Gildan Activewear (NYSE:GIL) Price Target Raised to $40.50 at Scotiabank

Gildan Activewear (NYSE:GILGet Free Report) (TSE:GIL) had its price objective upped by stock analysts at Scotiabank from $39.50 to $40.50 in a research note issued on Friday, Marketbeat.com reports. The firm presently has a “sector outperform” rating on the textile maker’s stock. Scotiabank’s target price points to a potential upside of 18.32% from the stock’s current price.

Other equities research analysts also recently issued reports about the company. Royal Bank of Canada lifted their price objective on Gildan Activewear from $36.00 to $39.00 and gave the stock an “outperform” rating in a report on Friday, November 3rd. BMO Capital Markets lowered their price objective on shares of Gildan Activewear from $38.00 to $37.00 and set an “outperform” rating on the stock in a research report on Friday, November 3rd. Stifel Nicolaus downgraded shares of Gildan Activewear from a “buy” rating to a “hold” rating and lifted their target price for the stock from $34.00 to $37.00 in a research report on Monday, December 18th. Edward Jones cut Gildan Activewear from a “buy” rating to a “hold” rating in a report on Thursday, December 7th. Finally, UBS Group cut Gildan Activewear from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $40.00 to $37.00 in a research report on Friday, January 5th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Gildan Activewear has a consensus rating of “Moderate Buy” and an average target price of $40.41.

Get Our Latest Stock Analysis on GIL

Gildan Activewear Stock Performance

GIL stock opened at $34.23 on Friday. The stock has a market capitalization of $5.83 billion, a PE ratio of 13.11, a price-to-earnings-growth ratio of 1.31 and a beta of 1.38. The stock’s 50 day simple moving average is $33.24 and its 200 day simple moving average is $31.45. Gildan Activewear has a 12-month low of $26.98 and a 12-month high of $37.65. The company has a current ratio of 2.50, a quick ratio of 0.93 and a debt-to-equity ratio of 0.40.

Institutional Investors Weigh In On Gildan Activewear

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GIL. Byrne Asset Management LLC purchased a new stake in shares of Gildan Activewear in the third quarter worth $34,000. CWM LLC boosted its holdings in Gildan Activewear by 86.5% in the 4th quarter. CWM LLC now owns 1,074 shares of the textile maker’s stock worth $35,000 after buying an additional 498 shares during the period. EverSource Wealth Advisors LLC raised its holdings in Gildan Activewear by 120.6% during the third quarter. EverSource Wealth Advisors LLC now owns 1,646 shares of the textile maker’s stock valued at $46,000 after acquiring an additional 900 shares during the period. Covestor Ltd purchased a new position in shares of Gildan Activewear in the second quarter valued at about $76,000. Finally, Signaturefd LLC boosted its stake in shares of Gildan Activewear by 16.0% in the second quarter. Signaturefd LLC now owns 2,946 shares of the textile maker’s stock worth $95,000 after acquiring an additional 407 shares during the period. 79.09% of the stock is owned by hedge funds and other institutional investors.

Gildan Activewear Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Gildan Activewear (NYSE:GIL)

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