Gildan Activewear (NYSE:GIL – Free Report) (TSE:GIL) had its price objective lowered by TD from $80.00 to $54.00 in a research report released on Thursday morning,BayStreet reports. TD currently has a buy rating on the textile maker’s stock.
A number of other brokerages have also recently weighed in on GIL. Stifel Nicolaus set a $83.00 price target on Gildan Activewear and gave the stock a “buy” rating in a research note on Friday, July 31st. Scotiabank reissued a “sector outperform” rating and issued a $67.00 target price (up from $65.00) on shares of Gildan Activewear in a research report on Friday, July 31st. Weiss Ratings restated a “hold (c)” rating on shares of Gildan Activewear in a research report on Thursday, August 13th. UBS Group raised their price objective on shares of Gildan Activewear from $110.00 to $111.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Finally, TD Securities cut their target price on shares of Gildan Activewear from $80.00 to $54.00 and set a “buy” rating on the stock in a research note on Thursday. Thirteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $76.50.
View Our Latest Stock Analysis on GIL
Gildan Activewear Price Performance
Gildan Activewear (NYSE:GIL – Get Free Report) (TSE:GIL) last issued its quarterly earnings results on Thursday, July 30th. The textile maker reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.17. The firm had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.61 billion. Gildan Activewear had a return on equity of 21.03% and a net margin of 1.28%.The firm’s quarterly revenue was up 72.3% on a year-over-year basis. During the same period last year, the company posted $0.97 EPS. As a group, equities research analysts forecast that Gildan Activewear will post 4.67 EPS for the current fiscal year.
Gildan Activewear Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, September 14th. Shareholders of record on Thursday, August 20th were paid a dividend of $0.2490 per share. This represents a $1.00 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend was Thursday, August 20th. Gildan Activewear’s dividend payout ratio is currently 192.31%.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently modified their holdings of the business. Islay Capital Management LLC bought a new position in Gildan Activewear in the fourth quarter valued at approximately $25,000. Larson Financial Group LLC increased its stake in Gildan Activewear by 3,516.7% in the fourth quarter. Larson Financial Group LLC now owns 434 shares of the textile maker’s stock valued at $27,000 after purchasing an additional 422 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its stake in Gildan Activewear by 14,833.3% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 448 shares of the textile maker’s stock valued at $28,000 after purchasing an additional 445 shares in the last quarter. Banque Cantonale Vaudoise acquired a new stake in Gildan Activewear in the first quarter worth $42,000. Finally, Hara Capital LLC bought a new position in shares of Gildan Activewear during the second quarter worth $57,000. 82.83% of the stock is owned by institutional investors and hedge funds.
About Gildan Activewear
Gildan Activewear Inc is a Canadian apparel manufacturer headquartered in Montreal, Quebec. Founded in 1984, the company produces and sells everyday basic apparel for consumers, retailers and the decorated-apparel market. Its products include T-shirts, fleece, underwear, socks, hosiery and other activewear and casualwear items.
Gildan markets products through a portfolio of brands that includes Gildan, American Apparel, Comfort Colors, Gold Toe and Peds. The company primarily serves wholesale distributors, screen printers and other apparel decorators, as well as retailers and private-label customers.
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