Gildan Activewear Inc. (NYSE:GIL) Receives Consensus Rating of “Buy” from Analysts

Shares of Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) have been assigned an average rating of “Buy” from the ten analysts that are covering the stock, MarketBeat reports. Nine equities research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $58.20.

A number of brokerages have weighed in on GIL. UBS Group upped their price target on Gildan Activewear from $60.00 to $69.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. BMO Capital Markets upped their price target on Gildan Activewear from $58.00 to $64.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. Citigroup upped their price target on Gildan Activewear from $59.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. CIBC cut their price target on Gildan Activewear from $60.00 to $56.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 30th. Finally, Stifel Nicolaus upped their price objective on Gildan Activewear from $60.00 to $65.00 and gave the company a “buy” rating in a report on Thursday, February 20th.

Gildan Activewear Stock Performance

Shares of NYSE GIL opened at $49.14 on Wednesday. The company has a quick ratio of 0.98, a current ratio of 2.22 and a debt-to-equity ratio of 0.92. The business’s 50 day moving average is $44.25 and its two-hundred day moving average is $47.81. The company has a market cap of $7.45 billion, a P/E ratio of 19.66, a P/E/G ratio of 1.76 and a beta of 1.21. Gildan Activewear has a 12 month low of $34.20 and a 12 month high of $55.39.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last released its quarterly earnings data on Tuesday, April 29th. The textile maker reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.02. Gildan Activewear had a return on equity of 28.80% and a net margin of 12.26%. The business had revenue of $711.70 million for the quarter, compared to analysts’ expectations of $715.29 million. During the same period in the previous year, the business posted $0.59 earnings per share. Gildan Activewear’s quarterly revenue was up 2.3% on a year-over-year basis. On average, equities analysts expect that Gildan Activewear will post 3.48 EPS for the current year.

Gildan Activewear Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Tuesday, May 20th will be given a dividend of $0.226 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date is Tuesday, May 20th. Gildan Activewear’s dividend payout ratio is currently 34.75%.

Institutional Investors Weigh In On Gildan Activewear

A number of hedge funds have recently modified their holdings of the business. Aptus Capital Advisors LLC acquired a new stake in shares of Gildan Activewear during the first quarter worth about $5,468,000. Makena Capital Management LLC raised its position in shares of Gildan Activewear by 47.2% during the first quarter. Makena Capital Management LLC now owns 241,205 shares of the textile maker’s stock worth $10,666,000 after purchasing an additional 77,364 shares during the period. Northwest & Ethical Investments L.P. raised its position in shares of Gildan Activewear by 60.3% during the first quarter. Northwest & Ethical Investments L.P. now owns 83,018 shares of the textile maker’s stock worth $3,672,000 after purchasing an additional 31,245 shares during the period. Raymond James Financial Inc. raised its position in shares of Gildan Activewear by 0.7% during the first quarter. Raymond James Financial Inc. now owns 80,133 shares of the textile maker’s stock worth $3,543,000 after purchasing an additional 552 shares during the period. Finally, American Century Companies Inc. raised its position in shares of Gildan Activewear by 5.1% during the first quarter. American Century Companies Inc. now owns 172,305 shares of the textile maker’s stock worth $7,618,000 after purchasing an additional 8,338 shares during the period. Institutional investors and hedge funds own 82.83% of the company’s stock.

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.