Gildan Activewear Inc. (NYSE:GIL - Get Free Report) TSE: GIL's stock price reached a new 52-week high during trading on Wednesday . The company traded as high as $53.75 and last traded at $53.10, with a volume of 143310 shares trading hands. The stock had previously closed at $51.98.
Analyst Ratings Changes
A number of research firms recently commented on GIL. CIBC increased their target price on shares of Gildan Activewear from $56.00 to $60.00 and gave the company an "outperform" rating in a research report on Thursday. Citigroup increased their target price on shares of Gildan Activewear from $59.00 to $62.00 and gave the company a "buy" rating in a research report on Thursday. Stifel Nicolaus increased their target price on shares of Gildan Activewear from $60.00 to $65.00 and gave the company a "buy" rating in a research report on Thursday. Canaccord Genuity Group raised their price target on shares of Gildan Activewear from $53.00 to $58.00 and gave the stock a "buy" rating in a report on Thursday. Finally, BMO Capital Markets raised their price target on shares of Gildan Activewear from $58.00 to $64.00 and gave the stock an "outperform" rating in a report on Thursday. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Gildan Activewear currently has a consensus rating of "Buy" and an average target price of $60.00.
Read Our Latest Research Report on GIL
Gildan Activewear Price Performance
The stock has a market cap of $8.24 billion, a price-to-earnings ratio of 21.67, a price-to-earnings-growth ratio of 1.74 and a beta of 1.41. The stock's 50 day moving average price is $49.47 and its two-hundred day moving average price is $47.54. 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 released its quarterly earnings data on Wednesday, February 19th. The textile maker reported $0.83 earnings per share for the quarter, missing analysts' consensus estimates of $1.13 by ($0.30). The business had revenue of $822.00 million during the quarter, compared to analyst estimates of $805.75 million. Gildan Activewear had a return on equity of 27.49% and a net margin of 12.26%. The firm's revenue was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.75 EPS. Equities research analysts forecast that Gildan Activewear Inc. will post 3.44 EPS for the current fiscal year.
Gildan Activewear Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Wednesday, March 12th will be paid a $0.226 dividend. The ex-dividend date is Wednesday, March 12th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.67%. This is a positive change from Gildan Activewear's previous quarterly dividend of $0.15. Gildan Activewear's dividend payout ratio is presently 32.80%.
Institutional Trading of Gildan Activewear
Hedge funds and other institutional investors have recently made changes to their positions in the business. CWM LLC grew its position in Gildan Activewear by 23.0% during the third quarter. CWM LLC now owns 1,698 shares of the textile maker's stock valued at $80,000 after buying an additional 318 shares during the period. Creative Planning grew its position in Gildan Activewear by 12.8% during the third quarter. Creative Planning now owns 13,248 shares of the textile maker's stock valued at $624,000 after buying an additional 1,505 shares during the period. Blue Trust Inc. grew its position in Gildan Activewear by 96.1% during the third quarter. Blue Trust Inc. now owns 810 shares of the textile maker's stock valued at $38,000 after buying an additional 397 shares during the period. Raymond James & Associates grew its position in Gildan Activewear by 191.3% during the third quarter. Raymond James & Associates now owns 57,538 shares of the textile maker's stock valued at $2,711,000 after buying an additional 37,785 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its position in Gildan Activewear by 7,709.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 125,181 shares of the textile maker's stock valued at $5,899,000 after buying an additional 123,578 shares during the period. Institutional investors and hedge funds own 82.83% of the company's stock.
About Gildan Activewear
(
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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