Gildan Activewear (NYSE:GIL) PT Raised to $22.00 at TD Securities

Gildan Activewear (NYSE:GIL) (TSE:GIL) had its price target raised by research analysts at TD Securities from $19.00 to $22.00 in a note issued to investors on Friday, BayStreet.CA reports. The brokerage currently has a “buy” rating on the textile maker’s stock. TD Securities’ target price would suggest a potential upside of 23.87% from the stock’s current price.

A number of other equities analysts have also recently issued reports on the company. BMO Capital Markets increased their target price on Gildan Activewear from $14.00 to $16.00 and gave the stock a “market perform” rating in a report on Thursday, April 30th. National Bank Financial raised Gildan Activewear from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from $23.00 to $27.00 in a research report on Friday, July 17th. TheStreet raised Gildan Activewear from a “d+” rating to a “c-” rating in a research report on Monday, July 6th. UBS Group initiated coverage on shares of Gildan Activewear in a report on Wednesday, July 22nd. They issued a “neutral” rating and a $16.00 price objective on the stock. Finally, Royal Bank of Canada raised their target price on shares of Gildan Activewear from $15.00 to $16.00 and gave the company a “sector perform” rating in a research report on Friday. One analyst has rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company. Gildan Activewear presently has a consensus rating of “Hold” and a consensus target price of $24.36.

Shares of Gildan Activewear stock opened at $17.76 on Friday. Gildan Activewear has a 12 month low of $9.42 and a 12 month high of $40.29. The company has a current ratio of 5.41, a quick ratio of 2.35 and a debt-to-equity ratio of 0.99. The company has a market capitalization of $3.52 billion, a PE ratio of -16.29, a PEG ratio of 22.26 and a beta of 1.35. The stock’s fifty day simple moving average is $15.80 and its 200 day simple moving average is $18.57.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last released its quarterly earnings data on Thursday, July 30th. The textile maker reported ($0.99) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.21) by ($0.78). Gildan Activewear had a negative net margin of 10.14% and a positive return on equity of 0.35%. The business had revenue of $229.70 million for the quarter, compared to the consensus estimate of $241.40 million. During the same quarter last year, the firm earned $0.56 EPS. The company’s revenue for the quarter was down 71.3% on a year-over-year basis. Analysts predict that Gildan Activewear will post 0.04 EPS for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in GIL. Comerica Bank increased its holdings in shares of Gildan Activewear by 241.3% in the second quarter. Comerica Bank now owns 34,307 shares of the textile maker’s stock valued at $580,000 after purchasing an additional 24,254 shares during the last quarter. Pzena Investment Management LLC lifted its stake in shares of Gildan Activewear by 35.6% during the 2nd quarter. Pzena Investment Management LLC now owns 18,647,470 shares of the textile maker’s stock worth $288,849,000 after buying an additional 4,897,742 shares during the last quarter. GWM Advisors LLC bought a new stake in shares of Gildan Activewear during the 2nd quarter worth about $605,000. CIBC Asset Management Inc grew its stake in Gildan Activewear by 3.0% in the 2nd quarter. CIBC Asset Management Inc now owns 138,719 shares of the textile maker’s stock valued at $2,142,000 after buying an additional 4,006 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Gildan Activewear by 113.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 102,803 shares of the textile maker’s stock valued at $1,600,000 after acquiring an additional 54,551 shares during the period. 75.32% of the stock is owned by hedge funds and other institutional investors.

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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