Gildan Activewear, Inc. (GIL) Given Average Rating of “Buy” by Brokerages
Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) has been given an average rating of “Buy” by the twelve analysts that are currently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $35.44.
GIL has been the topic of several analyst reports. Zacks Investment Research upgraded Gildan Activewear from a “hold” rating to a “buy” rating and set a $31.00 target price on the stock in a research report on Thursday, April 27th. Royal Bank Of Canada raised their target price on Gildan Activewear from $29.00 to $30.00 and gave the company an “outperform” rating in a research report on Monday, April 24th. TD Securities raised their target price on Gildan Activewear from $31.00 to $32.00 and gave the company a “buy” rating in a research report on Thursday, May 4th. Finally, TheStreet cut Gildan Activewear from a “b-” rating to a “c” rating in a research report on Wednesday, May 3rd.
Several large investors have recently added to or reduced their stakes in GIL. Comerica Bank raised its stake in Gildan Activewear by 8.1% in the fourth quarter. Comerica Bank now owns 13,523 shares of the textile maker’s stock valued at $335,000 after buying an additional 1,013 shares in the last quarter. State Street Corp raised its stake in shares of Gildan Activewear by 0.4% in the fourth quarter. State Street Corp now owns 9,409 shares of the textile maker’s stock valued at $239,000 after buying an additional 40 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Gildan Activewear by 24.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 53,406 shares of the textile maker’s stock valued at $1,355,000 after buying an additional 10,474 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of Gildan Activewear during the fourth quarter valued at about $932,000. Finally, Elkfork Partners LLC purchased a new stake in shares of Gildan Activewear during the fourth quarter valued at about $184,000. 72.11% of the stock is owned by institutional investors and hedge funds.
Gildan Activewear (NYSE GIL) opened at 31.32 on Friday. The firm has a 50 day moving average price of $29.04 and a 200 day moving average price of $26.85. The stock has a market capitalization of $7.05 billion, a P/E ratio of 19.89 and a beta of 0.82. Gildan Activewear has a 52 week low of $23.55 and a 52 week high of $32.20.
Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its earnings results on Wednesday, May 3rd. The textile maker reported $0.39 EPS for the quarter, beating the consensus estimate of $0.35 by $0.04. Gildan Activewear had a return on equity of 18.09% and a net margin of 13.81%. The firm had revenue of $665.40 million for the quarter, compared to analysts’ expectations of $664.37 million. Equities research analysts predict that Gildan Activewear will post $1.68 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 12th. Stockholders of record on Thursday, May 18th were paid a dividend of $0.0935 per share. This represents a $0.37 annualized dividend and a dividend yield of 1.19%. The ex-dividend date was Tuesday, May 16th. Gildan Activewear’s dividend payout ratio is presently 23.57%.
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About Gildan Activewear
Gildan Activewear Inc is a manufacturer and marketer of branded basic family apparel, including T-shirts, fleece, sport shirts, underwear, socks, hosiery and shapewear. The Company operates through two segments: Printwear and Branded Apparel. The Printwear segment designs, manufactures, sources, markets, and distributes undecorated activewear products.
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