Gildan Activewear (NYSE:GIL) Price Target Raised to $80.00

Gildan Activewear (NYSE:GIL) (TSE:GIL) had its target price boosted by equities researchers at Stifel Nicolaus from $75.00 to $80.00 in a research report issued to clients and investors on Monday,BayStreet.CA reports. The firm currently has a “buy” rating on the textile maker’s stock. Stifel Nicolaus’ price target would indicate a potential upside of 13.58% from the stock’s current price.

Other equities analysts have also issued research reports about the company. TD Securities reaffirmed a “buy” rating and issued a $77.00 price objective on shares of Gildan Activewear in a research note on Tuesday, January 27th. Royal Bank Of Canada boosted their price target on Gildan Activewear from $68.00 to $71.00 and gave the stock an “outperform” rating in a report on Monday, October 27th. Desjardins increased their price objective on shares of Gildan Activewear from $80.00 to $95.00 and gave the company a “buy” rating in a report on Monday, October 27th. UBS Group reissued a “buy” rating and issued a $110.00 target price (up previously from $80.00) on shares of Gildan Activewear in a report on Tuesday, December 16th. Finally, Zacks Research lowered shares of Gildan Activewear from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 23rd. Thirteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $79.38.

Gildan Activewear Price Performance

Shares of NYSE GIL traded down $1.12 during midday trading on Monday, reaching $70.44. The stock had a trading volume of 470,641 shares, compared to its average volume of 1,154,496. The company has a market capitalization of $13.04 billion, a price-to-earnings ratio of 22.43 and a beta of 1.08. Gildan Activewear has a 12-month low of $37.16 and a 12-month high of $73.69. The stock has a 50-day moving average of $65.93 and a 200-day moving average of $60.20. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.88 and a current ratio of 2.01.

Institutional Investors Weigh In On Gildan Activewear

Several large investors have recently added to or reduced their stakes in GIL. Webster Bank N. A. bought a new stake in Gildan Activewear during the 4th quarter valued at about $25,000. Islay Capital Management LLC purchased a new stake in shares of Gildan Activewear in the fourth quarter valued at approximately $25,000. Larson Financial Group LLC boosted its holdings in shares of Gildan Activewear by 3,516.7% in the fourth quarter. Larson Financial Group LLC now owns 434 shares of the textile maker’s stock valued at $27,000 after purchasing an additional 422 shares during the period. Smartleaf Asset Management LLC grew its stake in Gildan Activewear by 161.8% in the second quarter. Smartleaf Asset Management LLC now owns 555 shares of the textile maker’s stock worth $27,000 after purchasing an additional 343 shares in the last quarter. Finally, Brown Brothers Harriman & Co. increased its holdings in Gildan Activewear by 867.9% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 513 shares of the textile maker’s stock worth $30,000 after purchasing an additional 460 shares during the period. 82.83% of the stock is owned by institutional investors.

About Gildan Activewear

Gildan Activewear Inc (NYSE:GIL) is a vertically integrated manufacturer and wholesaler of branded basic apparel, including activewear, socks, hosiery and underwear. Headquartered in Montreal, Quebec, the company produces a wide range of products such as T-shirts, fleece garments, sport shirts, performance wear, and shapewear under its Gildan, Anvil, Comfort Colors, Gold Toe, Peds and Silks brands. Leveraging its in-house knitting, dyeing, cut-and-sew and finishing operations, Gildan supplies blank apparel to screen printers, promotional product distributors and major retailers around the world.

Since its founding in 1984 by Glenn J.