Analysts Set Gildan Activewear Inc. (NYSE:GIL) Target Price at $60.00

Gildan Activewear Inc. (NYSE:GIL - Get Free Report) TSE: GIL has been given an average rating of "Buy" by the nine research firms that are currently covering the company, MarketBeat reports. Nine research analysts have rated the stock with a buy rating. The average 1-year price target among brokerages that have covered the stock in the last year is $60.00.

A number of research firms have recently issued reports on GIL. Stifel Nicolaus increased their price target on Gildan Activewear from $60.00 to $65.00 and gave the stock a "buy" rating in a research report on Thursday, February 20th. Citigroup boosted their price target on shares of Gildan Activewear from $59.00 to $62.00 and gave the company a "buy" rating in a report on Thursday, February 20th. CIBC increased their price objective on shares of Gildan Activewear from $56.00 to $60.00 and gave the company an "outperform" rating in a research note on Thursday, February 20th. Canaccord Genuity Group boosted their price objective on shares of Gildan Activewear from $53.00 to $58.00 and gave the stock a "buy" rating in a research note on Thursday, February 20th. Finally, TD Securities increased their target price on Gildan Activewear from $62.00 to $65.00 and gave the company a "buy" rating in a research report on Thursday, February 20th.

Gildan Activewear Trading Up 0.3 %

GIL stock traded up $0.13 during midday trading on Tuesday, reaching $44.94. The company's stock had a trading volume of 496,840 shares, compared to its average volume of 638,906. Gildan Activewear has a 1 year low of $32.23 and a 1 year high of $55.39. The firm has a market capitalization of $6.83 billion, a price-to-earnings ratio of 17.98, a PEG ratio of 1.76 and a beta of 1.39. The stock has a fifty day simple moving average of $50.21 and a two-hundred day simple moving average of $48.63. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.98 and a current ratio of 2.22.

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Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last posted its quarterly earnings results on Wednesday, February 19th. The textile maker reported $0.83 EPS for the quarter, missing analysts' consensus estimates of $1.13 by ($0.30). The company had revenue of $822.00 million during the quarter, compared to the consensus estimate of $805.75 million. Gildan Activewear had a return on equity of 28.80% and a net margin of 12.26%. The company's revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.75 earnings per share. On average, equities research analysts predict that Gildan Activewear will post 3.48 EPS for the current year.

Gildan Activewear Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 7th. Investors of record on Wednesday, March 12th will be paid a dividend of $0.226 per share. This represents a $0.90 annualized dividend and a yield of 2.01%. This is an increase from Gildan Activewear's previous quarterly dividend of $0.15. The ex-dividend date is Wednesday, March 12th. Gildan Activewear's payout ratio is 36.00%.

Institutional Investors Weigh In On Gildan Activewear

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Janus Henderson Group PLC raised its position in shares of 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 lifted its stake in shares of Gildan Activewear by 10.5% during the third quarter. Simcoe Capital Management LLC now owns 2,387,865 shares of the textile maker's stock worth $112,492,000 after buying an additional 226,695 shares during the period. Norges Bank purchased a new stake in shares of Gildan Activewear during the fourth quarter valued at $97,275,000. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Gildan Activewear by 604.1% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,850,971 shares of the textile maker's stock worth $86,999,000 after buying an additional 1,588,071 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in Gildan Activewear by 276.9% during the fourth quarter. The Manufacturers Life Insurance Company now owns 1,769,634 shares of the textile maker's stock worth $83,394,000 after acquiring an additional 1,300,121 shares during the period. 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.