Azzad Asset Management Inc. ADV Has $4.15 Million Position in Gildan Activewear Inc. (NYSE:GIL)

Azzad Asset Management Inc. ADV raised its stake in Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 1.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 109,370 shares of the textile maker’s stock after acquiring an additional 1,230 shares during the period. Azzad Asset Management Inc. ADV owned approximately 0.07% of Gildan Activewear worth $4,147,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. EverSource Wealth Advisors LLC raised its stake in Gildan Activewear by 16.9% in the first quarter. EverSource Wealth Advisors LLC now owns 1,893 shares of the textile maker’s stock valued at $66,000 after purchasing an additional 274 shares in the last quarter. CWM LLC raised its position in shares of Gildan Activewear by 86.5% in the 4th quarter. CWM LLC now owns 1,074 shares of the textile maker’s stock valued at $35,000 after buying an additional 498 shares in the last quarter. Orion Portfolio Solutions LLC lifted its holdings in shares of Gildan Activewear by 1.5% during the 1st quarter. Orion Portfolio Solutions LLC now owns 35,893 shares of the textile maker’s stock worth $1,333,000 after acquiring an additional 535 shares during the period. Assenagon Asset Management S.A. boosted its position in shares of Gildan Activewear by 11.7% during the 2nd quarter. Assenagon Asset Management S.A. now owns 7,156 shares of the textile maker’s stock worth $271,000 after acquiring an additional 747 shares in the last quarter. Finally, Addenda Capital Inc. increased its stake in Gildan Activewear by 0.4% in the first quarter. Addenda Capital Inc. now owns 212,701 shares of the textile maker’s stock valued at $7,898,000 after acquiring an additional 800 shares during the last quarter. 82.83% of the stock is currently owned by institutional investors.

Gildan Activewear Trading Up 1.2 %

NYSE:GIL traded up $0.56 during mid-day trading on Friday, hitting $45.63. 669,304 shares of the company’s stock were exchanged, compared to its average volume of 769,301. Gildan Activewear Inc. has a fifty-two week low of $26.99 and a fifty-two week high of $45.65. The company has a current ratio of 2.38, a quick ratio of 0.92 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $7.56 billion, a P/E ratio of 15.42, a PEG ratio of 1.56 and a beta of 1.43. The company has a 50 day simple moving average of $40.44 and a 200-day simple moving average of $37.39.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued its quarterly earnings results on Thursday, August 1st. The textile maker reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.03. The company had revenue of $862.20 million for the quarter, compared to analyst estimates of $851.10 million. Gildan Activewear had a net margin of 13.01% and a return on equity of 24.62%. Gildan Activewear’s revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.63 earnings per share. As a group, research analysts expect that Gildan Activewear Inc. will post 2.95 earnings per share for the current year.

Gildan Activewear Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Thursday, August 22nd will be paid a $0.205 dividend. The ex-dividend date is Thursday, August 22nd. This represents a $0.82 annualized dividend and a dividend yield of 1.80%. Gildan Activewear’s payout ratio is 27.70%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on GIL shares. Canaccord Genuity Group upped their target price on Gildan Activewear from $42.00 to $43.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Royal Bank of Canada raised their price objective on Gildan Activewear from $41.00 to $44.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Stifel Nicolaus raised Gildan Activewear from a “hold” rating to a “buy” rating and boosted their target price for the stock from $39.00 to $51.00 in a research note on Friday, August 2nd. Canaccord Genuity Group raised their price target 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. Finally, BMO Capital Markets upped their price objective on shares of Gildan Activewear from $43.00 to $47.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $44.50.

Gildan Activewear Profile

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.