Gildan Activewear (NYSE:GIL) Given New $47.00 Price Target at BMO Capital Markets

Gildan Activewear (NYSE:GIL) (TSE:GIL) had its price objective raised by BMO Capital Markets from $43.00 to $47.00 in a research report report published on Friday morning, BayStreet.CA reports. The firm currently has an outperform rating on the textile maker’s stock.

Other equities research analysts also recently issued research reports about the company. Royal Bank of Canada reaffirmed an outperform rating and set a $41.00 price objective on shares of Gildan Activewear in a research report on Monday, April 8th. Stifel Nicolaus upgraded shares of Gildan Activewear from a hold rating to a buy rating and raised their target price for the company from $39.00 to $51.00 in a research note on Friday. Canaccord Genuity Group raised their price objective on Gildan Activewear from $42.00 to $43.00 and gave the stock a buy rating in a research report on Thursday, May 2nd. Finally, Canaccord Genuity Group upped their target price on Gildan Activewear from $42.00 to $43.00 and gave the company a buy rating in a research report on Thursday, May 2nd. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $44.50.

Gildan Activewear Stock Up 0.1 %

NYSE:GIL traded up $0.05 during mid-day trading on Friday, reaching $41.34. The company’s stock had a trading volume of 974,579 shares, compared to its average volume of 478,707. The company has a quick ratio of 0.92, a current ratio of 2.38 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $6.85 billion, a PE ratio of 13.97, a price-to-earnings-growth ratio of 1.56 and a beta of 1.43. The stock has a fifty day moving average of $38.55 and a 200-day moving average of $36.09. Gildan Activewear has a 1 year low of $26.99 and a 1 year high of $42.00.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued its quarterly earnings data on Thursday, August 1st. The textile maker reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.03. The company had revenue of $862.20 million for the quarter, compared to analyst estimates of $851.10 million. Gildan Activewear had a net margin of 13.01% and a return on equity of 24.62%. Gildan Activewear’s revenue was up 2.6% compared to the same quarter last year. During the same period last year, the company posted $0.63 earnings per share. Equities research analysts forecast that Gildan Activewear will post 2.95 earnings per share for the current year.

Gildan Activewear Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Thursday, August 22nd will be issued a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a dividend yield of 1.98%. The ex-dividend date of this dividend is Thursday, August 22nd. Gildan Activewear’s dividend payout ratio (DPR) is 27.70%.

Hedge Funds Weigh In On Gildan Activewear

Large investors have recently bought and sold shares of the business. Norges Bank acquired a new stake in Gildan Activewear in the 4th quarter worth about $70,917,000. Browning West LP boosted its stake in Gildan Activewear by 30.0% during the 4th quarter. Browning West LP now owns 8,640,448 shares of the textile maker’s stock worth $285,653,000 after purchasing an additional 1,994,900 shares during the last quarter. Vaughan Nelson Investment Management L.P. purchased a new position in shares of Gildan Activewear in the fourth quarter worth about $34,456,000. Intact Investment Management Inc. boosted its position in Gildan Activewear by 204.8% during the second quarter. Intact Investment Management Inc. now owns 881,100 shares of the textile maker’s stock worth $33,416,000 after acquiring an additional 591,980 shares during the last quarter. Finally, National Bank of Canada FI lifted its stake in Gildan Activewear by 43.8% in the 1st quarter. National Bank of Canada FI now owns 1,762,761 shares of the textile maker’s stock worth $65,451,000 after purchasing an additional 537,215 shares in the last quarter. Institutional investors and hedge funds own 82.83% of the company’s stock.

About Gildan Activewear

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.