Scotiabank Issues Positive Forecast for Gildan Activewear (NYSE:GIL) Stock Price

Gildan Activewear (NYSE:GIL) (TSE:GIL) had its price target lifted by investment analysts at Scotiabank from $66.00 to $72.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has a “sector outperform” rating on the textile maker’s stock. Scotiabank’s target price suggests a potential upside of 8.08% from the stock’s previous close.

A number of other brokerages also recently commented on GIL. Royal Bank Of Canada upped their target price on Gildan Activewear from $68.00 to $71.00 and gave the company an “outperform” rating in a research note on Monday, October 27th. Zacks Research downgraded shares of Gildan Activewear from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 23rd. TD Securities reissued a “buy” rating and set a $77.00 price objective on shares of Gildan Activewear in a research note on Tuesday, January 27th. TD Cowen lifted their target price on Gildan Activewear from $67.00 to $73.00 and gave the company a “buy” rating in a report on Monday, October 6th. Finally, National Bankshares upped their price target on Gildan Activewear from $92.00 to $97.00 and gave the stock an “outperform” rating in a research note on Monday. Twelve equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $77.54.

Gildan Activewear Stock Performance

NYSE:GIL opened at $66.62 on Tuesday. Gildan Activewear has a 1-year low of $37.16 and a 1-year high of $67.96. The firm has a 50 day simple moving average of $62.26 and a 200-day simple moving average of $58.31. The firm has a market cap of $12.34 billion, a PE ratio of 21.28 and a beta of 1.08. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.01 and a quick ratio of 0.88.

Institutional Trading of Gildan Activewear

Institutional investors and hedge funds have recently made changes to their positions in the stock. Washburn Capital Management Inc. grew its stake in Gildan Activewear by 3.8% during the 4th quarter. Washburn Capital Management Inc. now owns 4,257 shares of the textile maker’s stock worth $266,000 after buying an additional 157 shares during the last quarter. Integrated Advisors Network LLC boosted its holdings in shares of Gildan Activewear by 3.0% during the third quarter. Integrated Advisors Network LLC now owns 6,365 shares of the textile maker’s stock valued at $368,000 after acquiring an additional 185 shares during the period. Bank of Nova Scotia Trust Co. boosted its holdings in shares of Gildan Activewear by 2.5% during the second quarter. Bank of Nova Scotia Trust Co. now owns 8,499 shares of the textile maker’s stock valued at $418,000 after acquiring an additional 207 shares during the period. Signaturefd LLC grew its position in shares of Gildan Activewear by 2.8% during the third quarter. Signaturefd LLC now owns 7,659 shares of the textile maker’s stock worth $443,000 after acquiring an additional 209 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale increased its holdings in shares of Gildan Activewear by 0.3% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 73,619 shares of the textile maker’s stock worth $3,612,000 after acquiring an additional 231 shares during the period. 82.83% of the stock is currently 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.