Gildan Activewear (NYSE:GIL) Price Target Raised to $43.00

Gildan Activewear (NYSE:GIL) (TSE:GIL) had its price objective raised by Canaccord Genuity Group from $42.00 to $43.00 in a research note issued to investors on Thursday morning, BayStreet.CA reports. The brokerage currently has a buy rating on the textile maker’s stock.

GIL has been the subject of a number of other research reports. TD Securities upped their price objective on shares of Gildan Activewear from $42.00 to $46.00 and gave the stock a buy rating in a research report on Wednesday, March 20th. Scotiabank lifted their price objective on Gildan Activewear from $39.50 to $40.50 and gave the company a sector outperform rating in a report on Friday, February 9th. CIBC boosted their target price on Gildan Activewear from $38.00 to $41.00 and gave the stock an outperform rating in a research report on Thursday, February 22nd. UBS Group cut Gildan Activewear from a buy rating to a neutral rating and reduced their price target for the company from $40.00 to $37.00 in a report on Friday, January 5th. Finally, Citigroup upped their price objective on Gildan Activewear from $40.00 to $44.00 and gave the stock a buy rating in a report on Friday, February 23rd. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $41.95.

Gildan Activewear Stock Performance

Shares of GIL stock opened at $33.10 on Thursday. The stock’s 50-day moving average price is $35.51 and its 200 day moving average price is $34.05. The company has a quick ratio of 0.83, a current ratio of 2.38 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $5.58 billion, a PE ratio of 11.18, a price-to-earnings-growth ratio of 1.25 and a beta of 1.38. Gildan Activewear has a 52-week low of $26.98 and a 52-week high of $38.87.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last released its earnings results on Wednesday, May 1st. The textile maker reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.07. Gildan Activewear had a return on equity of 24.00% and a net margin of 16.14%. The business had revenue of $695.80 million for the quarter, compared to analyst estimates of $692.94 million. During the same quarter in the previous year, the company posted $0.45 earnings per share. The company’s revenue for the quarter was down 1.0% compared to the same quarter last year. As a group, equities research analysts forecast that Gildan Activewear will post 2.94 EPS for the current year.

Gildan Activewear Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Thursday, May 23rd will be given a $0.205 dividend. The ex-dividend date of this dividend is Wednesday, May 22nd. This represents a $0.82 annualized dividend and a dividend yield of 2.48%. Gildan Activewear’s dividend payout ratio is presently 27.36%.

Hedge Funds Weigh In On Gildan Activewear

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GIL. Pzena Investment Management LLC raised its position in shares of Gildan Activewear by 1.6% during the 3rd quarter. Pzena Investment Management LLC now owns 10,996,538 shares of the textile maker’s stock worth $308,013,000 after purchasing an additional 168,601 shares during the last quarter. Cooke & Bieler LP lifted its position in shares of Gildan Activewear by 1.7% in the fourth quarter. Cooke & Bieler LP now owns 10,075,062 shares of the textile maker’s stock valued at $333,082,000 after acquiring an additional 169,476 shares in the last quarter. Browning West LP boosted its stake in shares of Gildan Activewear by 30.0% during the fourth quarter. Browning West LP now owns 8,640,448 shares of the textile maker’s stock valued at $285,653,000 after acquiring an additional 1,994,900 shares during the last quarter. Vanguard Group Inc. raised its stake in Gildan Activewear by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 6,401,045 shares of the textile maker’s stock valued at $179,293,000 after purchasing an additional 97,924 shares during the last quarter. Finally, Guardian Capital LP lifted its holdings in Gildan Activewear by 3.2% in the 3rd quarter. Guardian Capital LP now owns 2,739,070 shares of the textile maker’s stock valued at $77,128,000 after purchasing an additional 84,744 shares in the last quarter. Institutional investors and hedge funds own 82.83% of the company’s stock.

Gildan Activewear Company Profile

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.