BMO Capital Markets Forecasts Strong Price Appreciation for Gildan Activewear (NYSE:GIL) Stock

Gildan Activewear (NYSE:GIL) (TSE:GIL) had its price target increased by equities researchers at BMO Capital Markets from $58.00 to $64.00 in a report issued on Thursday, MarketBeat Ratings reports. The brokerage currently has an “outperform” rating on the textile maker’s stock. BMO Capital Markets’ price target would indicate a potential upside of 18.13% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on GIL. TD Securities raised their target price on Gildan Activewear from $58.00 to $60.00 and gave the company a “buy” rating in a report on Monday, December 2nd. UBS Group raised Gildan Activewear from a “neutral” rating to a “buy” rating and raised their target price for the company from $50.00 to $60.00 in a report on Friday, January 10th. Canaccord Genuity Group raised their target price on Gildan Activewear from $52.00 to $53.00 and gave the company a “buy” rating in a report on Friday, November 1st. CIBC raised their target price on Gildan Activewear from $48.00 to $56.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Finally, Stifel Nicolaus raised their price objective on Gildan Activewear from $54.00 to $60.00 and gave the company a “buy” rating in a report on Friday, November 1st. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $60.00.

Gildan Activewear Price Performance

Gildan Activewear stock opened at $54.18 on Thursday. The stock’s fifty day moving average price is $49.47 and its two-hundred day moving average price is $47.54. Gildan Activewear has a one year low of $32.23 and a one year high of $55.39. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.31 and a quick ratio of 0.98. The firm has a market cap of $8.24 billion, a PE ratio of 21.67, a price-to-earnings-growth ratio of 1.74 and a beta of 1.41.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued its earnings results on Wednesday, February 19th. The textile maker reported $0.83 earnings per share for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.30). The business had revenue of $822.00 million during the quarter, compared to analyst estimates of $805.75 million. Gildan Activewear had a net margin of 12.26% and a return on equity of 27.49%. The company’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.75 EPS. As a group, research analysts expect that Gildan Activewear will post 3.44 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of GIL. Norges Bank bought a new position in Gildan Activewear during the 4th quarter worth $97,275,000. Connor Clark & Lunn Investment Management Ltd. raised its position in Gildan Activewear by 604.1% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,850,971 shares of the textile maker’s stock worth $86,999,000 after purchasing an additional 1,588,071 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in Gildan Activewear by 276.9% during the 4th quarter. The Manufacturers Life Insurance Company now owns 1,769,634 shares of the textile maker’s stock worth $83,394,000 after purchasing an additional 1,300,121 shares during the last quarter. CIBC Asset Management Inc raised its position in Gildan Activewear by 545.1% during the 4th quarter. CIBC Asset Management Inc now owns 1,210,314 shares of the textile maker’s stock worth $57,403,000 after purchasing an additional 1,022,695 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its position in Gildan Activewear by 776.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 817,204 shares of the textile maker’s stock worth $38,414,000 after purchasing an additional 723,962 shares during the last quarter. 82.83% of the stock is owned by institutional investors.

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, Glidan Softstyle, Gildan Heavy Cotton, Gildan Ultra Cotton, Gildan DryBlend, Gildan HeavyBlend, Comfort Colors, and American Apparel brands.