Gildan Activewear, Inc. (GIL) Earns Hold Rating from Brean Capital
Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL)‘s stock had its “hold” rating reissued by equities research analysts at Brean Capital in a note issued to investors on Wednesday.
Several other equities research analysts have also recently issued reports on GIL. BMO Capital Markets restated an “outperform” rating and set a $31.00 price objective (up from $30.00) on shares of Gildan Activewear in a research report on Wednesday, December 7th. Credit Suisse Group set a $43.00 price objective on shares of Gildan Activewear and gave the stock a “buy” rating in a research report on Friday, November 11th. RBC Capital Markets restated an “outperform” rating and set a $43.00 price objective (down from $45.50) on shares of Gildan Activewear in a research report on Sunday, November 6th. TD Securities restated a “buy” rating and set a $32.00 price objective (down from $33.00) on shares of Gildan Activewear in a research report on Sunday, November 6th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $34.00 price target (up from $32.00) on shares of Gildan Activewear in a research report on Friday, November 4th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $35.71.
Gildan Activewear (NYSE:GIL) traded down 2.50% during midday trading on Wednesday, hitting $25.00. 749,830 shares of the stock were exchanged. The firm’s 50 day moving average price is $26.71 and its 200 day moving average price is $27.99. The company has a market cap of $5.80 billion, a PE ratio of 17.56 and a beta of 1.20. Gildan Activewear has a 12 month low of $22.43 and a 12 month high of $32.20.
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Gildan Activewear (NYSE:GIL) last released its quarterly earnings data on Thursday, November 3rd. The company reported $0.50 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.51 by $0.01. Gildan Activewear had a return on equity of 16.67% and a net margin of 13.38%. The firm had revenue of $715 million for the quarter, compared to analyst estimates of $723.97 million. During the same quarter in the previous year, the business posted $0.52 earnings per share. Gildan Activewear’s revenue for the quarter was up 6.0% on a year-over-year basis. On average, equities research analysts forecast that Gildan Activewear will post $1.49 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, December 12th. Investors of record on Friday, November 18th were paid a $0.078 dividend. The ex-dividend date was Wednesday, November 16th. This represents a $0.31 dividend on an annualized basis and a yield of 1.22%. Gildan Activewear’s dividend payout ratio is currently 21.68%.
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A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in Gildan Activewear by 51.3% in the second quarter. Vanguard Group Inc. now owns 5,970,012 shares of the company’s stock worth $175,100,000 after buying an additional 2,022,986 shares during the last quarter. Guardian Capital LP boosted its stake in Gildan Activewear by 9.1% in the second quarter. Guardian Capital LP now owns 5,925,111 shares of the company’s stock worth $172,347,000 after buying an additional 493,020 shares during the last quarter. USS Investment Management Ltd boosted its stake in Gildan Activewear by 52.9% in the third quarter. USS Investment Management Ltd now owns 4,008,498 shares of the company’s stock worth $112,112,000 after buying an additional 1,386,358 shares during the last quarter. Cooke & Bieler LP boosted its stake in Gildan Activewear by 0.3% in the third quarter. Cooke & Bieler LP now owns 3,943,210 shares of the company’s stock worth $110,212,000 after buying an additional 13,039 shares during the last quarter. Finally, TD Asset Management Inc. boosted its stake in Gildan Activewear by 1.3% in the third quarter. TD Asset Management Inc. now owns 3,513,472 shares of the company’s stock worth $97,952,000 after buying an additional 44,024 shares during the last quarter. Institutional investors own 72.53% of the company’s stock.
Gildan Activewear Company Profile
Gildan Activewear Inc is a manufacturer and marketer of branded basic family apparel. The Company’s segments include Printwear and Branded Apparel. It offers T-shirts, fleece, sport shirts, underwear, socks, hosiery and shapewear. It markets its products through approximately two main distribution channels.
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