Gildan Activewear Inc. (NYSE:GIL) Receives $52.61 Average Target Price from Brokerages

Gildan Activewear Inc. (NYSE:GIL - Get Free Report) TSE: GIL has earned a consensus recommendation of "Buy" from the nine research firms that are presently covering the firm, Marketbeat Ratings reports. Nine equities research analysts have rated the stock with a buy recommendation. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $52.61.

A number of equities analysts recently weighed in on the stock. Canaccord Genuity Group boosted 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. BMO Capital Markets lifted their price objective on Gildan Activewear from $47.00 to $58.00 and gave the stock an "outperform" rating in a report on Friday, November 1st. Stifel Nicolaus raised their price target on shares of Gildan Activewear from $54.00 to $60.00 and gave the company a "buy" rating in a report on Friday, November 1st. Citigroup lifted their price target on shares of Gildan Activewear from $54.00 to $59.00 and gave the stock a "buy" rating in a research note on Friday, November 1st. Finally, CIBC increased their price objective on shares of Gildan Activewear from $48.00 to $56.00 and gave the company an "outperform" rating in a research report on Friday, November 1st.

Gildan Activewear Stock Up 0.9 %

Gildan Activewear stock traded up $0.41 during mid-day trading on Thursday, hitting $46.91. The company had a trading volume of 617,040 shares, compared to its average volume of 360,028. Gildan Activewear has a 12 month low of $30.68 and a 12 month high of $50.60. The company has a current ratio of 2.31, a quick ratio of 0.98 and a debt-to-equity ratio of 0.81. The stock's 50 day moving average price is $48.33 and its two-hundred day moving average price is $45.05. The company has a market capitalization of $7.17 billion, a PE ratio of 18.54, a price-to-earnings-growth ratio of 1.82 and a beta of 1.41.

Gildan Activewear (NYSE:GIL - Get Free Report) 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, hitting analysts' consensus estimates of $0.85. The company had revenue of $891.10 million for the quarter, compared to analysts' expectations of $882.85 million. Gildan Activewear had a net margin of 13.06% and a return on equity of 26.88%. Gildan Activewear's revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.74 EPS. As a group, sell-side analysts anticipate that Gildan Activewear will post 2.97 earnings per share for the current fiscal year.

Gildan Activewear Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Thursday, November 21st were paid a dividend of $0.152 per share. This represents a $0.61 annualized dividend and a dividend yield of 1.30%. The ex-dividend date was Thursday, November 21st. Gildan Activewear's dividend payout ratio is presently 32.41%.

Institutional Investors Weigh In On Gildan Activewear

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Cullen Frost Bankers Inc. bought a new stake in Gildan Activewear during the second quarter valued at about $51,000. Headlands Technologies LLC bought a new position in shares of Gildan Activewear during the 2nd quarter valued at approximately $284,000. American Century Companies Inc. increased its holdings in Gildan Activewear by 43.9% in the 2nd quarter. American Century Companies Inc. now owns 122,159 shares of the textile maker's stock worth $4,633,000 after acquiring an additional 37,288 shares in the last quarter. Forsta AP Fonden bought a new stake in Gildan Activewear during the 2nd quarter worth approximately $1,494,000. Finally, Zions Bancorporation N.A. lifted its holdings in Gildan Activewear by 11.0% during the second quarter. Zions Bancorporation N.A. now owns 11,090 shares of the textile maker's stock valued at $421,000 after purchasing an additional 1,099 shares in the last quarter. 82.83% of the stock is currently owned by hedge funds and other institutional investors.

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.