Brokerages Set Gildan Activewear Inc. (NYSE:GIL) PT at $41.95

Shares of Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) have earned an average recommendation of “Moderate Buy” from the thirteen research firms that are presently covering the stock, MarketBeat.com reports. Four research analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $41.95.

Several equities analysts have recently issued reports on the stock. Canaccord Genuity Group boosted their price target on shares of Gildan Activewear from $42.00 to $43.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. Royal Bank of Canada reissued an “outperform” rating and set a $41.00 target price on shares of Gildan Activewear in a research note on Monday, April 8th. CIBC raised their price target on shares of Gildan Activewear from $38.00 to $41.00 and gave the company an “outperform” rating in a research note on Thursday, February 22nd. Scotiabank lifted their price target on Gildan Activewear from $39.50 to $40.50 and gave the company a “sector outperform” rating in a report on Friday, February 9th. Finally, Citigroup increased their price objective on Gildan Activewear from $40.00 to $44.00 and gave the stock a “buy” rating in a report on Friday, February 23rd.

Institutional Investors Weigh In On Gildan Activewear

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Strs Ohio boosted its holdings in Gildan Activewear by 981.8% during the third quarter. Strs Ohio now owns 108,202 shares of the textile maker’s stock worth $3,046,000 after buying an additional 98,200 shares in the last quarter. CIBC Asset Management Inc lifted its holdings in shares of Gildan Activewear by 0.8% during the third quarter. CIBC Asset Management Inc now owns 180,453 shares of the textile maker’s stock valued at $5,073,000 after purchasing an additional 1,512 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Gildan Activewear by 61.7% during the third quarter. China Universal Asset Management Co. Ltd. now owns 37,351 shares of the textile maker’s stock valued at $1,046,000 after purchasing an additional 14,251 shares during the last quarter. Byrne Asset Management LLC purchased a new position in Gildan Activewear in the 3rd quarter worth about $34,000. Finally, Todd Asset Management LLC raised its holdings in Gildan Activewear by 4.3% during the 3rd quarter. Todd Asset Management LLC now owns 97,500 shares of the textile maker’s stock worth $2,731,000 after buying an additional 4,000 shares during the period. 82.83% of the stock is currently owned by institutional investors.

Gildan Activewear Trading Down 0.1 %

Gildan Activewear stock opened at $33.07 on Friday. Gildan Activewear has a 1 year low of $26.98 and a 1 year high of $38.87. The firm’s 50-day moving average is $35.47 and its 200-day moving average is $34.08. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.92 and a current ratio of 2.38. The company has a market cap of $5.58 billion, a P/E ratio of 11.17, a PEG ratio of 1.25 and a beta of 1.38.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued 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. The company had revenue of $695.80 million during the quarter, compared to the consensus estimate of $692.94 million. Gildan Activewear had a return on equity of 24.00% and a net margin of 16.14%. Gildan Activewear’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.45 earnings per share. On average, equities analysts expect that Gildan Activewear will post 2.94 earnings per share for the current year.

Gildan Activewear Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Thursday, May 23rd will be paid a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date of this dividend is Wednesday, May 22nd. Gildan Activewear’s dividend payout ratio is presently 27.70%.

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.