Gildan Activewear (NYSE:GIL) Hits New 12-Month High - Here's Why

Gildan Activewear Inc. (NYSE:GIL - Get Free Report) TSE: GIL shares hit a new 52-week high during trading on Thursday . The stock traded as high as $53.29 and last traded at $52.89, with a volume of 20920 shares trading hands. The stock had previously closed at $52.49.

Analyst Ratings Changes

GIL has been the subject of several recent analyst reports. CIBC boosted their price target on Gildan Activewear from $48.00 to $56.00 and gave the stock an "outperform" rating in a research note on Friday, November 1st. UBS Group raised Gildan Activewear from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $50.00 to $60.00 in a research report on Friday, January 10th. TD Securities raised their price target on shares of Gildan Activewear from $58.00 to $60.00 and gave the company a "buy" rating in a report on Monday, December 2nd. Stifel Nicolaus boosted their price objective on shares of Gildan Activewear from $54.00 to $60.00 and gave the company a "buy" rating in a report on Friday, November 1st. Finally, Citigroup raised their target price on shares of Gildan Activewear from $54.00 to $59.00 and gave the stock a "buy" rating in a report on Friday, November 1st. Nine research analysts have rated the stock with a buy rating, According to MarketBeat, Gildan Activewear presently has a consensus rating of "Buy" and a consensus target price of $54.78.

Gildan Activewear Trading Down 1.0 %

The company has a quick ratio of 0.98, a current ratio of 2.31 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $7.73 billion, a PE ratio of 20.03, a PEG ratio of 1.71 and a beta of 1.41. The stock's fifty day simple moving average is $48.96 and its 200 day simple moving average is $46.92.

Hedge Funds Weigh In On Gildan Activewear

A number of institutional investors have recently bought and sold shares of GIL. Creative Planning increased its position in Gildan Activewear by 26.4% in the second quarter. Creative Planning now owns 11,743 shares of the textile maker's stock worth $445,000 after buying an additional 2,456 shares in the last quarter. Cetera Investment Advisers grew its stake in shares of Gildan Activewear by 194.1% during the 2nd quarter. Cetera Investment Advisers now owns 28,958 shares of the textile maker's stock valued at $1,098,000 after acquiring an additional 19,112 shares during the period. CWM LLC increased its holdings in Gildan Activewear by 23.0% in the 3rd quarter. CWM LLC now owns 1,698 shares of the textile maker's stock worth $80,000 after acquiring an additional 318 shares in the last quarter. Willis Investment Counsel raised its stake in Gildan Activewear by 3.9% during the 3rd quarter. Willis Investment Counsel now owns 34,545 shares of the textile maker's stock worth $1,627,000 after acquiring an additional 1,296 shares during the period. Finally, Laurus Investment Counsel Inc. purchased a new stake in shares of Gildan Activewear in the third quarter worth $203,000. 82.83% of the stock is owned by institutional investors.

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.