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

Shares of Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) have been assigned a consensus rating of “Moderate Buy” from the thirteen analysts that are presently covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $51.05.

GIL has been the topic of a number of recent research reports. Royal Bank of Canada lifted their target price on Gildan Activewear from $41.00 to $44.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Canaccord Genuity Group upped their price objective on Gildan Activewear from $52.00 to $53.00 and gave the stock a “buy” rating in a research note on Friday. BMO Capital Markets increased their price objective on Gildan Activewear from $47.00 to $58.00 and gave the company an “outperform” rating in a report on Friday. Citigroup upped their price target on shares of Gildan Activewear from $54.00 to $59.00 and gave the stock a “buy” rating in a research report on Friday. Finally, CIBC lifted their price objective on shares of Gildan Activewear from $48.00 to $56.00 and gave the company an “outperform” rating in a research report on Friday.

Institutional Investors Weigh In On Gildan Activewear

Several hedge funds have recently bought and sold shares of the stock. Riverview Trust Co bought a new position in shares of Gildan Activewear during the third quarter worth approximately $29,000. Blue Trust Inc. grew its holdings in Gildan Activewear by 96.1% in the 3rd quarter. Blue Trust Inc. now owns 810 shares of the textile maker’s stock valued at $38,000 after buying an additional 397 shares in the last quarter. Natixis bought a new position in Gildan Activewear during the 1st quarter worth $51,000. Cullen Frost Bankers Inc. acquired a new stake in shares of Gildan Activewear during the second quarter worth $51,000. Finally, Tobam bought a new stake in shares of Gildan Activewear in the second quarter valued at about $53,000. 82.83% of the stock is currently owned by institutional investors and hedge funds.

Gildan Activewear Price Performance

NYSE GIL opened at $49.66 on Friday. The firm’s 50 day moving average is $46.45 and its 200-day moving average is $40.87. The company has a quick ratio of 0.97, a current ratio of 2.35 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $7.80 billion, a PE ratio of 20.35, a price-to-earnings-growth ratio of 1.83 and a beta of 1.43. Gildan Activewear has a 12-month low of $28.95 and a 12-month high of $49.92.

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

Gildan Activewear Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Thursday, November 21st will be issued a $0.152 dividend. The ex-dividend date is Thursday, November 21st. This represents a $0.61 annualized dividend and a yield of 1.22%. Gildan Activewear’s dividend payout ratio is currently 33.61%.

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.