Gildan Activewear (NYSE:GIL) Price Target Raised to $40.00 at Citigroup

Gildan Activewear (NYSE:GIL) (TSE:GIL) had its price target upped by Citigroup from $37.00 to $40.00 in a research note published on Friday, BenzingaRatingsTable reports. They currently have a neutral rating on the textile maker’s stock.

A number of other brokerages also recently weighed in on GIL. Royal Bank of Canada lifted their target price on Gildan Activewear from $34.00 to $35.00 and gave the stock a hold rating in a report on Thursday, May 2nd. TD Securities upgraded Gildan Activewear from a hold rating to a buy rating in a report on Friday. Zacks Investment Research upgraded Gildan Activewear from a hold rating to a buy rating and set a $45.00 target price for the company in a report on Wednesday. Raymond James reiterated a strong-buy rating and issued a $14.00 target price on shares of Gildan Activewear in a report on Thursday, May 2nd. Finally, Desjardins upgraded Gildan Activewear from a hold rating to a buy rating in a report on Friday. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Gildan Activewear presently has a consensus rating of Buy and an average price target of $34.66.

GIL stock traded down $0.54 during mid-day trading on Friday, reaching $38.65. The company’s stock had a trading volume of 674,284 shares, compared to its average volume of 362,458. The company has a market capitalization of $8.02 billion, a P/E ratio of 20.78, a price-to-earnings-growth ratio of 1.43 and a beta of 0.83. The business’s 50 day moving average price is $39.16. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.74 and a current ratio of 4.92. Gildan Activewear has a 12 month low of $28.11 and a 12 month high of $40.40.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued its earnings results on Thursday, August 1st. The textile maker reported $0.57 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.02. The business had revenue of $801.60 million during the quarter, compared to the consensus estimate of $793.91 million. Gildan Activewear had a return on equity of 18.24% and a net margin of 10.59%. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.52 earnings per share. Research analysts anticipate that Gildan Activewear will post 1.97 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FMR LLC increased its holdings in shares of Gildan Activewear by 19.3% during the first quarter. FMR LLC now owns 9,830,993 shares of the textile maker’s stock valued at $353,485,000 after acquiring an additional 1,589,389 shares in the last quarter. Janus Henderson Group PLC increased its holdings in shares of Gildan Activewear by 0.4% during the second quarter. Janus Henderson Group PLC now owns 9,713,799 shares of the textile maker’s stock valued at $375,748,000 after acquiring an additional 36,796 shares in the last quarter. Pzena Investment Management LLC increased its holdings in shares of Gildan Activewear by 87.2% during the first quarter. Pzena Investment Management LLC now owns 3,718,142 shares of the textile maker’s stock valued at $133,742,000 after acquiring an additional 1,732,215 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Gildan Activewear by 89.6% during the first quarter. The Manufacturers Life Insurance Company now owns 2,823,941 shares of the textile maker’s stock valued at $101,577,000 after acquiring an additional 1,334,579 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Gildan Activewear during the fourth quarter valued at approximately $66,115,000. Hedge funds and other institutional investors own 68.90% of the company’s stock.

Gildan Activewear Company Profile

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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