Gildan Activewear, Inc. (GIL) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) have earned an average recommendation of “Hold” from the twelve ratings firms that are presently covering the firm, MarketBeat.com reports. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $35.14.

GIL has been the subject of several research reports. Zacks Investment Research raised shares of Gildan Activewear from a “hold” rating to a “buy” rating and set a $32.00 price target for the company in a research report on Wednesday, May 31st. TD Securities reaffirmed a “buy” rating and set a $31.00 price target on shares of Gildan Activewear in a research report on Thursday, April 27th. Canaccord Genuity set a $32.00 price target on shares of Gildan Activewear and gave the company a “buy” rating in a research report on Friday, July 7th. BMO Capital Markets reaffirmed a “buy” rating and set a $34.00 price target (up previously from $32.00) on shares of Gildan Activewear in a research report on Friday, August 4th. Finally, TheStreet lowered shares of Gildan Activewear from a “b-” rating to a “c” rating in a research report on Wednesday, May 3rd.

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Several hedge funds and other institutional investors have recently made changes to their positions in GIL. US Bancorp DE increased its position in shares of Gildan Activewear by 24.2% in the first quarter. US Bancorp DE now owns 3,718 shares of the textile maker’s stock worth $101,000 after buying an additional 725 shares during the period. Commonwealth Bank of Australia increased its position in shares of Gildan Activewear by 9.7% in the second quarter. Commonwealth Bank of Australia now owns 3,414 shares of the textile maker’s stock worth $103,000 after buying an additional 303 shares during the period. DekaBank Deutsche Girozentrale increased its position in shares of Gildan Activewear by 133.7% in the second quarter. DekaBank Deutsche Girozentrale now owns 3,475 shares of the textile maker’s stock worth $106,000 after buying an additional 1,988 shares during the period. PNC Financial Services Group Inc. increased its position in shares of Gildan Activewear by 43.2% in the first quarter. PNC Financial Services Group Inc. now owns 3,968 shares of the textile maker’s stock worth $107,000 after buying an additional 1,198 shares during the period. Finally, Global X Management Co. LLC increased its position in shares of Gildan Activewear by 33.1% in the second quarter. Global X Management Co. LLC now owns 3,591 shares of the textile maker’s stock worth $110,000 after buying an additional 893 shares during the period. Institutional investors own 77.19% of the company’s stock.

Shares of Gildan Activewear (NYSE:GIL) traded down 0.13% during trading on Friday, reaching $30.13. 382,658 shares of the company’s stock were exchanged. The stock has a 50-day moving average price of $30.46 and a 200 day moving average price of $27.98. Gildan Activewear has a 12 month low of $23.55 and a 12 month high of $31.83. The firm has a market cap of $6.76 billion, a price-to-earnings ratio of 18.24 and a beta of 0.72.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last released its quarterly earnings results on Thursday, August 3rd. The textile maker reported $0.49 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.01. Gildan Activewear had a net margin of 14.16% and a return on equity of 18.65%. The firm had revenue of $715.40 million during the quarter, compared to analyst estimates of $753.85 million. During the same quarter in the prior year, the firm earned $0.41 EPS. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. On average, analysts forecast that Gildan Activewear will post $1.70 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 11th. Investors of record on Thursday, August 17th will be paid a dividend of $0.094 per share. The ex-dividend date is Tuesday, August 15th. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.25%. Gildan Activewear’s dividend payout ratio (DPR) is presently 22.42%.

About Gildan Activewear

Gildan Activewear Inc is a manufacturer and marketer of branded basic family apparel, including T-shirts, fleece, sport shirts, underwear, socks, hosiery and shapewear. The Company operates through two segments: Printwear and Branded Apparel. The Printwear segment designs, manufactures, sources, markets, and distributes undecorated activewear products.

Analyst Recommendations for Gildan Activewear (NYSE:GIL)

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