Gildan Activewear Inc. (NYSE:GIL) Receives $51.05 Average Price Target from Analysts

Shares of Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) have been given a consensus rating of “Moderate Buy” by the ten research firms that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $51.05.

Several research firms have recently weighed in on GIL. Citigroup upped 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. Canaccord Genuity Group upped their price target on Gildan Activewear from $52.00 to $53.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. BMO Capital Markets lifted their price objective on shares of Gildan Activewear from $47.00 to $58.00 and gave the company an “outperform” rating in a report on Friday, November 1st. CIBC increased their target price on shares of Gildan Activewear from $48.00 to $56.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Finally, TD Securities raised their target price on shares of Gildan Activewear from $58.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, December 2nd.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of GIL. Riverview Trust Co acquired a new stake in Gildan Activewear in the 3rd quarter valued at about $29,000. Blue Trust Inc. raised its stake in Gildan Activewear by 96.1% in the third quarter. Blue Trust Inc. now owns 810 shares of the textile maker’s stock valued at $38,000 after buying an additional 397 shares during the period. Cullen Frost Bankers Inc. acquired a new stake in shares of Gildan Activewear in the second quarter valued at approximately $51,000. Tobam bought a new position in shares of Gildan Activewear during the 2nd quarter worth approximately $53,000. Finally, CWM LLC increased its holdings in shares of Gildan Activewear by 23.0% during the 3rd quarter. CWM LLC now owns 1,698 shares of the textile maker’s stock worth $80,000 after acquiring an additional 318 shares during the last quarter. 82.83% of the stock is currently owned by institutional investors and hedge funds.

Gildan Activewear Stock Performance

Shares of GIL opened at $46.78 on Friday. The firm has a market cap of $7.15 billion, a P/E ratio of 18.49, a PEG ratio of 1.82 and a beta of 1.40. Gildan Activewear has a twelve month low of $30.68 and a twelve month high of $50.60. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.98 and a current ratio of 2.31. The firm’s 50 day moving average price is $48.59 and its two-hundred day moving average price is $44.23.

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, meeting the consensus estimate of $0.85. The business had revenue of $891.10 million for the quarter, compared to analysts’ expectations of $882.85 million. Gildan Activewear had a net margin of 13.06% and a return on equity of 26.88%. The firm’s revenue was up 2.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.74 EPS. On average, analysts forecast that Gildan Activewear will post 2.97 EPS for the current fiscal year.

Gildan Activewear Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Thursday, November 21st were paid a $0.152 dividend. This represents a $0.61 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date was Thursday, November 21st. Gildan Activewear’s dividend payout ratio is currently 32.41%.

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.