TD Securities Increases Gildan Activewear (NYSE:GIL) Price Target to $60.00

Gildan Activewear (NYSE:GIL) (TSE:GIL) had its price objective boosted by TD Securities from $58.00 to $60.00 in a research note issued to investors on Monday,BayStreet.CA reports. They currently have a buy rating on the textile maker’s stock.

Other research analysts have also issued reports about the stock. CIBC boosted their price objective on shares of Gildan Activewear from $48.00 to $56.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Citigroup boosted their price target on Gildan Activewear from $54.00 to $59.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Stifel Nicolaus raised their price objective on Gildan Activewear from $54.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, November 1st. BMO Capital Markets boosted their target price on Gildan Activewear from $47.00 to $58.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Finally, Canaccord Genuity Group raised their price target on Gildan Activewear from $52.00 to $53.00 and gave the company a “buy” rating in a report on Friday, November 1st. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $51.05.

Gildan Activewear Stock Up 1.0 %

GIL stock opened at $50.11 on Monday. The company has a market cap of $7.72 billion, a price-to-earnings ratio of 19.81, a P/E/G ratio of 1.85 and a beta of 1.44. Gildan Activewear has a twelve month low of $30.68 and a twelve month high of $50.60. The business has a 50 day moving average price of $48.22 and a two-hundred day moving average price of $43.14. 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 (NYSE:GIL) (TSE:GIL) last released its 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 during the quarter, compared to analysts’ expectations of $882.85 million. Gildan Activewear had a net margin of 13.06% and a return on equity of 26.88%. The firm’s revenue was up 2.4% on a year-over-year basis. During the same period last year, the business earned $0.74 earnings per share. Analysts anticipate that Gildan Activewear will post 2.97 EPS for the current fiscal year.

Gildan Activewear Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Thursday, November 21st will be issued a dividend of $0.152 per share. This represents a $0.61 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date is Thursday, November 21st. Gildan Activewear’s dividend payout ratio is currently 32.41%.

Institutional Investors Weigh In On Gildan Activewear

A number of institutional investors have recently modified their holdings of GIL. Franklin Resources Inc. raised its stake in Gildan Activewear by 6.5% in the 3rd quarter. Franklin Resources Inc. now owns 35,135 shares of the textile maker’s stock worth $1,702,000 after purchasing an additional 2,138 shares in the last quarter. Synovus Financial Corp increased its holdings in shares of Gildan Activewear by 76.1% during the third quarter. Synovus Financial Corp now owns 40,798 shares of the textile maker’s stock worth $1,922,000 after purchasing an additional 17,634 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in shares of Gildan Activewear in the third quarter valued at approximately $597,000. Sanctuary Advisors LLC bought a new stake in shares of Gildan Activewear in the third quarter valued at approximately $969,000. Finally, Geode Capital Management LLC boosted its stake in shares of Gildan Activewear by 7.0% in the third quarter. Geode Capital Management LLC now owns 637,407 shares of the textile maker’s stock valued at $29,708,000 after buying an additional 41,735 shares during the period. 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.