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

Shares of Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) have earned a consensus rating of “Buy” from the nine brokerages that are presently covering the firm, MarketBeat.com reports. Nine equities research analysts have rated the stock with a buy recommendation. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $60.00.

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

Gildan Activewear Stock Down 0.9 %

Shares of NYSE:GIL opened at $40.78 on Friday. The stock has a market cap of $6.18 billion, a price-to-earnings ratio of 16.31, a PEG ratio of 1.76 and a beta of 1.16. The business’s 50 day moving average is $46.58 and its 200 day moving average is $48.02. Gildan Activewear has a 12-month low of $32.23 and a 12-month high of $55.39. The company has a quick ratio of 0.98, a current ratio of 2.22 and a debt-to-equity ratio of 0.92.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last announced its earnings results 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 net margin of 12.26% and a return on equity of 28.80%. The firm 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 company earned $0.75 EPS. The business’s revenue for the quarter was up 5.0% on a year-over-year basis. On average, sell-side analysts forecast that Gildan Activewear will post 3.48 earnings per share for the current fiscal year.

Gildan Activewear Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 7th. Investors of record on Wednesday, March 12th were paid a $0.226 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 2.22%. This is a positive change from Gildan Activewear’s previous quarterly dividend of $0.15. The ex-dividend date was Wednesday, March 12th. Gildan Activewear’s payout ratio is currently 36.00%.

Hedge Funds Weigh In On Gildan Activewear

Large investors have recently made changes to their positions in the stock. Syon Capital LLC grew its holdings in Gildan Activewear by 3.9% during the 4th quarter. Syon Capital LLC now owns 6,524 shares of the textile maker’s stock valued at $307,000 after buying an additional 242 shares in the last quarter. Fifth Third Bancorp increased its holdings in Gildan Activewear by 61.8% during the 4th quarter. Fifth Third Bancorp now owns 872 shares of the textile maker’s stock worth $41,000 after acquiring an additional 333 shares during the period. Cooper Financial Group boosted its holdings in Gildan Activewear by 2.1% in the 4th quarter. Cooper Financial Group now owns 16,268 shares of the textile maker’s stock valued at $765,000 after purchasing an additional 340 shares during the period. Huntington National Bank increased its holdings in shares of Gildan Activewear by 16.4% in the fourth quarter. Huntington National Bank now owns 2,803 shares of the textile maker’s stock worth $132,000 after purchasing an additional 395 shares during the period. Finally, TD Private Client Wealth LLC raised its position in shares of Gildan Activewear by 19.1% in the fourth quarter. TD Private Client Wealth LLC now owns 3,069 shares of the textile maker’s stock worth $144,000 after buying an additional 492 shares in the last quarter. 82.83% of the stock is owned by 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.