National Bankshares Forecasts Strong Price Appreciation for Gildan Activewear (NYSE:GIL) Stock

Gildan Activewear (NYSE:GIL) (TSE:GIL) had its target price increased by National Bankshares from $92.00 to $97.00 in a note issued to investors on Monday,BayStreet.CA reports. The firm currently has an “outperform” rating on the textile maker’s stock. National Bankshares’ target price would indicate a potential upside of 44.61% from the company’s previous close.

Several other research firms have also recently issued reports on GIL. Desjardins raised their target price on Gildan Activewear from $80.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday, October 27th. Zacks Research cut Gildan Activewear from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 23rd. UBS Group reissued a “buy” rating and set a $110.00 price objective (up from $80.00) on shares of Gildan Activewear in a research report on Tuesday, December 16th. Barclays reaffirmed an “overweight” rating and issued a $70.00 target price (up previously from $64.00) on shares of Gildan Activewear in a research report on Thursday, October 30th. Finally, BMO Capital Markets increased their target price on shares of Gildan Activewear from $70.00 to $78.00 and gave the stock an “outperform” rating in a research note on Monday, January 26th. Twelve analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $77.54.

Gildan Activewear Price Performance

Gildan Activewear stock opened at $67.08 on Monday. The company has a current ratio of 2.01, a quick ratio of 0.88 and a debt-to-equity ratio of 0.94. The company has a 50-day moving average price of $62.46 and a 200 day moving average price of $58.41. Gildan Activewear has a 12-month low of $37.16 and a 12-month high of $67.96. The stock has a market cap of $12.42 billion, a P/E ratio of 21.43 and a beta of 1.08.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in GIL. JCIC Asset Management Inc. purchased a new stake in Gildan Activewear during the 3rd quarter worth about $6,920,000. Northwest & Ethical Investments L.P. increased its holdings in shares of Gildan Activewear by 11.8% in the 2nd quarter. Northwest & Ethical Investments L.P. now owns 92,792 shares of the textile maker’s stock valued at $4,561,000 after acquiring an additional 9,774 shares during the last quarter. Oakcliff Capital Partners LP raised its position in shares of Gildan Activewear by 11.4% during the 2nd quarter. Oakcliff Capital Partners LP now owns 681,689 shares of the textile maker’s stock worth $33,566,000 after acquiring an additional 70,000 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its stake in Gildan Activewear by 4.6% during the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 11,207 shares of the textile maker’s stock worth $552,000 after purchasing an additional 493 shares during the last quarter. Finally, Bank of Nova Scotia boosted its holdings in Gildan Activewear by 14.0% in the second quarter. Bank of Nova Scotia now owns 528,681 shares of the textile maker’s stock valued at $26,043,000 after purchasing an additional 65,090 shares in the last quarter. Hedge funds and other institutional investors own 82.83% of the company’s stock.

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.