Gildan Activewear Inc. (NYSE:GIL) Receives $44.50 Consensus Price Target from Analysts

Shares of Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) have received an average recommendation of “Moderate Buy” from the thirteen research firms that are presently covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $44.77.

A number of equities analysts have commented on the stock. BMO Capital Markets lifted their price objective on shares of Gildan Activewear from $43.00 to $47.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Royal Bank of Canada lifted their price objective on shares of Gildan Activewear from $41.00 to $44.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Finally, Stifel Nicolaus lifted their price objective on shares of Gildan Activewear from $51.00 to $54.00 and gave the stock a “buy” rating in a research report on Thursday.

Gildan Activewear Price Performance

NYSE:GIL opened at $46.97 on Tuesday. Gildan Activewear has a 1-year low of $27.24 and a 1-year high of $47.75. The company has a current ratio of 2.35, a quick ratio of 0.97 and a debt-to-equity ratio of 0.55. The firm has a fifty day simple moving average of $43.94 and a 200 day simple moving average of $39.36. The stock has a market capitalization of $7.78 billion, a PE ratio of 15.87, a P/E/G ratio of 1.77 and a beta of 1.43.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last released its earnings results on Thursday, August 1st. The textile maker reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.03. Gildan Activewear had a net margin of 13.01% and a return on equity of 24.96%. The business had revenue of $862.20 million during the quarter, compared to analysts’ expectations of $851.10 million. During the same period last year, the business earned $0.63 earnings per share. The firm’s revenue was up 2.6% on a year-over-year basis. On average, research analysts expect that Gildan Activewear will post 2.92 EPS for the current fiscal year.

Gildan Activewear Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Thursday, August 22nd were given a $0.205 dividend. The ex-dividend date was Thursday, August 22nd. This represents a $0.82 dividend on an annualized basis and a dividend yield of 1.75%. Gildan Activewear’s payout ratio is presently 27.70%.

Institutional Investors Weigh In On Gildan Activewear

Institutional investors have recently modified their holdings of the business. Natixis bought a new stake in shares of Gildan Activewear in the first quarter valued at about $51,000. Cullen Frost Bankers Inc. acquired a new position in Gildan Activewear in the second quarter valued at about $51,000. Tobam acquired a new position in Gildan Activewear in the second quarter valued at about $53,000. EverSource Wealth Advisors LLC raised its stake in Gildan Activewear by 16.9% in the first quarter. EverSource Wealth Advisors LLC now owns 1,893 shares of the textile maker’s stock valued at $66,000 after purchasing an additional 274 shares in the last quarter. Finally, UniSuper Management Pty Ltd raised its stake in Gildan Activewear by 69.2% in the first quarter. UniSuper Management Pty Ltd now owns 2,200 shares of the textile maker’s stock valued at $82,000 after purchasing an additional 900 shares in the last quarter. Institutional investors own 82.83% of the company’s stock.

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.