Gildan Activewear Inc. (NYSE:GIL) Given Consensus Rating of “Moderate Buy” by Brokerages

Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) has earned an average recommendation of “Moderate Buy” from the eleven research firms that are covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $51.05.

Several research analysts recently issued reports on GIL shares. TD Securities increased their price target on shares of Gildan Activewear from $58.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. Stifel Nicolaus raised their price target on Gildan Activewear from $54.00 to $60.00 and gave the company a “buy” rating in a report on Friday, November 1st. CIBC lifted their price target on Gildan Activewear from $48.00 to $56.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Citigroup increased their price objective on Gildan Activewear from $54.00 to $59.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, Canaccord Genuity Group boosted their target price on shares of Gildan Activewear from $52.00 to $53.00 and gave the stock a “buy” rating in a research report on Friday, November 1st.

Gildan Activewear Trading Down 0.0 %

Shares of GIL stock opened at $48.82 on Friday. Gildan Activewear has a twelve month low of $30.68 and a twelve month high of $50.60. The company has a current ratio of 2.31, a quick ratio of 0.98 and a debt-to-equity ratio of 0.81. The business’s 50 day moving average is $48.55 and its two-hundred day moving average is $43.83. The company has a market capitalization of $7.46 billion, a P/E ratio of 19.30, a price-to-earnings-growth ratio of 1.82 and a beta of 1.40.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last announced its quarterly earnings data on Thursday, October 31st. The textile maker reported $0.85 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.85. Gildan Activewear had a net margin of 13.06% and a return on equity of 26.88%. The company had revenue of $891.10 million for the quarter, compared to analysts’ expectations of $882.85 million. During the same period in the previous year, the company posted $0.74 EPS. Gildan Activewear’s revenue was up 2.4% compared to the same quarter last year. Equities analysts forecast that Gildan Activewear will post 2.97 EPS for the current year.

Gildan Activewear Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Thursday, November 21st will be paid a $0.152 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $0.61 dividend on an annualized basis and a yield of 1.25%. Gildan Activewear’s payout ratio is 32.41%.

Hedge Funds Weigh In On Gildan Activewear

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GIL. Envestnet Portfolio Solutions Inc. raised its position in shares of Gildan Activewear by 9.9% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 27,857 shares of the textile maker’s stock worth $1,056,000 after purchasing an additional 2,512 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Gildan Activewear by 11.7% in the second quarter. Assenagon Asset Management S.A. now owns 7,156 shares of the textile maker’s stock worth $271,000 after acquiring an additional 747 shares during the last quarter. Verdence Capital Advisors LLC lifted its position in shares of Gildan Activewear by 20.3% in the second quarter. Verdence Capital Advisors LLC now owns 15,093 shares of the textile maker’s stock valued at $572,000 after acquiring an additional 2,550 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Gildan Activewear by 38.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 70,505 shares of the textile maker’s stock valued at $2,674,000 after acquiring an additional 19,549 shares in the last quarter. Finally, Tobam acquired a new stake in shares of Gildan Activewear during the second quarter valued at $53,000. 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.