Brokerages Set Gildan Activewear Inc. (NYSE:GIL) PT at $39.57

Gildan Activewear Inc. (NYSE:GIL – Get Rating) (TSE:GIL) has been given a consensus recommendation of “Moderate Buy” by the ten analysts that are covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $39.57.

Several equities research analysts have weighed in on GIL shares. National Bank Financial lifted their price target on shares of Gildan Activewear from C$45.00 to C$46.00 in a research note on Thursday, February 23rd. TheStreet downgraded shares of Gildan Activewear from a “b” rating to a “c+” rating in a research note on Wednesday, February 22nd. TD Securities downgraded shares of Gildan Activewear from a “buy” rating to a “hold” rating and decreased their target price for the stock from $43.00 to $36.00 in a research report on Monday, January 23rd. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $39.00 target price on shares of Gildan Activewear in a research report on Thursday, February 23rd.

Gildan Activewear Stock Down 0.6 %

Shares of GIL opened at $32.29 on Monday. Gildan Activewear has a 12 month low of $25.67 and a 12 month high of $39.91. The firm’s 50 day moving average is $30.30 and its 200-day moving average is $29.78. The stock has a market capitalization of $5.80 billion, a PE ratio of 11.02, a P/E/G ratio of 1.18 and a beta of 1.23. The company has a current ratio of 2.69, a quick ratio of 0.78 and a debt-to-equity ratio of 0.46.

Gildan Activewear (NYSE:GIL – Get Rating) (TSE:GIL) last issued its earnings results on Wednesday, February 22nd. The textile maker reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). The company had revenue of $720.00 million during the quarter, compared to analyst estimates of $761.15 million. Gildan Activewear had a net margin of 16.71% and a return on equity of 30.81%. The business’s quarterly revenue was down 8.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.76 EPS. Equities research analysts forecast that Gildan Activewear will post 3.09 EPS for the current year.

Gildan Activewear Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 10th. Investors of record on Tuesday, March 14th will be issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 1.73%. The ex-dividend date of this dividend is Monday, March 13th. Gildan Activewear’s dividend payout ratio (DPR) is presently 23.21%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. boosted its stake in Gildan Activewear by 180.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 927 shares of the textile maker’s stock valued at $27,000 after acquiring an additional 597 shares during the last quarter. Addison Advisors LLC lifted its stake in shares of Gildan Activewear by 311.9% during the 3rd quarter. Addison Advisors LLC now owns 1,071 shares of the textile maker’s stock valued at $30,000 after buying an additional 811 shares in the last quarter. CWM LLC lifted its stake in shares of Gildan Activewear by 255.2% during the 4th quarter. CWM LLC now owns 1,101 shares of the textile maker’s stock valued at $30,000 after buying an additional 791 shares in the last quarter. Lazard Asset Management LLC purchased a new stake in shares of Gildan Activewear during the 3rd quarter valued at approximately $46,000. Finally, Byrne Asset Management LLC purchased a new stake in shares of Gildan Activewear during the 4th quarter valued at approximately $50,000. 75.07% of the stock is currently owned by hedge funds and other institutional investors.

Gildan Activewear Company Profile

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Gildan Activewear, Inc is engaged in the manufacturing and sale of printwear and branded apparel. Its products include activewear, underwear, socks, hosiery, and legwear. The firm operates under the brand name Gildan, Alstyle, American Apparel, Comfort Colors, GOLD TOE, Anvil, Secret, Silks, and Peds.