Brokerages Set Gildan Activewear Inc. (NYSE:GIL) Price Target at $50.85

Gildan Activewear Inc. (NYSE:GIL - Get Free Report) TSE: GIL has earned a consensus recommendation of "Moderate Buy" from the twelve research firms that are currently covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $50.85.

Several equities research analysts have commented on GIL shares. TD Securities boosted their target price on Gildan Activewear from $56.00 to $58.00 and gave the stock a "buy" rating in a report on Friday, November 1st. Citigroup increased their price objective on shares of Gildan Activewear from $54.00 to $59.00 and gave the company a "buy" rating in a research report on Friday, November 1st. BMO Capital Markets lifted their target price on shares of Gildan Activewear from $47.00 to $58.00 and gave the stock an "outperform" rating in a report on Friday, November 1st. Royal Bank of Canada increased their price target on shares of Gildan Activewear from $41.00 to $44.00 and gave the company an "outperform" rating in a report on Friday, August 2nd. Finally, 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.

Gildan Activewear Stock Up 0.2 %

Shares of NYSE:GIL traded up $0.10 during midday trading on Wednesday, reaching $49.01. The company's stock had a trading volume of 4,460,329 shares, compared to its average volume of 726,908. Gildan Activewear has a 12-month low of $30.68 and a 12-month high of $50.58. The firm has a market capitalization of $7.55 billion, a P/E ratio of 19.33, a PEG ratio of 1.81 and a beta of 1.44. The firm has a 50 day moving average of $47.49 and a 200-day moving average of $42.13. The company has a quick ratio of 0.98, a current ratio of 2.31 and a debt-to-equity ratio of 0.81.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last announced its earnings results on Thursday, October 31st. The textile maker reported $0.85 earnings per share for the quarter, meeting analysts' consensus estimates of $0.85. Gildan Activewear had a net margin of 13.06% and a return on equity of 26.88%. The business had revenue of $891.10 million during the quarter, compared to the consensus estimate of $882.85 million. During the same quarter last year, the firm earned $0.74 earnings per share. The business's revenue for the quarter was up 2.4% on a year-over-year basis. On average, research analysts anticipate that Gildan Activewear will post 2.97 earnings per share for the current year.

Gildan Activewear Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Thursday, November 21st will be given a $0.152 dividend. The ex-dividend date is Thursday, November 21st. This represents a $0.61 annualized dividend and a yield of 1.24%. Gildan Activewear's payout ratio is presently 32.41%.

Hedge Funds Weigh In On Gildan Activewear

Several institutional investors and hedge funds have recently bought and sold shares of GIL. Geode Capital Management LLC boosted its position in shares of Gildan Activewear by 7.0% in the third quarter. Geode Capital Management LLC now owns 637,407 shares of the textile maker's stock worth $29,708,000 after purchasing an additional 41,735 shares during the period. M&T Bank Corp lifted its stake in shares of Gildan Activewear by 24.3% during the 3rd quarter. M&T Bank Corp now owns 8,089 shares of the textile maker's stock valued at $381,000 after buying an additional 1,582 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in Gildan Activewear in the 3rd quarter worth $591,000. Wellington Management Group LLP increased its stake in Gildan Activewear by 42.4% in the 3rd quarter. Wellington Management Group LLP now owns 29,724 shares of the textile maker's stock worth $1,401,000 after buying an additional 8,855 shares in the last quarter. Finally, Stifel Financial Corp raised its holdings in Gildan Activewear by 7.2% during the third quarter. Stifel Financial Corp now owns 92,054 shares of the textile maker's stock valued at $4,337,000 after acquiring an additional 6,205 shares during the period. 82.83% of the stock is currently owned by hedge funds and other institutional investors.

About Gildan Activewear

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.