Gildan Activewear (NYSE:GIL – Get Free Report) (TSE:GIL) had its target price upped by Scotiabank from $36.50 to $39.50 in a research report issued to clients and investors on Friday, BayStreet.CA reports. The firm currently has an “outperform” rating on the textile maker’s stock. Scotiabank’s price objective would indicate a potential upside of 18.83% from the company’s previous close.
Other equities research analysts have also issued reports about the stock. Stifel Nicolaus increased their target price on shares of Gildan Activewear from $34.00 to $37.00 and gave the stock a “buy” rating in a report on Friday. Citigroup cut their target price on shares of Gildan Activewear from $42.00 to $40.00 and set a “buy” rating on the stock in a research note on Friday, August 4th. BMO Capital Markets lowered their price target on shares of Gildan Activewear from $38.00 to $37.00 and set an “outperform” rating for the company in a report on Friday. StockNews.com lowered shares of Gildan Activewear from a “hold” rating to a “sell” rating in a report on Friday, October 13th. Finally, Desjardins boosted their target price on shares of Gildan Activewear from $48.00 to $53.00 and gave the stock a “buy” rating in a research note on Friday. One analyst has rated the stock with a sell rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Gildan Activewear presently has a consensus rating of “Moderate Buy” and an average target price of $40.77.
Read Our Latest Research Report on GIL
Gildan Activewear Stock Up 2.8 %
Gildan Activewear (NYSE:GIL – Get Free Report) (TSE:GIL) last posted its earnings results on Thursday, August 3rd. The textile maker reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.02. The firm had revenue of $840.40 million for the quarter, compared to analyst estimates of $822.03 million. Gildan Activewear had a return on equity of 24.47% and a net margin of 15.73%. Research analysts anticipate that Gildan Activewear will post 2.58 EPS for the current year.
Institutional Investors Weigh In On Gildan Activewear
Several large investors have recently modified their holdings of GIL. Coliseum Capital Management LLC boosted its stake in Gildan Activewear by 23.9% during the 2nd quarter. Coliseum Capital Management LLC now owns 10,662,735 shares of the textile maker’s stock worth $343,767,000 after purchasing an additional 2,060,229 shares during the period. Cooke & Bieler LP grew its holdings in shares of Gildan Activewear by 0.6% during the first quarter. Cooke & Bieler LP now owns 9,926,688 shares of the textile maker’s stock worth $329,467,000 after buying an additional 62,244 shares during the last quarter. FMR LLC grew its holdings in shares of Gildan Activewear by 2.7% during the first quarter. FMR LLC now owns 8,082,740 shares of the textile maker’s stock worth $268,527,000 after buying an additional 211,327 shares during the last quarter. Browning West LP increased its position in Gildan Activewear by 3.9% in the 2nd quarter. Browning West LP now owns 6,645,548 shares of the textile maker’s stock valued at $214,252,000 after acquiring an additional 250,000 shares during the period. Finally, Vanguard Group Inc. raised its stake in Gildan Activewear by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 6,349,722 shares of the textile maker’s stock valued at $179,507,000 after acquiring an additional 22,957 shares during the last quarter. 79.09% of the stock is owned by institutional investors and hedge funds.
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, Comfort Colors, American Apparel, Alstyle, and GoldToe brands.
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