Gildan Activewear (NYSE:GIL) Price Target Raised to $56.00

by · The Markets Daily

Gildan Activewear (NYSE:GIL – Free Report) (TSE:GIL) had its price target boosted by CIBC from $48.00 to $56.00 in a report issued on Friday morning, BayStreet.CA reports. CIBC currently has an outperform rating on the textile maker’s stock.

Other equities research analysts have also issued research reports about the stock. Canaccord Genuity Group boosted their price target on shares of Gildan Activewear from $52.00 to $53.00 and gave the company a “buy” rating in a report on Friday. Royal Bank of Canada boosted their target price on shares of Gildan Activewear from $41.00 to $44.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. TD Securities upped their price target on shares of Gildan Activewear from $50.00 to $56.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Stifel Nicolaus upped their price target on shares of Gildan Activewear from $51.00 to $54.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Finally, BMO Capital Markets upped their price target on shares of Gildan Activewear from $47.00 to $58.00 and gave the stock an “outperform” rating in a research report on Friday. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Gildan Activewear presently has an average rating of “Moderate Buy” and an average target price of $50.85.

Read Our Latest Report on Gildan Activewear

Gildan Activewear Trading Up 1.6 %

NYSE:GIL opened at $49.66 on Friday. Gildan Activewear has a 12 month low of $28.95 and a 12 month high of $49.92. The firm has a market cap of $7.80 billion, a price-to-earnings ratio of 19.63, a P/E/G ratio of 1.85 and a beta of 1.44. 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’s 50 day moving average is $46.45 and its 200-day moving average is $40.94.

Gildan Activewear (NYSE:GIL – Get Free Report) (TSE:GIL) last released its quarterly earnings results on Thursday, October 31st. The textile maker reported $0.85 EPS for the quarter, meeting analysts’ consensus estimates of $0.85. Gildan Activewear had a net margin of 13.06% and a return on equity of 25.66%. The company had revenue of $891.10 million for the quarter, compared to analyst estimates of $882.85 million. During the same quarter last year, the firm posted $0.74 earnings per share. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. Equities analysts anticipate that Gildan Activewear will post 2.93 EPS for the current year.

Gildan Activewear Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Thursday, November 21st will be issued a dividend of $0.152 per share. The ex-dividend date of this dividend 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 32.41%.

Institutional Trading of Gildan Activewear

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Atria Investments Inc bought a new stake in Gildan Activewear during the 3rd quarter worth about $391,000. Verdence Capital Advisors LLC increased its stake in shares of Gildan Activewear by 6.7% in the 3rd quarter. Verdence Capital Advisors LLC now owns 16,097 shares of the textile maker’s stock valued at $758,000 after acquiring an additional 1,004 shares during the last quarter. Fiera Capital Corp increased its stake in shares of Gildan Activewear by 5.3% in the 3rd quarter. Fiera Capital Corp now owns 255,734 shares of the textile maker’s stock valued at $12,053,000 after acquiring an additional 12,933 shares during the last quarter. Intact Investment Management Inc. increased its stake in shares of Gildan Activewear by 12.0% in the 3rd quarter. Intact Investment Management Inc. now owns 987,250 shares of the textile maker’s stock valued at $46,473,000 after acquiring an additional 106,150 shares during the last quarter. Finally, US Bancorp DE increased its stake in shares of Gildan Activewear by 24.6% in the 3rd quarter. US Bancorp DE now owns 9,359 shares of the textile maker’s stock valued at $441,000 after acquiring an additional 1,849 shares during the last quarter. 82.83% of the stock is owned by institutional investors.

Gildan Activewear Company Profile

(Get Free Report)

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.

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