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

Gildan Activewear (NYSE:GIL) (TSE:GIL) had its target price raised by equities research analysts at Scotiabank from $66.00 to $72.00 in a research note issued on Tuesday, MarketBeat Ratings reports. The brokerage currently has a “sector outperform” rating on the textile maker’s stock. Scotiabank’s price target indicates a potential upside of 4.39% from the company’s current price.

Several other research firms have also commented on GIL. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Gildan Activewear in a report on Monday, December 29th. TD Cowen lifted their target price on Gildan Activewear from $67.00 to $73.00 and gave the company a “buy” rating in a research note on Monday, October 6th. Barclays reiterated an “overweight” rating and set a $70.00 price target (up from $64.00) on shares of Gildan Activewear in a research report on Thursday, October 30th. TD Securities restated a “buy” rating and set a $77.00 price objective on shares of Gildan Activewear in a research report on Tuesday, January 27th. Finally, UBS Group reaffirmed a “buy” rating and issued a $110.00 target price (up from $80.00) on shares of Gildan Activewear in a research report on Tuesday, December 16th. Twelve analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Gildan Activewear presently has a consensus rating of “Moderate Buy” and a consensus target price of $77.54.

Gildan Activewear Stock Performance

Gildan Activewear stock opened at $68.97 on Tuesday. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.01 and a quick ratio of 0.88. Gildan Activewear has a 12 month low of $37.16 and a 12 month high of $69.16. The company has a fifty day moving average price of $62.69 and a two-hundred day moving average price of $58.49. The company has a market cap of $12.77 billion, a PE ratio of 22.04 and a beta of 1.08.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. JCIC Asset Management Inc. bought a new position in shares of Gildan Activewear in the third quarter valued at $6,920,000. Northwest & Ethical Investments L.P. boosted its position 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 purchasing an additional 9,774 shares during the period. Oakcliff Capital Partners LP increased its stake in Gildan Activewear by 11.4% in the 2nd quarter. Oakcliff Capital Partners LP now owns 681,689 shares of the textile maker’s stock worth $33,566,000 after purchasing an additional 70,000 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its holdings in Gildan Activewear by 4.6% during the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 11,207 shares of the textile maker’s stock worth $552,000 after buying an additional 493 shares during the period. Finally, Bank of Nova Scotia raised its holdings in Gildan Activewear by 14.0% during the 2nd quarter. Bank of Nova Scotia now owns 528,681 shares of the textile maker’s stock worth $26,043,000 after buying an additional 65,090 shares during the period. 82.83% of the stock is owned by institutional investors and hedge funds.

Gildan Activewear Company Profile

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.