Brokerages Set Gildan Activewear Inc. (NYSE:GIL) PT at $60.00

Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) has been assigned a consensus rating of “Buy” from the nine ratings firms that are covering the stock, Marketbeat reports. Nine analysts have rated the stock with a buy recommendation. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $60.00.

Several analysts have recently commented on GIL shares. UBS Group increased their price target on shares of Gildan Activewear from $60.00 to $69.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Canaccord Genuity Group increased their target price on Gildan Activewear from $53.00 to $58.00 and gave the company a “buy” rating in a report on Thursday, February 20th. TD Securities boosted their price target on Gildan Activewear from $62.00 to $65.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. BMO Capital Markets increased their price objective on Gildan Activewear from $58.00 to $64.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. Finally, Stifel Nicolaus boosted their target price on shares of Gildan Activewear from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday, February 20th.

Gildan Activewear Stock Up 1.3 %

Gildan Activewear stock opened at $44.76 on Tuesday. Gildan Activewear has a fifty-two week low of $32.23 and a fifty-two week high of $55.39. The firm has a market capitalization of $6.80 billion, a price-to-earnings ratio of 17.90, a price-to-earnings-growth ratio of 1.76 and a beta of 1.39. The stock’s fifty day moving average is $50.30 and its two-hundred day moving average is $48.63. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.98 and a current ratio of 2.22.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last released its quarterly earnings data on Wednesday, February 19th. The textile maker reported $0.83 EPS for the quarter, missing the consensus estimate of $1.13 by ($0.30). Gildan Activewear had a return on equity of 28.80% and a net margin of 12.26%. The business had revenue of $822.00 million during the quarter, compared to analysts’ expectations of $805.75 million. During the same quarter in the prior year, the firm earned $0.75 earnings per share. Gildan Activewear’s quarterly revenue was up 5.0% on a year-over-year basis. Analysts predict that Gildan Activewear will post 3.48 EPS for the current fiscal year.

Gildan Activewear Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Wednesday, March 12th will be issued a dividend of $0.226 per share. This is a positive change from Gildan Activewear’s previous quarterly dividend of $0.15. This represents a $0.90 annualized dividend and a dividend yield of 2.02%. The ex-dividend date is Wednesday, March 12th. Gildan Activewear’s dividend payout ratio is presently 36.00%.

Institutional Investors Weigh In On Gildan Activewear

A number of institutional investors have recently bought and sold shares of the stock. Simcoe Capital Management LLC raised its stake in Gildan Activewear by 10.5% during the third quarter. Simcoe Capital Management LLC now owns 2,387,865 shares of the textile maker’s stock worth $112,492,000 after purchasing an additional 226,695 shares during the period. Intech Investment Management LLC purchased a new position in shares of Gildan Activewear in the 3rd quarter worth $544,000. Forge First Asset Management Inc. raised its position in shares of Gildan Activewear by 108.0% in the 4th quarter. Forge First Asset Management Inc. now owns 46,600 shares of the textile maker’s stock worth $2,191,000 after buying an additional 24,200 shares during the period. CIBC Asset Management Inc boosted its holdings in Gildan Activewear by 545.1% in the fourth quarter. CIBC Asset Management Inc now owns 1,210,314 shares of the textile maker’s stock valued at $57,403,000 after acquiring an additional 1,022,695 shares during the last quarter. Finally, Truist Financial Corp grew its position in Gildan Activewear by 76.8% during the fourth quarter. Truist Financial Corp now owns 19,401 shares of the textile maker’s stock valued at $913,000 after acquiring an additional 8,430 shares during the period. 82.83% of the stock is currently owned by hedge funds and other institutional investors.

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.