Gildan Activewear, Inc. (NYSE:GIL) Receives $57.91 Average PT from Brokerages

Shares of Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) have been given a consensus rating of “Buy” by the eleven brokerages that are currently covering the firm, MarketBeat reports. Nine analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $57.91.

Several analysts have recently issued reports on GIL shares. CIBC decreased their price objective on Gildan Activewear from $60.00 to $56.00 and set an “outperform” rating on the stock in a report on Wednesday, April 30th. TD Securities boosted their target price on Gildan Activewear from $56.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday, April 30th. Barclays began coverage on Gildan Activewear in a report on Monday, April 28th. They set an “overweight” rating and a $51.00 price target on the stock. Finally, Scotiabank upgraded Gildan Activewear to a “strong-buy” rating and set a $55.00 price target on the stock in a report on Wednesday, May 28th.

Hedge Funds Weigh In On Gildan Activewear

A number of hedge funds and other institutional investors have recently made changes to their positions in GIL. Plato Investment Management Ltd purchased a new position in Gildan Activewear in the fourth quarter valued at about $28,000. Olde Wealth Management LLC purchased a new position in Gildan Activewear in the first quarter valued at about $29,000. Twin Tree Management LP purchased a new position in Gildan Activewear in the first quarter valued at about $29,000. Versant Capital Management Inc grew its stake in Gildan Activewear by 510.7% in the first quarter. Versant Capital Management Inc now owns 745 shares of the textile maker’s stock valued at $33,000 after purchasing an additional 623 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in Gildan Activewear by 4,323.5% in the first quarter. GAMMA Investing LLC now owns 752 shares of the textile maker’s stock valued at $33,000 after purchasing an additional 735 shares during the last quarter. Institutional investors own 82.83% of the company’s stock.

Gildan Activewear Stock Up 1.4%

NYSE GIL opened at $50.84 on Thursday. The stock’s 50 day moving average is $47.95 and its 200 day moving average is $47.65. The company has a current ratio of 3.91, a quick ratio of 1.59 and a debt-to-equity ratio of 1.35. Gildan Activewear has a 12 month low of $37.16 and a 12 month high of $55.39. The stock has a market cap of $7.65 billion, a PE ratio of 19.63, a P/E/G ratio of 1.63 and a beta of 1.19.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its quarterly earnings results on Tuesday, April 29th. The textile maker reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.02. Gildan Activewear had a return on equity of 30.61% and a net margin of 12.38%. The company had revenue of $711.70 million for the quarter, compared to analysts’ expectations of $715.29 million. During the same period in the previous year, the firm earned $0.59 EPS. The firm’s revenue was up 2.3% compared to the same quarter last year. Research analysts predict that Gildan Activewear will post 3.48 EPS for the current fiscal year.

Gildan Activewear Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Tuesday, May 20th were given a dividend of $0.226 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date was Tuesday, May 20th. Gildan Activewear’s payout ratio is 34.75%.

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.