Gildan Activewear (NYSE:GIL) Price Target Raised to $60.00

Gildan Activewear (NYSE:GIL) (TSE:GIL) had its price objective raised by CIBC from $56.00 to $60.00 in a research note published on Thursday morning,BayStreet.CA reports. The firm currently has an outperform rating on the textile maker’s stock.

GIL has been the subject of a number of other research reports. Stifel Nicolaus increased their target price on shares of Gildan Activewear from $54.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. UBS Group increased their target price on shares of Gildan Activewear from $60.00 to $69.00 and gave the stock a “buy” rating in a research report on Thursday. Citigroup increased their price objective on shares of Gildan Activewear from $54.00 to $59.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Canaccord Genuity Group increased their price objective on shares of Gildan Activewear from $52.00 to $53.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, BMO Capital Markets increased their price objective on shares of Gildan Activewear from $58.00 to $64.00 and gave the company an “outperform” rating in a research report on Thursday. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $60.00.

Gildan Activewear Stock Down 1.7 %

GIL opened at $54.18 on Thursday. The firm has a 50 day moving average price of $49.57 and a 200 day moving average price of $47.63. The company has a market cap of $8.24 billion, a PE ratio of 21.67, a price-to-earnings-growth ratio of 1.76 and a beta of 1.41. Gildan Activewear has a 1 year low of $32.23 and a 1 year high of $55.39. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.98 and a current ratio of 2.22.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its earnings results on Wednesday, February 19th. The textile maker reported $0.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.30). The business had revenue of $822.00 million for the quarter, compared to analyst estimates of $805.75 million. Gildan Activewear had a return on equity of 28.80% and a net margin of 12.26%. The firm’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period last year, the company posted $0.75 EPS. Sell-side analysts expect that Gildan Activewear will post 3.48 earnings per share for the current year.

Gildan Activewear Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Wednesday, March 12th will be given a dividend of $0.226 per share. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.67%. This is an increase from Gildan Activewear’s previous quarterly dividend of $0.15. Gildan Activewear’s dividend payout ratio (DPR) is presently 36.00%.

Institutional Trading of Gildan Activewear

A number of hedge funds have recently made changes to their positions in the stock. Syon Capital LLC grew its position in shares of Gildan Activewear by 3.9% during the fourth quarter. Syon Capital LLC now owns 6,524 shares of the textile maker’s stock worth $307,000 after buying an additional 242 shares in the last quarter. CWM LLC grew its position in shares of 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 in the last quarter. Fifth Third Bancorp grew its position in shares of Gildan Activewear by 61.8% during the fourth quarter. Fifth Third Bancorp now owns 872 shares of the textile maker’s stock worth $41,000 after buying an additional 333 shares in the last quarter. Cooper Financial Group grew its position in shares of Gildan Activewear by 2.1% during the fourth quarter. Cooper Financial Group now owns 16,268 shares of the textile maker’s stock worth $765,000 after buying an additional 340 shares in the last quarter. Finally, Huntington National Bank grew its position in shares of Gildan Activewear by 16.4% during the fourth quarter. Huntington National Bank now owns 2,803 shares of the textile maker’s stock worth $132,000 after buying an additional 395 shares in the last quarter. 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.