Gildan Activewear Inc. (NYSE:GIL) Receives $41.95 Average Price Target from Brokerages

Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) has received a consensus recommendation of “Moderate Buy” from the thirteen ratings firms that are presently covering the stock, Marketbeat.com reports. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $41.95.

GIL has been the subject of a number of research reports. TD Securities upped their price objective on shares of Gildan Activewear from $42.00 to $46.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. Canaccord Genuity Group upped their price objective on shares of Gildan Activewear from $42.00 to $43.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $41.00 price objective on shares of Gildan Activewear in a research note on Monday, April 8th. Finally, Canaccord Genuity Group upped their price objective on shares of Gildan Activewear from $42.00 to $43.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd.

Gildan Activewear Price Performance

GIL stock opened at $37.92 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.38 and a quick ratio of 0.92. Gildan Activewear has a one year low of $26.99 and a one year high of $39.07. The stock has a market cap of $6.39 billion, a PE ratio of 12.81, a P/E/G ratio of 1.44 and a beta of 1.43. The firm has a 50 day simple moving average of $36.26 and a two-hundred day simple moving average of $34.95.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last released its quarterly earnings results on Wednesday, May 1st. The textile maker reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.07. Gildan Activewear had a net margin of 16.14% and a return on equity of 24.00%. The business had revenue of $695.80 million during the quarter, compared to analysts’ expectations of $692.94 million. During the same quarter in the previous year, the company earned $0.45 EPS. The business’s quarterly revenue was down 1.0% compared to the same quarter last year. On average, analysts predict that Gildan Activewear will post 2.92 EPS for the current fiscal year.

Gildan Activewear Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Thursday, May 23rd were issued a $0.205 dividend. The ex-dividend date was Wednesday, May 22nd. This represents a $0.82 annualized dividend and a yield of 2.16%. Gildan Activewear’s dividend payout ratio (DPR) is presently 27.36%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in GIL. Norges Bank bought a new position in Gildan Activewear in the 4th quarter worth $70,917,000. Browning West LP raised its holdings in Gildan Activewear by 30.0% in the 4th quarter. Browning West LP now owns 8,640,448 shares of the textile maker’s stock worth $285,653,000 after purchasing an additional 1,994,900 shares in the last quarter. Vaughan Nelson Investment Management L.P. bought a new position in shares of Gildan Activewear in the 4th quarter worth about $34,456,000. National Bank of Canada FI increased its stake in shares of Gildan Activewear by 43.8% in the 1st quarter. National Bank of Canada FI now owns 1,762,761 shares of the textile maker’s stock worth $65,451,000 after acquiring an additional 537,215 shares in the last quarter. Finally, Strs Ohio increased its stake in shares of Gildan Activewear by 443.6% in the 4th quarter. Strs Ohio now owns 588,202 shares of the textile maker’s stock worth $19,547,000 after acquiring an additional 480,000 shares in the last quarter. 82.83% of the stock is currently 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.