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

Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) has been given a consensus rating of “Buy” by the nine ratings firms that are presently covering the firm, Marketbeat.com reports. Nine investment analysts have rated the stock with a buy rating. The average 12 month target price among analysts that have covered the stock in the last year is $60.00.

Several research firms have issued reports on GIL. Canaccord Genuity Group increased their price objective on Gildan Activewear from $53.00 to $58.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. CIBC increased their price objective on Gildan Activewear from $56.00 to $60.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. BMO Capital Markets upped their price target on Gildan Activewear from $58.00 to $64.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. UBS Group increased their price objective on shares of Gildan Activewear from $60.00 to $69.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Finally, Stifel Nicolaus boosted their target price on Gildan Activewear from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th.

Gildan Activewear Price Performance

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

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

Gildan Activewear Increases Dividend

The business also recently declared 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 represents a $0.90 dividend on an annualized basis and a yield of 2.01%. This is a positive change from Gildan Activewear’s previous quarterly dividend of $0.15. Gildan Activewear’s payout ratio is presently 36.00%.

Hedge Funds Weigh In On Gildan Activewear

A number of large investors have recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC lifted its position in shares of Gildan Activewear by 16.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 5,325 shares of the textile maker’s stock worth $251,000 after purchasing an additional 739 shares in the last quarter. Polar Asset Management Partners Inc. grew its holdings in Gildan Activewear by 55.6% during the fourth quarter. Polar Asset Management Partners Inc. now owns 26,450 shares of the textile maker’s stock worth $1,244,000 after purchasing an additional 9,450 shares during the period. Public Employees Retirement System of Ohio boosted its stake in shares of Gildan Activewear by 262.4% during the 4th quarter. Public Employees Retirement System of Ohio now owns 45,451 shares of the textile maker’s stock worth $2,138,000 after acquiring an additional 32,911 shares during the period. Vident Advisory LLC acquired a new stake in Gildan Activewear during the 4th quarter valued at $402,000. Finally, Virtus Investment Advisers Inc. bought a new position in Gildan Activewear during the fourth quarter worth $173,000. Institutional investors own 82.83% of the company’s stock.

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.