Analysts Set Gildan Activewear Inc. (NYSE:GIL) Price Target at $41.95

Shares of Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) have received an average recommendation of “Moderate Buy” from the thirteen ratings firms that are presently covering the stock, Marketbeat.com reports. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $41.95.

GIL has been the topic of several analyst reports. Canaccord Genuity Group lifted their target price on shares of Gildan Activewear from $42.00 to $43.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Stifel Nicolaus decreased their price objective on shares of Gildan Activewear from $39.00 to $36.00 and set a “hold” rating on the stock in a research report on Monday. Canaccord Genuity Group increased their target price on shares of Gildan Activewear from $42.00 to $43.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $41.00 target price on shares of Gildan Activewear in a research note on Monday, April 8th.

Gildan Activewear Stock Down 0.0 %

GIL opened at $39.38 on Thursday. Gildan Activewear has a 12 month low of $26.99 and a 12 month high of $40.12. The company has a current ratio of 2.38, a quick ratio of 0.92 and a debt-to-equity ratio of 0.48. The business’s 50-day moving average price is $37.77 and its 200-day moving average price is $35.61. The company has a market cap of $6.52 billion, a P/E ratio of 13.30, a P/E/G ratio of 1.50 and a beta of 1.43.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its quarterly earnings results on Wednesday, May 1st. The textile maker reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.07. Gildan Activewear had a return on equity of 24.00% and a net margin of 16.14%. The business had revenue of $695.80 million for the quarter, compared to analyst estimates of $692.94 million. During the same period last year, the company earned $0.45 EPS. Gildan Activewear’s revenue for the quarter was down 1.0% compared to the same quarter last year. On average, equities analysts expect that Gildan Activewear will post 2.92 EPS for the current year.

Gildan Activewear Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Thursday, May 23rd were given a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 2.08%. The ex-dividend date of this dividend was Wednesday, May 22nd. Gildan Activewear’s dividend payout ratio is currently 27.70%.

Institutional Trading of Gildan Activewear

Hedge funds and other institutional investors have recently modified their holdings of the business. CWM LLC grew its stake in shares of Gildan Activewear by 86.5% in the 4th quarter. CWM LLC now owns 1,074 shares of the textile maker’s stock worth $35,000 after buying an additional 498 shares during the last quarter. Natixis bought a new stake in Gildan Activewear in the first quarter worth $51,000. EverSource Wealth Advisors LLC boosted its holdings 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 worth $66,000 after acquiring an additional 274 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in shares of Gildan Activewear by 529.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,215 shares of the textile maker’s stock worth $73,000 after acquiring an additional 1,863 shares during the last quarter. Finally, UniSuper Management Pty Ltd raised its position in shares of Gildan Activewear by 69.2% in the 1st quarter. UniSuper Management Pty Ltd now owns 2,200 shares of the textile maker’s stock worth $82,000 after purchasing an additional 900 shares during the last quarter. 82.83% of the stock is owned by hedge funds and other institutional investors.

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.