Stifel Nicolaus Cuts Gildan Activewear (NYSE:GIL) Price Target to $36.00

Gildan Activewear (NYSE:GIL) (TSE:GIL) had its price target lowered by Stifel Nicolaus from $39.00 to $36.00 in a research note issued to investors on Monday, BayStreet.CA reports. The brokerage currently has a hold rating on the textile maker’s stock.

A number of other research firms have also recently issued reports on GIL. Canaccord Genuity Group raised their price target on shares of Gildan Activewear from $42.00 to $43.00 and gave the stock a buy rating in a report on Thursday, May 2nd. Royal Bank of Canada reaffirmed an outperform rating and issued a $41.00 price target on shares of Gildan Activewear in a report on Monday, April 8th. Finally, Canaccord Genuity Group raised their price target on shares of Gildan Activewear from $42.00 to $43.00 and gave the stock a buy rating in a report on Thursday, May 2nd. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Gildan Activewear presently has a consensus rating of Moderate Buy and an average target price of $41.95.

Gildan Activewear Trading Up 0.3 %

NYSE:GIL opened at $39.02 on Monday. Gildan Activewear has a 52 week low of $26.99 and a 52 week high of $40.12. The firm has a 50 day moving average of $38.00 and a 200 day moving average of $35.71. 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 stock has a market capitalization of $6.46 billion, a price-to-earnings ratio of 13.18, a PEG ratio of 1.49 and a beta of 1.43.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its earnings results on Wednesday, May 1st. The textile maker reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.07. Gildan Activewear had a net margin of 16.14% and a return on equity of 24.00%. The company had revenue of $695.80 million during the quarter, compared to analysts’ expectations of $692.94 million. During the same quarter in the prior year, the company posted $0.45 earnings per share. Gildan Activewear’s revenue for the quarter was down 1.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Gildan Activewear will post 2.92 earnings per share for the current fiscal year.

Gildan Activewear Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Thursday, May 23rd were paid a $0.205 dividend. The ex-dividend date was Wednesday, May 22nd. This represents a $0.82 dividend on an annualized basis and a dividend yield of 2.10%. Gildan Activewear’s payout ratio is currently 27.70%.

Institutional Trading of Gildan Activewear

A number of hedge funds and other institutional investors have recently made changes to their positions in GIL. CWM LLC grew its position in Gildan Activewear by 86.5% during the fourth quarter. CWM LLC now owns 1,074 shares of the textile maker’s stock valued at $35,000 after buying an additional 498 shares during the period. Natixis acquired a new stake in Gildan Activewear during the first quarter valued at $51,000. EverSource Wealth Advisors LLC grew its position in Gildan Activewear by 16.9% during the first quarter. EverSource Wealth Advisors LLC now owns 1,893 shares of the textile maker’s stock valued at $66,000 after buying an additional 274 shares during the period. UniSuper Management Pty Ltd grew its position in Gildan Activewear by 69.2% during the first quarter. UniSuper Management Pty Ltd now owns 2,200 shares of the textile maker’s stock valued at $82,000 after buying an additional 900 shares during the period. Finally, Tower Research Capital LLC TRC grew its position in Gildan Activewear by 529.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,215 shares of the textile maker’s stock valued at $73,000 after buying an additional 1,863 shares during the period. 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.