Royal Bank of Canada Analysts Give Gildan Activewear (GIL) a $32.00 Price Target

Gildan Activewear (NYSE:GIL) (TSE:GIL) received a $32.00 price objective from stock analysts at Royal Bank of Canada in a research report issued on Wednesday. The firm currently has a “hold” rating on the textile maker’s stock. Royal Bank of Canada’s price objective points to a potential upside of 2.93% from the company’s current price.

Several other brokerages have also recently commented on GIL. ValuEngine upgraded shares of Gildan Activewear from a “hold” rating to a “buy” rating in a research note on Monday, February 5th. BMO Capital Markets restated a “buy” rating and set a $34.00 price objective on shares of Gildan Activewear in a research note on Friday, October 20th. Goldman Sachs Group restated a “buy” rating and set a $37.00 price objective on shares of Gildan Activewear in a research note on Friday, December 8th. Bank of America restated a “buy” rating and set a $37.00 price objective on shares of Gildan Activewear in a research note on Friday, December 8th. Finally, Stifel Nicolaus set a $37.00 price objective on shares of Gildan Activewear and gave the company a “buy” rating in a research note on Friday, December 15th. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Gildan Activewear presently has a consensus rating of “Hold” and a consensus target price of $34.13.

Shares of Gildan Activewear (NYSE:GIL) opened at $31.09 on Wednesday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.72 and a current ratio of 5.13. Gildan Activewear has a 12 month low of $24.67 and a 12 month high of $34.19. The company has a market cap of $6,830.00, a P/E ratio of 18.51, a price-to-earnings-growth ratio of 1.21 and a beta of 0.79.

Gildan Activewear declared that its board has initiated a stock repurchase plan on Thursday, November 2nd that permits the company to repurchase 4,600,000 shares. This repurchase authorization permits the textile maker to repurchase shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Several institutional investors and hedge funds have recently bought and sold shares of GIL. Wells Fargo & Company MN lifted its stake in shares of Gildan Activewear by 6.8% in the 2nd quarter. Wells Fargo & Company MN now owns 112,697 shares of the textile maker’s stock valued at $3,464,000 after purchasing an additional 7,218 shares during the period. Alliancebernstein L.P. lifted its stake in shares of Gildan Activewear by 59.5% in the 2nd quarter. Alliancebernstein L.P. now owns 24,599 shares of the textile maker’s stock valued at $756,000 after purchasing an additional 9,180 shares during the period. PNC Financial Services Group Inc. lifted its stake in shares of Gildan Activewear by 19.3% in the 2nd quarter. PNC Financial Services Group Inc. now owns 4,733 shares of the textile maker’s stock valued at $146,000 after purchasing an additional 765 shares during the period. Northern Trust Corp lifted its stake in shares of Gildan Activewear by 1.3% in the 2nd quarter. Northern Trust Corp now owns 465,011 shares of the textile maker’s stock valued at $14,291,000 after purchasing an additional 5,750 shares during the period. Finally, Vanguard Group Inc. lifted its stake in shares of Gildan Activewear by 3.9% in the 2nd quarter. Vanguard Group Inc. now owns 4,927,849 shares of the textile maker’s stock valued at $151,433,000 after purchasing an additional 185,026 shares during the period. Hedge funds and other institutional investors own 71.24% of the company’s stock.

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Gildan Activewear Company Profile

Gildan Activewear Inc is a manufacturer and marketer of branded basic family apparel, including T-shirts, fleece, sport shirts, underwear, socks, hosiery and shapewear. The Company operates through two segments: Printwear and Branded Apparel. The Printwear segment designs, manufactures, sources, markets, and distributes undecorated activewear products.

Analyst Recommendations for Gildan Activewear (NYSE:GIL)

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