, Venturi Wealth Management LLC increased its stake in Gildan Activewear by 899.0% during the fourth quarter. Venturi Wealth Management LLC now owns 1,009 shares of the textile maker’s stock valued at $47,000 after purchasing an additional 908 shares during the last quarter. Institutional investors 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.