Gildan Activewear (NYSE:GIL) Price Target Raised to $60.00

Gildan Activewear (NYSE:GIL) (TSE:GIL) had its target price hoisted by Stifel Nicolaus from $54.00 to $60.00 in a report issued on Friday morning, BayStreet.CA reports. Stifel Nicolaus currently has a buy rating on the textile maker’s stock.

GIL has been the subject of a number of other reports. BMO Capital Markets lifted their price target on shares of Gildan Activewear from $47.00 to $58.00 and gave the company an “outperform” rating in a research report on Friday. CIBC lifted their price target on shares of Gildan Activewear from $48.00 to $56.00 and gave the company an “outperform” rating in a research report on Friday. Canaccord Genuity Group lifted their price target on shares of Gildan Activewear from $52.00 to $53.00 and gave the company a “buy” rating in a research report on Friday. Citigroup raised their price objective on shares of Gildan Activewear from $54.00 to $59.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Royal Bank of Canada raised their price objective on shares of Gildan Activewear from $41.00 to $44.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.85.

Gildan Activewear Stock Performance

NYSE GIL opened at $49.66 on Friday. The company has a quick ratio of 0.97, a current ratio of 2.35 and a debt-to-equity ratio of 0.55. Gildan Activewear has a 52-week low of $28.95 and a 52-week high of $49.92. The business’s 50-day moving average price is $46.45 and its 200 day moving average price is $40.94. The firm has a market cap of $7.80 billion, a P/E ratio of 19.63, a P/E/G ratio of 1.85 and a beta of 1.44.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last announced its quarterly earnings data on Thursday, October 31st. The textile maker reported $0.85 EPS for the quarter, meeting analysts’ consensus estimates of $0.85. Gildan Activewear had a net margin of 13.06% and a return on equity of 25.66%. The firm had revenue of $891.10 million during the quarter, compared to the consensus estimate of $882.85 million. During the same quarter last year, the firm earned $0.74 earnings per share. The firm’s revenue was up 2.4% compared to the same quarter last year. On average, equities research analysts expect that Gildan Activewear will post 2.93 earnings per share for the current year.

Gildan Activewear Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Thursday, November 21st will be paid a $0.152 dividend. The ex-dividend date is Thursday, November 21st. This represents a $0.61 annualized dividend and a yield of 1.22%. Gildan Activewear’s payout ratio is currently 32.41%.

Institutional Trading of Gildan Activewear

Several institutional investors have recently made changes to their positions in the stock. Atria Investments Inc purchased a new stake in shares of Gildan Activewear during the 3rd quarter valued at $391,000. Verdence Capital Advisors LLC grew its stake in shares of Gildan Activewear by 6.7% during the 3rd quarter. Verdence Capital Advisors LLC now owns 16,097 shares of the textile maker’s stock valued at $758,000 after buying an additional 1,004 shares during the period. Fiera Capital Corp grew its stake in shares of Gildan Activewear by 5.3% during the 3rd quarter. Fiera Capital Corp now owns 255,734 shares of the textile maker’s stock valued at $12,053,000 after buying an additional 12,933 shares during the period. Intact Investment Management Inc. grew its stake in shares of Gildan Activewear by 12.0% during the 3rd quarter. Intact Investment Management Inc. now owns 987,250 shares of the textile maker’s stock valued at $46,473,000 after buying an additional 106,150 shares during the period. Finally, US Bancorp DE grew its stake in shares of Gildan Activewear by 24.6% during the 3rd quarter. US Bancorp DE now owns 9,359 shares of the textile maker’s stock valued at $441,000 after buying an additional 1,849 shares during the period. 82.83% of the stock is owned by hedge funds and other 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.