Gildan Activewear Inc. (NYSE:GIL)‘s stock had its “outperform” rating reiterated by investment analysts at Scotiabank in a report issued on Thursday. They presently have a $44.00 price objective on the stock. Scotiabank’s target price would indicate a potential upside of 49.36% from the company’s current price.
Other institutional investors have modified their holdings of the company. NN Investment Partners Holdings N.V. acquired a new position in shares of Gildan Activewear during the first quarter worth approximately $263,000. New England Research & Management Inc. acquired a new position in shares of Gildan Activewear during the second quarter worth approximately $285,000. AXA increased its position in shares of Gildan Activewear by 726.7% in the first quarter. AXA now owns 12,400 shares of the company’s stock worth $380,000 after buying an additional 10,900 shares in the last quarter. Daiwa SB Investments Ltd. acquired a new position in shares of Gildan Activewear during the second quarter worth approximately $1,205,000. Finally, Poplar Forest Capital LLC increased its position in shares of Gildan Activewear by 3.9% in the fourth quarter. Poplar Forest Capital LLC now owns 58,900 shares of the company’s stock worth $1,674,000 after buying an additional 2,200 shares in the last quarter.
GIL has been the topic of several other reports. Zacks Investment Research lowered shares of Gildan Activewear from a “hold” rating to a “sell” rating in a research report on Tuesday, April 26th. RBC Capital Markets reiterated an “outperform” rating and issued a $45.00 price target on shares of Gildan Activewear in a research report on Wednesday, July 20th. Raymond James Financial Inc. reiterated a “strong-buy” rating and issued a $35.00 price target on shares of Gildan Activewear in a research report on Thursday, July 21st. Royal Bank Of Canada increased their price target on shares of Gildan Activewear from $32.00 to $34.00 and gave the company an “outperform” rating in a research report on Tuesday, April 26th. Finally, National Bank Financial reiterated an “outperform” rating and issued a $43.00 price target (up from $42.00) on shares of Gildan Activewear in a research report on Friday, May 6th. Three research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $36.71.
Gildan Activewear (NYSE:GIL) last issued its earnings results on Wednesday, July 27th. The company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.42 by $0.01. The business had revenue of $689 million for the quarter, compared to the consensus estimate of $697.92 million. During the same quarter in the prior year, the firm earned $0.42 EPS. The company’s revenue for the quarter was down 3.5% compared to the same quarter last year. On average, equities research analysts anticipate that Gildan Activewear will post $1.59 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 6th. Stockholders of record on Thursday, August 11th will be paid a $0.078 dividend. This represents a $0.31 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date is Tuesday, August 9th.
Gildan Activewear Inc is a manufacturer and marketer of branded basic family apparel. The Company’s segments include Printwear and Branded Apparel. It offers T-shirts, fleece, sport shirts, underwear, socks, hosiery and shapewear. It markets its products through approximately two main distribution channels.
