Gildan Activewear Inc. (NYSE:GIL) Receives $45.68 Consensus Target Price from Analysts

Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) has been assigned an average recommendation of “Moderate Buy” from the thirteen research firms that are covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $51.05.

Several equities analysts have recently issued reports on GIL shares. Canaccord Genuity Group upped their price target on Gildan Activewear from $52.00 to $53.00 and gave the company a “buy” rating in a research note on Friday. Citigroup upped their target price on shares of Gildan Activewear from $54.00 to $59.00 and gave the company a “buy” rating in a research report on Friday. BMO Capital Markets raised their target price on shares of Gildan Activewear from $47.00 to $58.00 and gave the company an “outperform” rating in a research note on Friday. Stifel Nicolaus boosted their price target on shares of Gildan Activewear from $54.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday. Finally, TD Securities raised their price objective on shares of Gildan Activewear from $56.00 to $58.00 and gave the company a “buy” rating in a research note on Friday.

Hedge Funds Weigh In On Gildan Activewear

Several institutional investors have recently modified their holdings of GIL. Riverview Trust Co acquired a new stake in Gildan Activewear during the 3rd quarter worth approximately $29,000. Blue Trust Inc. raised its holdings in shares of Gildan Activewear by 96.1% during the third quarter. Blue Trust Inc. now owns 810 shares of the textile maker’s stock worth $38,000 after acquiring an additional 397 shares during the period. Natixis bought a new stake in Gildan Activewear in the 1st quarter valued at $51,000. Cullen Frost Bankers Inc. acquired a new position in Gildan Activewear in the 2nd quarter worth $51,000. Finally, Tobam bought a new position in Gildan Activewear during the 2nd quarter worth about $53,000. Institutional investors own 82.83% of the company’s stock.

Gildan Activewear Trading Up 1.5 %

GIL opened at $49.66 on Friday. Gildan Activewear has a 1-year low of $28.95 and a 1-year high of $49.92. The stock has a market capitalization of $7.80 billion, a PE ratio of 20.35, a PEG ratio of 1.83 and a beta of 1.43. The company has a current ratio of 2.35, a quick ratio of 0.97 and a debt-to-equity ratio of 0.55. The firm has a 50-day moving average price of $46.45 and a two-hundred day moving average price of $40.87.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued its quarterly earnings results on Thursday, October 31st. The textile maker reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.01. Gildan Activewear had a net margin of 13.01% and a return on equity of 24.96%. The business had revenue of $891.10 million during the quarter, compared to analyst estimates of $882.85 million. During the same quarter last year, the business posted $0.74 earnings per share. Gildan Activewear’s revenue for the quarter was up 2.4% compared to the same quarter last year. As a group, equities analysts anticipate that Gildan Activewear will post 2.93 earnings per share for the current fiscal year.

Gildan Activewear Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Thursday, November 21st will be issued a $0.152 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $0.61 annualized dividend and a dividend yield of 1.22%. Gildan Activewear’s dividend payout ratio (DPR) is currently 33.61%.

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.