Brokerages Set Gildan Activewear Inc. (NYSE:GIL) PT at $51.05

Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) has been given a consensus recommendation of “Moderate Buy” by the ten brokerages that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $51.05.

GIL has been the topic of several recent research reports. BMO Capital Markets boosted their price target on Gildan Activewear from $47.00 to $58.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Citigroup boosted their target price on shares of Gildan Activewear from $54.00 to $59.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. CIBC raised their price target on shares of Gildan Activewear from $48.00 to $56.00 and gave the company an “outperform” rating in a report on Friday, November 1st. TD Securities lifted their price target on shares of Gildan Activewear from $58.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday, December 2nd. Finally, Stifel Nicolaus upped their price objective on shares of Gildan Activewear from $54.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, November 1st.

Gildan Activewear Price Performance

GIL opened at $46.77 on Friday. The company has a 50 day moving average of $48.61 and a two-hundred day moving average of $44.12. Gildan Activewear has a 52-week low of $30.68 and a 52-week high of $50.60. The company has a quick ratio of 0.98, a current ratio of 2.31 and a debt-to-equity ratio of 0.81. The company has a market cap of $7.15 billion, a P/E ratio of 18.49, a P/E/G ratio of 1.82 and a beta of 1.40.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last announced its quarterly earnings results on Thursday, October 31st. The textile maker reported $0.85 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.85. The firm had revenue of $891.10 million during 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 firm’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.74 EPS. On average, analysts expect that Gildan Activewear will post 2.97 earnings per share for the current year.

Gildan Activewear Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Thursday, November 21st were paid a $0.152 dividend. The ex-dividend date was Thursday, November 21st. This represents a $0.61 dividend on an annualized basis and a dividend yield of 1.30%. Gildan Activewear’s dividend payout ratio (DPR) is presently 32.41%.

Institutional Trading of Gildan Activewear

Several hedge funds and other institutional investors have recently bought and sold shares of GIL. Fortis Group Advisors LLC lifted its holdings in Gildan Activewear by 3.9% during the 3rd quarter. Fortis Group Advisors LLC now owns 6,601 shares of the textile maker’s stock worth $311,000 after buying an additional 246 shares during the last quarter. Aristides Capital LLC raised its position in shares of Gildan Activewear by 4.3% during the 2nd quarter. Aristides Capital LLC now owns 7,617 shares of the textile maker’s stock valued at $289,000 after acquiring an additional 314 shares in the last quarter. CWM LLC lifted its stake in Gildan Activewear by 23.0% during the third quarter. CWM LLC now owns 1,698 shares of the textile maker’s stock worth $80,000 after purchasing an additional 318 shares during the last quarter. Blue Trust Inc. boosted its holdings in Gildan Activewear by 96.1% in the third quarter. Blue Trust Inc. now owns 810 shares of the textile maker’s stock worth $38,000 after purchasing an additional 397 shares during the period. Finally, Azzad Asset Management Inc. ADV increased its stake in Gildan Activewear by 0.5% during the third quarter. Azzad Asset Management Inc. ADV now owns 109,947 shares of the textile maker’s stock valued at $5,180,000 after purchasing an additional 577 shares during the last quarter. 82.83% of the stock is owned by institutional investors.

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.