Gildan Activewear (NYSE:GIL) Price Target Raised to $72.00

Gildan Activewear (NYSE:GIL) (TSE:GIL) had its price target raised by Scotiabank from $66.00 to $72.00 in a research report report published on Tuesday, MarketBeat reports. The firm currently has a sector outperform rating on the textile maker’s stock.

A number of other research analysts also recently issued reports on the company. Citigroup downgraded Gildan Activewear from a “buy” rating to a “neutral” rating and lifted their price target for the company from $60.00 to $63.00 in a report on Monday, October 20th. UBS Group reiterated a “buy” rating and issued a $110.00 target price (up previously from $80.00) on shares of Gildan Activewear in a research note on Tuesday, December 16th. National Bankshares boosted their target price on shares of Gildan Activewear from $92.00 to $97.00 and gave the stock an “outperform” rating in a report on Monday. TD Securities restated a “buy” rating and issued a $77.00 price target on shares of Gildan Activewear in a report on Tuesday, January 27th. Finally, Barclays reiterated an “overweight” rating and set a $70.00 price objective (up previously from $64.00) on shares of Gildan Activewear in a research note on Thursday, October 30th. Twelve research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $77.54.

Gildan Activewear Price Performance

Shares of GIL opened at $67.65 on Tuesday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.88 and a current ratio of 2.01. The company has a 50 day moving average price of $62.89 and a 200-day moving average price of $58.55. Gildan Activewear has a fifty-two week low of $37.16 and a fifty-two week high of $69.16. The stock has a market capitalization of $12.53 billion, a PE ratio of 21.61 and a beta of 1.08.

Institutional Trading of Gildan Activewear

Several large investors have recently bought and sold shares of GIL. Norges Bank purchased a new position in shares of Gildan Activewear during the 2nd quarter valued at about $101,409,000. Mackenzie Financial Corp boosted its stake in shares of Gildan Activewear by 61.9% in the second quarter. Mackenzie Financial Corp now owns 4,434,020 shares of the textile maker’s stock worth $218,622,000 after buying an additional 1,695,329 shares during the last quarter. Vanguard Group Inc. grew its holdings in Gildan Activewear by 26.0% during the fourth quarter. Vanguard Group Inc. now owns 7,566,962 shares of the textile maker’s stock worth $472,964,000 after acquiring an additional 1,561,729 shares during the period. Lazard Asset Management LLC raised its position in Gildan Activewear by 95.2% during the third quarter. Lazard Asset Management LLC now owns 2,799,309 shares of the textile maker’s stock valued at $161,749,000 after acquiring an additional 1,364,953 shares in the last quarter. Finally, Picton Mahoney Asset Management acquired a new position in Gildan Activewear in the second quarter valued at approximately $65,409,000. 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.