Gildan Activewear (NYSE:GIL) Given New $58.00 Price Target at TD Securities

by · The Markets Daily

Gildan Activewear (NYSE:GIL – Free Report) (TSE:GIL) had its target price lifted by TD Securities from $56.00 to $58.00 in a report released on Friday, BayStreet.CA reports. TD Securities currently has a buy rating on the textile maker’s stock.

A number of other research firms also recently commented on GIL. CIBC boosted their price target on shares of Gildan Activewear from $48.00 to $56.00 and gave the stock an “outperform” rating in a research report on Friday. BMO Capital Markets lifted their price objective on shares of Gildan Activewear from $47.00 to $58.00 and gave the stock an “outperform” rating in a research note on Friday. Stifel Nicolaus lifted their target price 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. Royal Bank of Canada lifted their target price on shares of Gildan Activewear from $41.00 to $44.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Finally, Canaccord Genuity Group raised their price target on shares of Gildan Activewear from $52.00 to $53.00 and gave the stock a “buy” rating in a report on Friday. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.85.

Read Our Latest Report on GIL

Gildan Activewear Trading Down 1.1 %

Shares of NYSE:GIL opened at $49.12 on Friday. The company has a market cap of $7.71 billion, a PE ratio of 19.42, a P/E/G ratio of 1.85 and a beta of 1.44. The company’s 50-day moving average price is $46.56 and its 200 day moving average price is $41.04. Gildan Activewear has a fifty-two week low of $30.68 and a fifty-two week high of $50.12. The company has a quick ratio of 0.97, a current ratio of 2.35 and a debt-to-equity ratio of 0.55.

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

Gildan Activewear Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Thursday, November 21st will be paid a $0.152 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $0.61 dividend on an annualized basis and a yield of 1.24%. Gildan Activewear’s payout ratio is presently 32.41%.

Institutional Investors Weigh In On Gildan Activewear

A number of hedge funds have recently bought and sold shares of GIL. Riverview Trust Co acquired a new position in shares of Gildan Activewear during the 3rd quarter worth about $29,000. Blue Trust Inc. lifted its holdings in shares of Gildan Activewear by 96.1% during the third quarter. Blue Trust Inc. now owns 810 shares of the textile maker’s stock worth $38,000 after buying an additional 397 shares during the last quarter. Natixis bought a new stake in shares of Gildan Activewear in the first quarter valued at approximately $51,000. Cullen Frost Bankers Inc. acquired a new stake in shares of Gildan Activewear in the second quarter worth $51,000. Finally, Tobam bought a new position in Gildan Activewear during the second quarter worth $53,000. 82.83% of the stock is currently 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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