Brokerages Set Gildan Activewear Inc. (NYSE:GIL) Target Price at $53.35

Shares of Gildan Activewear Inc. (NYSE:GIL - Get Free Report) TSE: GIL have earned an average rating of "Buy" from the ten ratings firms that are covering the company, Marketbeat.com reports. Ten research analysts have rated the stock with a buy rating. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $53.35.

A number of equities research analysts recently weighed in on GIL shares. Citigroup boosted their price target on shares of Gildan Activewear from $54.00 to $59.00 and gave the company a "buy" rating in a research report on Friday, November 1st. BMO Capital Markets upped their target price on Gildan Activewear from $47.00 to $58.00 and gave the company an "outperform" rating in a research report on Friday, November 1st. Canaccord Genuity Group raised their price target on Gildan Activewear from $52.00 to $53.00 and gave the stock a "buy" rating in a research note on Friday, November 1st. TD Securities boosted their price objective on Gildan Activewear from $58.00 to $60.00 and gave the company a "buy" rating in a research note on Monday, December 2nd. Finally, UBS Group upgraded shares of Gildan Activewear from a "neutral" rating to a "buy" rating and raised their target price for the stock from $50.00 to $60.00 in a research report on Friday, January 10th.

Institutional Investors Weigh In On Gildan Activewear

Hedge funds have recently modified their holdings of the stock. Raymond James Financial Inc. purchased a new stake in Gildan Activewear in the 4th quarter valued at approximately $3,744,000. Verdence Capital Advisors LLC grew its holdings in Gildan Activewear by 15.4% during the fourth quarter. Verdence Capital Advisors LLC now owns 18,580 shares of the textile maker's stock worth $874,000 after acquiring an additional 2,483 shares during the period. Aigen Investment Management LP raised its position in Gildan Activewear by 12.0% in the fourth quarter. Aigen Investment Management LP now owns 7,668 shares of the textile maker's stock worth $361,000 after acquiring an additional 822 shares in the last quarter. Seizert Capital Partners LLC raised its position in Gildan Activewear by 34.7% in the fourth quarter. Seizert Capital Partners LLC now owns 112,483 shares of the textile maker's stock worth $5,292,000 after acquiring an additional 29,002 shares in the last quarter. Finally, Atria Investments Inc boosted its position in shares of Gildan Activewear by 18.4% during the 4th quarter. Atria Investments Inc now owns 9,822 shares of the textile maker's stock worth $462,000 after purchasing an additional 1,529 shares in the last quarter. 82.83% of the stock is owned by institutional investors and hedge funds.

Gildan Activewear Stock Down 1.0 %

Shares of NYSE:GIL traded down $0.53 during trading on Monday, hitting $51.96. 561,456 shares of the company were exchanged, compared to its average volume of 489,498. The firm's 50 day moving average price is $48.88 and its 200-day moving average price is $46.69. Gildan Activewear has a 12-month low of $32.23 and a 12-month high of $53.29. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.31 and a quick ratio of 0.98. The stock has a market capitalization of $7.92 billion, a P/E ratio of 20.54, a PEG ratio of 1.70 and a beta of 1.41.

About Gildan Activewear

Gildan Activewear Inc manufactures and sells various apparel products in the United States, North America, Europe, Asia-Pacific, and Latin America. It provides various activewear products, including T-shirts, fleece tops and bottoms, and sports shirts under the Gildan, Gildan Performance, Gildan Hammer, Glidan Softstyle, Gildan Heavy Cotton, Gildan Ultra Cotton, Gildan DryBlend, Gildan HeavyBlend, Comfort Colors, and American Apparel brands.