Gildan Activewear (NYSE:GIL) Price Target Increased to $56.00 by Analysts at TD Securities

Gildan Activewear (NYSE:GIL) (TSE:GIL) had its price objective hoisted by TD Securities from $50.00 to $56.00 in a research report released on Wednesday morning, BayStreet.CA reports. The firm currently has a buy rating on the textile maker’s stock.

A number of other analysts have also recently issued reports on GIL. Stifel Nicolaus upped their target price on Gildan Activewear from $51.00 to $54.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. BMO Capital Markets raised their target price 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. Finally, Royal Bank of Canada lifted their target price on shares of Gildan Activewear from $41.00 to $44.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $45.68.

Gildan Activewear Stock Performance

Shares of Gildan Activewear stock opened at $47.60 on Wednesday. The company has a quick ratio of 0.97, a current ratio of 2.35 and a debt-to-equity ratio of 0.55. Gildan Activewear has a 52 week low of $27.24 and a 52 week high of $48.01. The firm’s 50 day moving average is $45.02 and its two-hundred day moving average is $39.93. The firm has a market capitalization of $7.89 billion, a P/E ratio of 16.08, a P/E/G ratio of 1.81 and a beta of 1.43.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last announced its quarterly earnings results on Thursday, August 1st. The textile maker reported $0.74 EPS for the quarter, topping the consensus estimate of $0.71 by $0.03. Gildan Activewear had a net margin of 13.01% and a return on equity of 24.96%. The firm had revenue of $862.20 million for the quarter, compared to analyst estimates of $851.10 million. During the same period last year, the business earned $0.63 EPS. Gildan Activewear’s revenue for the quarter was up 2.6% compared to the same quarter last year. Research analysts forecast that Gildan Activewear will post 2.92 EPS for the current fiscal year.

Gildan Activewear Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Thursday, August 22nd were issued a dividend of $0.205 per share. The ex-dividend date was Thursday, August 22nd. This represents a $0.82 annualized dividend and a yield of 1.72%. Gildan Activewear’s dividend payout ratio is currently 27.70%.

Institutional Investors Weigh In On Gildan Activewear

A number of institutional investors have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Gildan Activewear in the 1st quarter valued at approximately $692,000. Canada Pension Plan Investment Board boosted its position in shares of Gildan Activewear by 16.1% during the 1st quarter. Canada Pension Plan Investment Board now owns 563,498 shares of the textile maker’s stock worth $20,933,000 after purchasing an additional 78,338 shares in the last quarter. Game Plan Financial Advisors LLC grew its stake in shares of Gildan Activewear by 101.7% during the 1st quarter. Game Plan Financial Advisors LLC now owns 64,268 shares of the textile maker’s stock worth $2,386,000 after purchasing an additional 32,397 shares during the period. BW Gestao de Investimentos Ltda. purchased a new position in shares of Gildan Activewear in the 1st quarter valued at about $5,570,000. Finally, Mather Group LLC. acquired a new stake in shares of Gildan Activewear in the first quarter valued at about $122,000. Hedge funds and other institutional investors 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.