Stifel Nicolaus Raises Gildan Activewear (NYSE:GIL) Price Target to $54.00

Gildan Activewear (NYSE:GIL) (TSE:GIL) had its target price raised by Stifel Nicolaus from $51.00 to $54.00 in a research report sent to investors on Thursday morning, MarketBeat.com reports. They currently have a buy rating on the textile maker’s stock.

A number of other analysts have also issued reports on GIL. BMO Capital Markets boosted their target price on shares of Gildan Activewear from $43.00 to $47.00 and gave the company an outperform rating in a research note on Friday, August 2nd. Royal Bank of Canada boosted their price objective on shares of Gildan Activewear from $41.00 to $44.00 and gave the company an outperform rating in a research report on Friday, August 2nd. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $44.77.

Gildan Activewear Stock Performance

Gildan Activewear stock opened at $46.97 on Thursday. 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 firm has a market capitalization of $7.78 billion, a P/E ratio of 15.87, a price-to-earnings-growth ratio of 1.77 and a beta of 1.43. Gildan Activewear has a 1-year low of $27.24 and a 1-year high of $47.75. The company’s 50-day moving average is $43.94 and its 200 day moving average is $39.36.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued its quarterly earnings results on Thursday, August 1st. The textile maker reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.03. Gildan Activewear had a return on equity of 24.96% and a net margin of 13.01%. The firm had revenue of $862.20 million for the quarter, compared to the consensus estimate of $851.10 million. During the same period in the prior year, the business posted $0.63 earnings per share. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. Research analysts forecast that Gildan Activewear will post 2.92 EPS for the current year.

Gildan Activewear Announces Dividend

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

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of GIL. EverSource Wealth Advisors LLC grew 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 purchasing an additional 274 shares during the last quarter. Aristides Capital LLC boosted its position in shares of Gildan Activewear by 4.3% in the 2nd quarter. Aristides Capital LLC now owns 7,617 shares of the textile maker’s stock worth $289,000 after purchasing an additional 314 shares in the last quarter. Orion Portfolio Solutions LLC grew its stake in Gildan Activewear by 1.5% during the 1st quarter. Orion Portfolio Solutions LLC now owns 35,893 shares of the textile maker’s stock worth $1,333,000 after buying an additional 535 shares during the last quarter. SYSTM Wealth Solutions LLC increased its position in Gildan Activewear by 33.1% during the 2nd quarter. SYSTM Wealth Solutions LLC now owns 2,709 shares of the textile maker’s stock valued at $103,000 after buying an additional 674 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in 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 valued at $271,000 after buying an additional 747 shares during the last quarter. Institutional investors 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.