Gildan Activewear (NYSE:GIL) Price Target Raised to $58.00

Gildan Activewear (NYSE:GIL) (TSE:GIL) had its target price upped by TD Securities from $56.00 to $58.00 in a report released on Friday, BayStreet.CA reports. The brokerage currently has a buy rating on the textile maker’s stock.

GIL has been the subject of several other reports. Royal Bank of Canada upped their target price on Gildan Activewear from $41.00 to $44.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Canaccord Genuity Group upped their target price on Gildan Activewear from $52.00 to $53.00 and gave the company a “buy” rating in a report on Friday. BMO Capital Markets upped their target price on Gildan Activewear from $47.00 to $58.00 and gave the company an “outperform” rating in a report on Friday. CIBC upped their target price on Gildan Activewear from $48.00 to $56.00 and gave the company an “outperform” rating in a report on Friday. Finally, Stifel Nicolaus upped their target price on Gildan Activewear from $51.00 to $54.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, Gildan Activewear currently has a consensus rating of “Moderate Buy” and an average target price of $51.05.

Gildan Activewear Price Performance

NYSE GIL traded up $0.76 during mid-day trading on Friday, hitting $49.66. The stock had a trading volume of 531,424 shares, compared to its average volume of 709,643. The firm’s 50 day moving average is $46.45 and its 200 day moving average is $40.87. Gildan Activewear has a twelve month low of $28.95 and a twelve month high of $49.92. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.35 and a quick ratio of 0.97. The stock has a market capitalization of $7.80 billion, a price-to-earnings ratio of 20.35, a PEG ratio of 1.83 and a beta of 1.43.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its quarterly earnings data on Thursday, October 31st. The textile maker reported $0.85 EPS for the quarter, beating the consensus estimate of $0.84 by $0.01. Gildan Activewear had a return on equity of 24.96% and a net margin of 13.01%. The firm had revenue of $891.10 million during the quarter, compared to the consensus estimate of $882.85 million. During the same period in the prior year, the company earned $0.74 EPS. The firm’s revenue was up 2.4% compared to the same quarter last year. Equities research analysts forecast that Gildan Activewear will post 2.93 earnings per share for the current fiscal year.

Gildan Activewear Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Thursday, November 21st will be given a dividend of $0.152 per share. This represents a $0.61 annualized dividend and a dividend yield of 1.22%. The ex-dividend date of this dividend is Thursday, November 21st. Gildan Activewear’s dividend payout ratio (DPR) is presently 33.61%.

Institutional Investors Weigh In On Gildan Activewear

Several hedge funds and other institutional investors have recently made changes to their positions in GIL. Fortis Group Advisors LLC increased its position in Gildan Activewear by 3.9% during the third quarter. Fortis Group Advisors LLC now owns 6,601 shares of the textile maker’s stock worth $311,000 after buying an additional 246 shares during the period. EverSource Wealth Advisors LLC increased its position in Gildan Activewear by 16.9% during the first quarter. EverSource Wealth Advisors LLC now owns 1,893 shares of the textile maker’s stock worth $66,000 after buying an additional 274 shares during the period. Aristides Capital LLC increased its position in Gildan Activewear by 4.3% during the second quarter. Aristides Capital LLC now owns 7,617 shares of the textile maker’s stock worth $289,000 after buying an additional 314 shares during the period. CWM LLC increased 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 worth $80,000 after buying an additional 318 shares during the period. Finally, Blue Trust Inc. increased 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 worth $38,000 after buying an additional 397 shares during the period. Institutional investors and hedge funds own 82.83% of the company’s stock.

Gildan Activewear Company Profile

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.