UBS Group upgraded shares of Gildan Activewear (NYSE:GIL - Free Report) TSE: GIL from a neutral rating to a buy rating in a research note released on Friday, MarketBeat reports. UBS Group currently has $60.00 price objective on the textile maker's stock, up from their prior price objective of $50.00.
Other equities analysts have also issued research reports about the stock. Citigroup increased their price target on shares of Gildan Activewear from $54.00 to $59.00 and gave the stock a "buy" rating in a report on Friday, November 1st. Canaccord Genuity Group raised their price objective on Gildan Activewear from $52.00 to $53.00 and gave the company a "buy" rating in a report on Friday, November 1st. TD Securities upped their target price on Gildan Activewear from $58.00 to $60.00 and gave the stock a "buy" rating in a research note on Monday, December 2nd. BMO Capital Markets boosted their price objective 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. Finally, CIBC increased their target price on shares of Gildan Activewear from $48.00 to $56.00 and gave the company an "outperform" rating in a report on Friday, November 1st. Ten investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Gildan Activewear presently has a consensus rating of "Buy" and a consensus price target of $53.35.
Check Out Our Latest Stock Report on Gildan Activewear
Gildan Activewear Stock Performance
Shares of Gildan Activewear stock traded up $1.26 on Friday, reaching $48.24. 1,027,160 shares of the company traded hands, compared to its average volume of 471,210. The company has a 50 day moving average of $48.30 and a 200 day moving average of $45.12. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.31 and a quick ratio of 0.98. Gildan Activewear has a 52 week low of $30.68 and a 52 week high of $50.60. The firm has a market capitalization of $7.38 billion, a PE ratio of 19.07, a PEG ratio of 1.82 and a beta of 1.41.
Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last released its quarterly earnings data on Thursday, October 31st. The textile maker reported $0.85 EPS for the quarter, meeting the consensus estimate of $0.85. The business had revenue of $891.10 million for the quarter, compared to the consensus estimate of $882.85 million. Gildan Activewear had a net margin of 13.06% and a return on equity of 26.88%. The company's revenue was up 2.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.74 earnings per share. Equities analysts forecast that Gildan Activewear will post 2.97 earnings per share for the current year.
Gildan Activewear Cuts Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Thursday, November 21st were given a dividend of $0.152 per share. This represents a $0.61 annualized dividend and a yield of 1.26%. The ex-dividend date of this dividend was Thursday, November 21st. Gildan Activewear's dividend payout ratio is currently 32.41%.
Institutional Trading of Gildan Activewear
A number of hedge funds and other institutional investors have recently modified their holdings of GIL. Riverview Trust Co bought a new stake in Gildan Activewear during the third quarter worth about $29,000. Blue Trust Inc. boosted its position in shares of Gildan Activewear by 96.1% in the 3rd quarter. Blue Trust Inc. now owns 810 shares of the textile maker's stock worth $38,000 after purchasing an additional 397 shares in the last quarter. CWM LLC grew its stake in shares of Gildan Activewear by 23.0% in the 3rd quarter. CWM LLC now owns 1,698 shares of the textile maker's stock worth $80,000 after buying an additional 318 shares during the last quarter. SYSTM Wealth Solutions LLC increased its position in Gildan Activewear by 33.1% during the 2nd quarter. SYSTM Wealth Solutions LLC now owns 2,709 shares of the textile maker's stock valued at $103,000 after buying an additional 674 shares in the last quarter. Finally, Laurus Investment Counsel Inc. purchased a new position in Gildan Activewear during the third quarter valued at $203,000. 82.83% of the stock is owned by hedge funds and other institutional investors.
Gildan Activewear Company Profile
(
Get Free Report)
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.
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