Gildan Activewear Inc. (NYSE:GIL) Receives $41.95 Average Price Target from Brokerages

Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) has been assigned an average rating of “Moderate Buy” from the thirteen analysts that are currently covering the firm, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $41.95.

A number of brokerages have weighed in on GIL. Canaccord Genuity Group increased their price target on Gildan Activewear from $42.00 to $43.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. TD Securities lifted their target price on Gildan Activewear from $42.00 to $46.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Canaccord Genuity Group increased their price target on Gildan Activewear from $42.00 to $43.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $41.00 price objective on shares of Gildan Activewear in a research report on Monday, April 8th.

Institutional Trading of Gildan Activewear

Several institutional investors and hedge funds have recently modified their holdings of the stock. CWM LLC raised its position in Gildan Activewear by 86.5% in the 4th quarter. CWM LLC now owns 1,074 shares of the textile maker’s stock valued at $35,000 after buying an additional 498 shares during the last quarter. Natixis bought a new position in shares of Gildan Activewear during the first quarter valued at about $51,000. EverSource Wealth Advisors LLC boosted its holdings in Gildan Activewear by 16.9% during the first quarter. EverSource Wealth Advisors LLC now owns 1,893 shares of the textile maker’s stock worth $66,000 after purchasing an additional 274 shares during the last quarter. UniSuper Management Pty Ltd grew its position in Gildan Activewear by 69.2% in the 1st quarter. UniSuper Management Pty Ltd now owns 2,200 shares of the textile maker’s stock worth $82,000 after purchasing an additional 900 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its stake in Gildan Activewear by 529.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,215 shares of the textile maker’s stock valued at $73,000 after buying an additional 1,863 shares during the last quarter. 82.83% of the stock is owned by hedge funds and other institutional investors.

Gildan Activewear Price Performance

Shares of GIL opened at $37.91 on Friday. The business has a 50-day moving average of $36.20 and a 200-day moving average of $34.90. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.38 and a quick ratio of 0.92. The company has a market capitalization of $6.39 billion, a price-to-earnings ratio of 12.81, a price-to-earnings-growth ratio of 1.44 and a beta of 1.43. Gildan Activewear has a 1 year low of $26.99 and a 1 year high of $39.07.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last released its earnings results on Wednesday, May 1st. The textile maker reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.07. Gildan Activewear had a net margin of 16.14% and a return on equity of 24.00%. The business had revenue of $695.80 million during the quarter, compared to the consensus estimate of $692.94 million. During the same quarter in the prior year, the firm posted $0.45 EPS. The company’s revenue for the quarter was down 1.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Gildan Activewear will post 2.92 earnings per share for the current year.

Gildan Activewear Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Thursday, May 23rd were paid a dividend of $0.205 per share. The ex-dividend date was Wednesday, May 22nd. This represents a $0.82 dividend on an annualized basis and a yield of 2.16%. Gildan Activewear’s dividend payout ratio (DPR) is currently 27.70%.

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.