Gildan Activewear (NYSE:GIL) Raised to Buy at UBS Group

Gildan Activewear (NYSE:GIL) (TSE:GIL) was upgraded by research analysts at UBS Group from a “neutral” rating to a “buy” rating in a research note issued on Friday,Benzinga reports. The brokerage presently has a $60.00 target price on the textile maker’s stock, up from their prior target price of $50.00. UBS Group’s price target would indicate a potential upside of 27.90% from the company’s previous close.

Several other brokerages also recently commented on GIL. BMO Capital Markets increased their price objective on Gildan Activewear from $47.00 to $58.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. TD Securities increased their price target on Gildan Activewear from $58.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. Canaccord Genuity Group lifted their price objective on shares of Gildan Activewear from $52.00 to $53.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Stifel Nicolaus increased their target price on shares of Gildan Activewear from $54.00 to $60.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, CIBC raised their price target on shares of Gildan Activewear from $48.00 to $56.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Ten research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $53.35.

Gildan Activewear Stock Performance

NYSE GIL opened at $46.91 on Friday. The company has a current ratio of 2.31, a quick ratio of 0.98 and a debt-to-equity ratio of 0.81. The company has a fifty day simple moving average of $48.33 and a 200 day simple moving average of $45.05. Gildan Activewear has a 12-month low of $30.68 and a 12-month high of $50.60. The company has a market cap of $7.17 billion, a P/E ratio of 18.54, a PEG ratio of 1.82 and a beta of 1.41.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued its quarterly earnings data on Thursday, October 31st. The textile maker reported $0.85 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.85. Gildan Activewear had a net margin of 13.06% and a return on equity of 26.88%. The firm had revenue of $891.10 million during the quarter, compared to analysts’ expectations of $882.85 million. During the same period last year, the company earned $0.74 earnings per share. The business’s revenue was up 2.4% on a year-over-year basis. Sell-side analysts predict that Gildan Activewear will post 2.97 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Riverview Trust Co bought a new stake in shares of Gildan Activewear in the 3rd quarter worth approximately $29,000. Blue Trust Inc. increased its position in Gildan Activewear by 96.1% in the third quarter. Blue Trust Inc. now owns 810 shares of the textile maker’s stock worth $38,000 after buying an additional 397 shares during the last quarter. CWM LLC raised its stake in shares of Gildan Activewear by 23.0% in the third quarter. CWM LLC now owns 1,698 shares of the textile maker’s stock valued at $80,000 after buying an additional 318 shares during the period. SYSTM Wealth Solutions LLC lifted its position in shares of Gildan Activewear by 33.1% during the 2nd quarter. SYSTM Wealth Solutions LLC now owns 2,709 shares of the textile maker’s stock valued at $103,000 after buying an additional 674 shares during the last quarter. Finally, Laurus Investment Counsel Inc. bought a new position in shares of Gildan Activewear during the 3rd quarter worth $203,000. 82.83% of the stock is currently owned by hedge funds and other institutional investors.

Gildan Activewear Company Profile

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.