Gildan Activewear Inc. (NYSE:GIL) Given Average Rating of “Buy” by Analysts

Shares of Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) have been given an average rating of “Buy” by the ten brokerages that are presently covering the firm, MarketBeat Ratings reports. Ten equities research analysts have rated the stock with a buy recommendation. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $53.35.

GIL has been the subject of a number of analyst reports. BMO Capital Markets increased their price objective on Gildan Activewear from $47.00 to $58.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. UBS Group upgraded shares of Gildan Activewear from a “neutral” rating to a “buy” rating and upped their price target for the company from $50.00 to $60.00 in a report on Friday, January 10th. Stifel Nicolaus raised their price target on shares of Gildan Activewear from $54.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Citigroup boosted their price objective on shares of Gildan Activewear from $54.00 to $59.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, CIBC increased their target price on shares of Gildan Activewear from $48.00 to $56.00 and gave the stock an “outperform” rating in a report on Friday, November 1st.

Institutional Trading of Gildan Activewear

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Simcoe Capital Management LLC raised its position in shares of Gildan Activewear by 10.5% in the 3rd quarter. Simcoe Capital Management LLC now owns 2,387,865 shares of the textile maker’s stock worth $112,492,000 after acquiring an additional 226,695 shares in the last quarter. Intech Investment Management LLC purchased a new stake in Gildan Activewear in the third quarter worth $544,000. Tacita Capital Inc raised its holdings in Gildan Activewear by 1,025.5% in the third quarter. Tacita Capital Inc now owns 13,056 shares of the textile maker’s stock worth $615,000 after purchasing an additional 11,896 shares in the last quarter. Bridges Investment Management Inc. purchased a new position in Gildan Activewear during the second quarter valued at $1,425,000. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of Gildan Activewear by 7,709.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 125,181 shares of the textile maker’s stock valued at $5,899,000 after buying an additional 123,578 shares in the last quarter. 82.83% of the stock is currently owned by hedge funds and other institutional investors.

Gildan Activewear Stock Performance

Gildan Activewear stock opened at $49.53 on Thursday. The firm has a fifty day simple moving average of $48.26 and a two-hundred day simple moving average of $45.40. The company has a quick ratio of 0.98, a current ratio of 2.31 and a debt-to-equity ratio of 0.81. Gildan Activewear has a twelve month low of $30.68 and a twelve month high of $50.60. The company has a market capitalization of $7.55 billion, a PE ratio of 19.58, a P/E/G ratio of 1.82 and a beta of 1.41.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last released its quarterly earnings data on Thursday, October 31st. The textile maker reported $0.85 EPS for the quarter, hitting the consensus estimate of $0.85. The firm had revenue of $891.10 million for the quarter, compared to the consensus estimate of $882.85 million. Gildan Activewear had a return on equity of 26.88% and a net margin of 13.06%. The company’s quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.74 earnings per share. Research analysts expect that Gildan Activewear will post 2.97 EPS for the current year.

Gildan Activewear Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Thursday, November 21st were paid a $0.152 dividend. This represents a $0.61 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date of this dividend was Thursday, November 21st. Gildan Activewear’s payout ratio is currently 32.41%.

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.