Royal Bank of Canada Increases Gildan Activewear (NYSE:GIL) Price Target to $31.00


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Gildan Activewear (NYSE:GIL) (TSE:GIL) had its price objective hoisted by Royal Bank of Canada from $26.00 to $31.00 in a research report issued to clients and investors on Thursday, The Fly reports. The firm currently has an “outperform” rating on the textile maker’s stock. Royal Bank of Canada’s price objective points to a potential upside of 10.36% from the company’s current price.

Other equities research analysts have also recently issued reports about the stock. BMO Capital Markets raised shares of Gildan Activewear from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $18.00 to $27.00 in a research report on Friday, October 30th. TD Securities upgraded shares of Gildan Activewear from a “hold” rating to a “buy” rating and boosted their price target for the stock from $28.00 to $33.00 in a research note on Friday, November 20th. Zacks Investment Research lowered shares of Gildan Activewear from a “buy” rating to a “hold” rating in a research report on Monday, January 4th. Finally, CIBC upgraded shares of Gildan Activewear from a “neutral” rating to an “outperformer” rating in a research report on Friday, October 30th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $24.30.

GIL traded up $0.49 on Thursday, reaching $28.09. The company had a trading volume of 1,786 shares, compared to its average volume of 297,819. Gildan Activewear has a 1 year low of $9.42 and a 1 year high of $30.29. The stock has a market capitalization of $5.57 billion, a PE ratio of -21.29 and a beta of 1.58. The company has a quick ratio of 1.36, a current ratio of 3.91 and a debt-to-equity ratio of 0.72. The stock has a 50-day moving average price of $27.66 and a 200-day moving average price of $21.86.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last announced its quarterly earnings results on Tuesday, November 3rd. The textile maker reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.21. Gildan Activewear had a negative net margin of 13.34% and a negative return on equity of 2.69%. The firm had revenue of $602.30 million during the quarter, compared to analysts’ expectations of $527.67 million. During the same period in the previous year, the company earned $0.53 earnings per share. Gildan Activewear’s quarterly revenue was down 18.6% compared to the same quarter last year. As a group, analysts expect that Gildan Activewear will post -0.46 earnings per share for the current fiscal year.

Institutional investors have recently bought and sold shares of the company. Signaturefd LLC lifted its position in shares of Gildan Activewear by 38.6% in the 3rd quarter. Signaturefd LLC now owns 2,537 shares of the textile maker’s stock worth $50,000 after buying an additional 707 shares during the last quarter. FinTrust Capital Advisors LLC lifted its position in shares of Gildan Activewear by 116.2% in the 2nd quarter. FinTrust Capital Advisors LLC now owns 6,681 shares of the textile maker’s stock worth $103,000 after buying an additional 3,591 shares during the last quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. bought a new position in shares of Gildan Activewear in the 3rd quarter worth about $212,000. ExodusPoint Capital Management LP bought a new position in shares of Gildan Activewear in the 3rd quarter worth about $231,000. Finally, Squarepoint Ops LLC bought a new position in shares of Gildan Activewear in the 3rd quarter worth about $328,000. Institutional investors own 73.88% of the company’s stock.

Gildan Activewear Company Profile

Gildan Activewear Inc manufactures and sells a range of apparel products in North America, Europe, the Asia-Pacific, and Latin America. The company manufactures and markets active wear products, including T-shirts, fleece tops and bottoms, and sport shirts under Gildan, Gildan Performance, Gildan Platinum, Gildan Hammer, Comfort Colors, American Apparel, Anvil by Gildan, Alstyle, Prim + Preux, and Gold Toe brands.

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