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

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Citigroup lifted their price target on Gildan Activewear from $54.00 to $59.00 and gave the stock a “buy” rating in a report on Friday, November 1st. UBS Group raised shares of Gildan Activewear from a “neutral” rating to a “buy” rating and boosted their target price for the company from $50.00 to $60.00 in a research report on Friday, January 10th. TD Securities raised their target price on shares of Gildan Activewear from $58.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. BMO Capital Markets lifted their price objective on Gildan Activewear from $47.00 to $58.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Finally, Canaccord Genuity Group increased their target price on Gildan Activewear from $52.00 to $53.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Ten analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $53.35.

Gildan Activewear Stock Performance

The firm has a market capitalization of $7.80 billion, a P/E ratio of 20.22, a price-to-earnings-growth ratio of 1.70 and a beta of 1.41. The company has a 50-day moving average of $48.93 and a 200-day moving average of $46.73. The company has a current ratio of 2.31, a quick ratio of 0.98 and a debt-to-equity ratio of 0.81.

Institutional Investors Weigh In On Gildan Activewear

A number of institutional investors have recently modified their holdings of the company. Janus Henderson Group PLC boosted its position in Gildan Activewear by 3.6% during the third quarter. Janus Henderson Group PLC now owns 6,841,572 shares of the textile maker’s stock valued at $322,298,000 after acquiring an additional 240,375 shares during the last quarter. Simcoe Capital Management LLC grew its stake in Gildan Activewear by 10.5% during the third quarter. Simcoe Capital Management LLC now owns 2,387,865 shares of the textile maker’s stock worth $112,492,000 after purchasing an additional 226,695 shares during the period. Vaughan Nelson Investment Management L.P. grew its position in shares of Gildan Activewear by 2.8% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 1,618,420 shares of the textile maker’s stock worth $76,244,000 after buying an additional 44,725 shares during the period. CIBC Asset Management Inc grew its holdings in Gildan Activewear by 545.1% in the fourth quarter. CIBC Asset Management Inc now owns 1,210,314 shares of the textile maker’s stock worth $57,403,000 after purchasing an additional 1,022,695 shares during the period. Finally, Intact Investment Management Inc. increased its stake in Gildan Activewear by 12.0% in the third quarter. Intact Investment Management Inc. now owns 987,250 shares of the textile maker’s stock valued at $46,473,000 after purchasing an additional 106,150 shares in the last quarter. 82.83% of the stock is owned by institutional investors.

Gildan Activewear Company Profile

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.