Gildan Activewear Inc. (NYSE:GIL) Receives Average Rating of “Buy” from Brokerages

Shares of Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) have earned a consensus rating of “Buy” from the nine brokerages that are presently covering the company, Marketbeat Ratings reports. Nine analysts have rated the stock with a buy recommendation. The average 1 year price target among analysts that have issued a report on the stock in the last year is $52.61.

GIL has been the topic of several research analyst reports. Citigroup boosted their price objective on Gildan Activewear from $54.00 to $59.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Stifel Nicolaus increased their price objective on shares of Gildan Activewear from $54.00 to $60.00 and gave the company a “buy” rating in a report on Friday, November 1st. TD Securities boosted their target price on shares of Gildan Activewear from $58.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. Canaccord Genuity Group raised their target price on shares of Gildan Activewear from $52.00 to $53.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, BMO Capital Markets boosted their price target on shares of Gildan Activewear from $47.00 to $58.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st.

Gildan Activewear Stock Up 0.9 %

GIL stock opened at $46.91 on Thursday. The business’s 50-day moving average price is $48.37 and its 200-day moving average price is $45.04. The stock has a market cap of $7.17 billion, a P/E ratio of 18.54, a PEG ratio of 1.82 and a beta of 1.41. 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.

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, meeting the consensus estimate of $0.85. The business had revenue of $891.10 million for the quarter, compared to the consensus estimate of $882.85 million. Gildan Activewear had a net margin of 13.06% and a return on equity of 26.88%. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.74 earnings per share. On average, equities research analysts forecast 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 given a $0.152 dividend. The ex-dividend date was Thursday, November 21st. This represents a $0.61 annualized dividend and a yield of 1.30%. Gildan Activewear’s dividend payout ratio is currently 32.41%.

Institutional Investors Weigh In On Gildan Activewear

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

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.