Gildan Activewear Inc. (NYSE:GIL) Receives $60.00 Consensus PT from Brokerages

Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) has received an average recommendation of “Buy” from the nine ratings firms that are presently covering the firm, Marketbeat.com reports. Nine equities research analysts have rated the stock with a buy recommendation. The average 12 month price objective among brokerages that have covered the stock in the last year is $60.00.

A number of research analysts recently issued reports on GIL shares. Citigroup lifted their target price on Gildan Activewear from $59.00 to $62.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. TD Securities boosted their target price on shares of Gildan Activewear from $62.00 to $65.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Canaccord Genuity Group raised their target price on shares of Gildan Activewear from $53.00 to $58.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. CIBC upped their price target on Gildan Activewear from $56.00 to $60.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. Finally, UBS Group raised their price objective on Gildan Activewear from $60.00 to $69.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th.

Gildan Activewear Trading Up 0.3 %

Shares of NYSE:GIL opened at $44.94 on Tuesday. Gildan Activewear has a twelve month low of $32.23 and a twelve month high of $55.39. The company has a current ratio of 2.22, a quick ratio of 0.98 and a debt-to-equity ratio of 0.92. The firm has a market cap of $6.83 billion, a P/E ratio of 17.98, a P/E/G ratio of 1.76 and a beta of 1.39. The company has a 50 day moving average of $50.21 and a 200-day moving average of $48.66.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued its quarterly earnings results on Wednesday, February 19th. The textile maker reported $0.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.30). Gildan Activewear had a net margin of 12.26% and a return on equity of 28.80%. The firm had revenue of $822.00 million for the quarter, compared to the consensus estimate of $805.75 million. During the same period in the previous year, the business posted $0.75 earnings per share. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. As a group, analysts anticipate that Gildan Activewear will post 3.48 earnings per share for the current fiscal year.

Gildan Activewear Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Wednesday, March 12th will be paid a dividend of $0.226 per share. This is an increase from Gildan Activewear’s previous quarterly dividend of $0.15. This represents a $0.90 annualized dividend and a yield of 2.01%. The ex-dividend date of this dividend is Wednesday, March 12th. Gildan Activewear’s payout ratio is 36.00%.

Institutional Investors Weigh In On Gildan Activewear

Institutional investors have recently bought and sold shares of the business. Syon Capital LLC raised its position in Gildan Activewear by 3.9% during the fourth quarter. Syon Capital LLC now owns 6,524 shares of the textile maker’s stock valued at $307,000 after acquiring an additional 242 shares in the last quarter. Fifth Third Bancorp increased its stake in shares of Gildan Activewear by 61.8% during the 4th quarter. Fifth Third Bancorp now owns 872 shares of the textile maker’s stock worth $41,000 after purchasing an additional 333 shares during the last quarter. Cooper Financial Group raised its holdings in shares of Gildan Activewear by 2.1% during the 4th quarter. Cooper Financial Group now owns 16,268 shares of the textile maker’s stock valued at $765,000 after purchasing an additional 340 shares in the last quarter. Huntington National Bank lifted its stake in shares of Gildan Activewear by 16.4% in the 4th quarter. Huntington National Bank now owns 2,803 shares of the textile maker’s stock valued at $132,000 after purchasing an additional 395 shares during the last quarter. Finally, TD Private Client Wealth LLC boosted its stake in shares of Gildan Activewear by 19.1% during the 4th quarter. TD Private Client Wealth LLC now owns 3,069 shares of the textile maker’s stock worth $144,000 after acquiring an additional 492 shares in the last quarter. 82.83% of the stock is currently owned by institutional investors and hedge funds.

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.