Gildan Activewear (NYSE:GIL) Stock Price Expected to Rise, UBS Group Analyst Says

Gildan Activewear (NYSE:GIL) (TSE:GIL) had its price target lifted by analysts at UBS Group from $60.00 to $69.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the textile maker’s stock. UBS Group’s target price indicates a potential upside of 27.36% from the stock’s current price.

GIL has been the topic of a number of other reports. TD Securities boosted their price target on shares of Gildan Activewear from $58.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, December 2nd. BMO Capital Markets boosted their price target on shares of Gildan Activewear from $58.00 to $64.00 and gave the company an “outperform” rating in a research note on Thursday. Canaccord Genuity Group boosted their price target on shares of Gildan Activewear from $52.00 to $53.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Citigroup upped their target price on shares of Gildan Activewear from $54.00 to $59.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, Stifel Nicolaus upped their target price on shares of Gildan Activewear from $54.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $60.00.

Gildan Activewear Price Performance

Gildan Activewear stock opened at $54.18 on Thursday. The company’s 50 day simple moving average is $49.47 and its 200-day simple moving average is $47.54. The company has a market capitalization of $8.24 billion, a price-to-earnings ratio of 21.67, a price-to-earnings-growth ratio of 1.74 and a beta of 1.41. Gildan Activewear has a 1 year low of $32.23 and a 1 year high of $55.39. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.98 and a current ratio of 2.31.

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

Institutional Investors Weigh In On Gildan Activewear

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

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.