Gildan Activewear (NYSE:GIL) Price Target Raised to $44.00

Gildan Activewear (NYSE:GIL) (TSE:GIL) had its price objective increased by Royal Bank of Canada from $41.00 to $44.00 in a research note issued to investors on Friday morning, Marketbeat Ratings reports. The brokerage currently has an outperform rating on the textile maker’s stock.

A number of other brokerages have also weighed in on GIL. BMO Capital Markets raised their price objective on Gildan Activewear from $43.00 to $47.00 and gave the company an outperform rating in a report on Friday. Canaccord Genuity Group boosted their price target on shares of Gildan Activewear from $42.00 to $43.00 and gave the stock a buy rating in a research report on Thursday, May 2nd. Stifel Nicolaus upgraded shares of Gildan Activewear from a hold rating to a buy rating and increased their price objective for the company from $39.00 to $51.00 in a report on Friday. Finally, Canaccord Genuity Group raised their target price on shares of Gildan Activewear from $42.00 to $43.00 and gave the stock a buy rating in a research note on Thursday, May 2nd. Four equities research 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 company presently has an average rating of Moderate Buy and an average target price of $44.50.

Gildan Activewear Price Performance

Shares of GIL stock traded down $0.33 on Friday, reaching $41.01. 535,772 shares of the company were exchanged, compared to its average volume of 760,624. Gildan Activewear has a 1 year low of $26.99 and a 1 year high of $42.00. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.92 and a current ratio of 2.38. The business has a 50-day moving average price of $38.55 and a 200 day moving average price of $36.15. The company has a market cap of $6.79 billion, a price-to-earnings ratio of 13.97, a P/E/G ratio of 1.56 and a beta of 1.43.

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

Gildan Activewear Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Thursday, August 22nd will be issued a $0.205 dividend. The ex-dividend date of this dividend is Thursday, August 22nd. This represents a $0.82 annualized dividend and a yield of 2.00%. Gildan Activewear’s dividend payout ratio (DPR) is currently 27.70%.

Institutional Investors Weigh In On Gildan Activewear

A number of institutional investors have recently made changes to their positions in the stock. Raymond James & Associates acquired a new position in shares of Gildan Activewear in the 4th quarter worth approximately $220,000. DekaBank Deutsche Girozentrale lifted its stake in Gildan Activewear by 21.6% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 127,979 shares of the textile maker’s stock worth $4,213,000 after purchasing an additional 22,761 shares in the last quarter. Vaughan Nelson Investment Management L.P. purchased a new position in shares of Gildan Activewear during the fourth quarter worth $34,456,000. Allspring Global Investments Holdings LLC grew its stake in shares of Gildan Activewear by 18.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 138,429 shares of the textile maker’s stock valued at $4,576,000 after buying an additional 21,675 shares in the last quarter. Finally, Strs Ohio raised its holdings 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 valued at $19,547,000 after buying an additional 480,000 shares during the period. 82.83% of the stock is currently owned by institutional investors and hedge funds.

Gildan Activewear Company 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.