Gildan Activewear (NYSE:GIL) Given New $97.00 Price Target at National Bankshares

Gildan Activewear (NYSE:GIL) (TSE:GIL) had its price target lifted by analysts at National Bankshares from $92.00 to $97.00 in a research note issued to investors on Monday,BayStreet.CA reports. The firm currently has an “outperform” rating on the textile maker’s stock. National Bankshares’ price objective points to a potential upside of 47.18% from the stock’s previous close.

Several other analysts have also recently commented on GIL. Barclays restated an “overweight” rating and issued a $70.00 target price (up from $64.00) on shares of Gildan Activewear in a research report on Thursday, October 30th. Scotiabank set a $66.00 price target on shares of Gildan Activewear and gave the stock an “outperform” rating in a research report on Thursday, October 30th. BMO Capital Markets boosted their price objective on shares of Gildan Activewear from $70.00 to $78.00 and gave the company an “outperform” rating in a research report on Monday, January 26th. Zacks Research cut Gildan Activewear from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 23rd. Finally, Citigroup lowered shares of Gildan Activewear from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $60.00 to $63.00 in a research note on Monday, October 20th. Twelve research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $77.08.

Gildan Activewear Trading Up 1.4%

Shares of NYSE:GIL traded up $0.93 during midday trading on Monday, reaching $65.91. The company’s stock had a trading volume of 342,291 shares, compared to its average volume of 1,093,452. The company has a quick ratio of 0.88, a current ratio of 2.01 and a debt-to-equity ratio of 0.94. The firm has a market cap of $12.20 billion, a price-to-earnings ratio of 21.03 and a beta of 1.08. Gildan Activewear has a 1 year low of $37.16 and a 1 year high of $67.96. The business has a 50 day moving average price of $62.07 and a 200 day moving average price of $58.22.

Hedge Funds Weigh In On Gildan Activewear

Several institutional investors have recently modified their holdings of the company. VELA Investment Management LLC bought a new position in shares of Gildan Activewear during the 4th quarter valued at $3,104,000. Fifth Third Bancorp increased its holdings in Gildan Activewear by 115.8% during the 4th quarter. Fifth Third Bancorp now owns 1,163 shares of the textile maker’s stock valued at $73,000 after purchasing an additional 624 shares during the period. Levin Capital Strategies L.P. bought a new position in shares of Gildan Activewear during the fourth quarter valued at approximately $250,000. D.A. Davidson & CO. purchased a new position in Gildan Activewear during the 4th quarter valued at $212,000. Finally, Camelot Portfolios LLC bought a new position in Gildan Activewear in the 4th quarter worth $250,000. 82.83% of the stock is currently owned by institutional investors.

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.