Gildan Activewear (NYSE:GIL) Stock Price Expected to Rise, TD Securities Analyst Says

Gildan Activewear (NYSE:GIL) (TSE:GIL) had its price objective boosted by TD Securities from $62.00 to $65.00 in a report released on Thursday morning,BayStreet.CA reports. The firm currently has a buy rating on the textile maker’s stock.

Other research analysts have also issued research reports about the company. BMO Capital Markets increased their target price on Gildan Activewear from $58.00 to $64.00 and gave the company an “outperform” rating in a research report on Thursday. CIBC increased their target price on Gildan Activewear from $56.00 to $60.00 and gave the company an “outperform” rating in a research report on Thursday. Stifel Nicolaus raised their price objective on Gildan Activewear from $60.00 to $65.00 and gave the company a “buy” rating in a report on Thursday. Canaccord Genuity Group raised their price objective on Gildan Activewear from $53.00 to $58.00 and gave the company a “buy” rating in a report on Thursday. Finally, Citigroup raised their price objective on Gildan Activewear from $59.00 to $62.00 and gave the company a “buy” rating in a report on Thursday. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat, Gildan Activewear currently has a consensus rating of “Buy” and an average target price of $60.00.

Gildan Activewear Trading Down 1.7 %

Shares of NYSE:GIL opened at $54.18 on Thursday. Gildan Activewear has a 1 year low of $32.23 and a 1 year high of $55.39. The firm has a market capitalization of $8.24 billion, a price-to-earnings ratio of 21.67, a price-to-earnings-growth ratio of 1.76 and a beta of 1.41. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.22 and a quick ratio of 0.98. The business’s 50 day moving average price is $49.57 and its 200-day moving average price is $47.63.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last announced its 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 business had revenue of $822.00 million for the quarter, compared to analysts’ expectations of $805.75 million. During the same quarter last year, the business earned $0.75 EPS. The company’s quarterly revenue was up 5.0% on a year-over-year basis. On average, equities research analysts forecast that Gildan Activewear will post 3.48 earnings per share for the current fiscal year.

Gildan Activewear Increases Dividend

The business 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 $0.226 dividend. The ex-dividend date is Wednesday, March 12th. This is an increase from Gildan Activewear’s previous quarterly dividend of $0.15. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.67%. Gildan Activewear’s dividend payout ratio (DPR) is 36.00%.

Institutional Trading of Gildan Activewear

Hedge funds and other institutional investors have recently modified their holdings of the stock. Plato Investment Management Ltd acquired a new stake in shares of Gildan Activewear in the 4th quarter worth $28,000. Blue Trust Inc. increased its stake in shares of Gildan Activewear by 96.1% in the 3rd 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 last quarter. Fifth Third Bancorp increased its stake in shares of Gildan Activewear by 61.8% in the 4th quarter. Fifth Third Bancorp now owns 872 shares of the textile maker’s stock worth $41,000 after acquiring an additional 333 shares during the last quarter. Steward Partners Investment Advisory LLC increased its stake in shares of Gildan Activewear by 500.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 894 shares of the textile maker’s stock worth $42,000 after acquiring an additional 745 shares during the last quarter. Finally, Venturi Wealth Management LLC increased its position in shares of Gildan Activewear by 899.0% during the 4th quarter. Venturi Wealth Management LLC now owns 1,009 shares of the textile maker’s stock worth $47,000 after purchasing an additional 908 shares during the last quarter. 82.83% of the stock is owned by institutional investors and hedge funds.

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.