Gildan Activewear (NYSE:GIL) Rating Reiterated by Royal Bank of Canada

Gildan Activewear (NYSE:GIL) (TSE:GIL)‘s stock had its “outperform” rating reaffirmed by investment analysts at Royal Bank of Canada in a note issued to investors on Monday, Benzinga reports. They presently have a $41.00 price target on the textile maker’s stock. Royal Bank of Canada’s price target indicates a potential upside of 10.81% from the company’s previous close.

GIL has been the topic of several other reports. Scotiabank raised their target price on Gildan Activewear from $39.50 to $40.50 and gave the stock a “sector outperform” rating in a report on Friday, February 9th. CIBC boosted their price target on shares of Gildan Activewear from $38.00 to $41.00 and gave the stock an “outperform” rating in a report on Thursday, February 22nd. Stifel Nicolaus increased their target price on Gildan Activewear from $34.00 to $36.00 and gave the company a “hold” rating in a report on Thursday, February 22nd. TD Securities raised their price target on shares of Gildan Activewear from $42.00 to $46.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. Finally, UBS Group lowered Gildan Activewear from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $40.00 to $37.00 in a research note on Friday, January 5th. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $41.25.

Gildan Activewear Price Performance

Shares of NYSE:GIL opened at $37.00 on Monday. The company has a current ratio of 2.33, a quick ratio of 0.83 and a debt-to-equity ratio of 0.39. Gildan Activewear has a twelve month low of $26.98 and a twelve month high of $38.87. The company’s 50 day moving average is $35.10 and its 200 day moving average is $33.13. The company has a market cap of $6.24 billion, a PE ratio of 12.22, a price-to-earnings-growth ratio of 1.37 and a beta of 1.38.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last released its quarterly earnings data on Wednesday, February 21st. The textile maker reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.03. Gildan Activewear had a net margin of 16.70% and a return on equity of 23.19%. The firm had revenue of $782.70 million for the quarter, compared to analyst estimates of $753.35 million. During the same quarter in the prior year, the business earned $0.65 earnings per share. The business’s quarterly revenue was up 8.7% compared to the same quarter last year. On average, sell-side analysts forecast that Gildan Activewear will post 2.94 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. CWM LLC grew its stake in Gildan Activewear by 86.5% during the 4th quarter. CWM LLC now owns 1,074 shares of the textile maker’s stock worth $35,000 after purchasing an additional 498 shares in the last quarter. Byrne Asset Management LLC acquired a new position in shares of Gildan Activewear during the third quarter worth about $34,000. EverSource Wealth Advisors LLC increased its stake in shares of Gildan Activewear by 120.6% during the third quarter. EverSource Wealth Advisors LLC now owns 1,646 shares of the textile maker’s stock worth $46,000 after buying an additional 900 shares during the period. Tower Research Capital LLC TRC raised its holdings in Gildan Activewear by 529.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,215 shares of the textile maker’s stock valued at $73,000 after acquiring an additional 1,863 shares in the last quarter. Finally, Mather Group LLC. purchased a new position in Gildan Activewear in the first quarter worth approximately $122,000. Hedge funds and other institutional investors own 82.83% of the company’s stock.

About Gildan Activewear

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.