Gildan Activewear Inc. (NYSE:GIL) Receives $50.85 Consensus Target Price from Analysts

Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) has been assigned an average rating of “Moderate Buy” from the twelve research firms that are currently covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $50.85.

Several research firms have recently issued reports on GIL. Stifel Nicolaus raised their price objective on Gildan Activewear from $54.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Citigroup raised their price target on Gildan Activewear from $54.00 to $59.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Canaccord Genuity Group increased their price objective on shares of Gildan Activewear from $52.00 to $53.00 and gave the stock a “buy” rating in a report on Friday, November 1st. TD Securities boosted their target price on shares of Gildan Activewear from $56.00 to $58.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, Royal Bank of Canada increased their price target on shares of Gildan Activewear from $41.00 to $44.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Cooke & Bieler LP boosted its position in shares of Gildan Activewear by 2.7% in the second quarter. Cooke & Bieler LP now owns 10,252,785 shares of the textile maker’s stock worth $388,786,000 after buying an additional 271,273 shares during the period. Janus Henderson Group PLC boosted its holdings in Gildan Activewear by 3.6% in the 3rd quarter. Janus Henderson Group PLC now owns 6,841,572 shares of the textile maker’s stock worth $322,298,000 after acquiring an additional 240,375 shares during the period. Cardinal Capital Management Inc. grew its position in Gildan Activewear by 1.5% in the second quarter. Cardinal Capital Management Inc. now owns 2,907,144 shares of the textile maker’s stock valued at $110,197,000 after acquiring an additional 42,094 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in Gildan Activewear by 14.4% in the second quarter. The Manufacturers Life Insurance Company now owns 2,568,733 shares of the textile maker’s stock valued at $97,290,000 after acquiring an additional 324,304 shares in the last quarter. Finally, Simcoe Capital Management LLC raised its stake in shares of Gildan Activewear by 10.5% during the third quarter. Simcoe Capital Management LLC now owns 2,387,865 shares of the textile maker’s stock valued at $112,492,000 after purchasing an additional 226,695 shares during the period. 82.83% of the stock is owned by hedge funds and other institutional investors.

Gildan Activewear Price Performance

NYSE:GIL opened at $49.55 on Wednesday. Gildan Activewear has a 12-month low of $30.68 and a 12-month high of $50.58. The firm has a market cap of $7.63 billion, a price-to-earnings ratio of 19.58, a price-to-earnings-growth ratio of 1.86 and a beta of 1.44. The company’s 50-day moving average is $47.94 and its two-hundred day moving average is $42.72. The company has a current ratio of 2.31, a quick ratio of 0.98 and a debt-to-equity ratio of 0.81.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last announced its quarterly earnings data 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 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 quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $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 firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Thursday, November 21st will be issued a dividend of $0.152 per share. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $0.61 annualized dividend and a dividend yield of 1.23%. Gildan Activewear’s payout ratio is 32.41%.

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.