Gildan Activewear Inc. (NYSE:GIL - Get Free Report) TSE: GIL has earned a consensus recommendation of "Buy" from the nine ratings firms that are covering the firm, MarketBeat.com reports. Nine equities research analysts have rated the stock with a buy rating. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $60.00.
A number of brokerages have weighed in on GIL. BMO Capital Markets lifted their price target on shares of Gildan Activewear from $58.00 to $64.00 and gave the company an "outperform" rating in a research note on Thursday, February 20th. TD Securities lifted their price target on Gildan Activewear from $62.00 to $65.00 and gave the company a "buy" rating in a research note on Thursday, February 20th. Citigroup upped their price objective on Gildan Activewear from $59.00 to $62.00 and gave the stock a "buy" rating in a research report on Thursday, February 20th. Canaccord Genuity Group lifted their target price on Gildan Activewear from $53.00 to $58.00 and gave the company a "buy" rating in a research report on Thursday, February 20th. Finally, UBS Group upped their price target on Gildan Activewear from $60.00 to $69.00 and gave the stock a "buy" rating in a research report on Thursday, February 20th.
Check Out Our Latest Research Report on GIL
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of GIL. Janus Henderson Group PLC lifted its stake in Gildan Activewear by 1.9% in the 4th quarter. Janus Henderson Group PLC now owns 6,970,246 shares of the textile maker's stock valued at $327,950,000 after purchasing an additional 128,674 shares during the last quarter. Simcoe Capital Management LLC raised its stake in Gildan Activewear by 10.5% in 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 buying an additional 226,695 shares during the period. Norges Bank acquired a new stake in shares of Gildan Activewear in the fourth quarter valued at approximately $97,275,000. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Gildan Activewear by 604.1% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,850,971 shares of the textile maker's stock worth $86,999,000 after acquiring an additional 1,588,071 shares during the period. Finally, The Manufacturers Life Insurance Company raised its stake in Gildan Activewear by 276.9% in the 4th quarter. The Manufacturers Life Insurance Company now owns 1,769,634 shares of the textile maker's stock valued at $83,394,000 after acquiring an additional 1,300,121 shares during the period. Institutional investors own 82.83% of the company's stock.
Gildan Activewear Trading Down 2.8 %
Shares of GIL stock traded down $1.52 on Friday, hitting $52.51. The stock had a trading volume of 272,605 shares, compared to its average volume of 517,900. The company has a current ratio of 2.22, a quick ratio of 0.98 and a debt-to-equity ratio of 0.92. Gildan Activewear has a twelve month low of $32.23 and a twelve month high of $55.39. The company has a fifty day moving average price of $50.24 and a two-hundred day moving average price of $48.18. The firm has a market cap of $7.98 billion, a P/E ratio of 21.02, a PEG ratio of 1.76 and a beta of 1.41.
Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last posted its earnings results on Wednesday, February 19th. The textile maker reported $0.83 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.13 by ($0.30). Gildan Activewear had a net margin of 12.26% and a return on equity of 28.80%. The business had revenue of $822.00 million during the quarter, compared to analyst estimates of $805.75 million. During the same period in the previous year, the firm posted $0.75 earnings per share. The firm's revenue was up 5.0% on a year-over-year basis. As a group, analysts forecast that Gildan Activewear will post 3.48 earnings per share for the current fiscal year.
Gildan Activewear Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Wednesday, March 12th will be given a dividend of $0.226 per share. This is a positive change from Gildan Activewear's previous quarterly dividend of $0.15. This represents a $0.90 annualized dividend and a yield of 1.72%. The ex-dividend date is Wednesday, March 12th. Gildan Activewear's dividend payout ratio is 36.00%.
About Gildan Activewear
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Get Free ReportGildan 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.
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