Gildan Activewear (NYSE:GIL) Price Target Raised to $58.00

Gildan Activewear (NYSE:GIL) (TSE:GIL) had its price target raised by Canaccord Genuity Group from $53.00 to $58.00 in a report issued on Thursday,BayStreet.CA reports. The brokerage currently has a buy rating on the textile maker’s stock.

Several other equities analysts also recently commented on GIL. BMO Capital Markets increased their price objective on shares of Gildan Activewear from $58.00 to $64.00 and gave the company an “outperform” rating in a research note on Thursday. UBS Group raised their price target on shares of Gildan Activewear from $60.00 to $69.00 and gave the company a “buy” rating in a research note on Thursday. CIBC raised their price target on shares of Gildan Activewear from $56.00 to $60.00 and gave the company an “outperform” rating in a research note on Thursday. TD Securities raised their price target on shares of Gildan Activewear from $58.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, December 2nd. Finally, Canaccord Genuity Group raised their price target on shares of Gildan Activewear from $52.00 to $53.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Nine research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $60.00.

Gildan Activewear Stock Performance

Shares of Gildan Activewear stock opened at $54.18 on Thursday. The company has a market cap of $8.24 billion, a PE ratio of 21.67, a price-to-earnings-growth ratio of 1.76 and a beta of 1.41. The company has a current ratio of 2.22, a quick ratio of 0.98 and a debt-to-equity ratio of 0.92. The company has a 50 day moving average of $49.57 and a 200-day moving average of $47.63. Gildan Activewear has a 1-year low of $32.23 and a 1-year high of $55.39.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued its quarterly earnings data on Wednesday, February 19th. The textile maker reported $0.83 EPS for the quarter, missing the consensus estimate of $1.13 by ($0.30). The company had revenue of $822.00 million during the quarter, compared to the consensus estimate of $805.75 million. Gildan Activewear had a net margin of 12.26% and a return on equity of 28.80%. Gildan Activewear’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.75 EPS. As a group, equities research analysts forecast that Gildan Activewear will post 3.48 earnings per share for the current fiscal year.

Gildan Activewear Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Wednesday, March 12th will be given a dividend of $0.226 per share. The ex-dividend date of this dividend is Wednesday, March 12th. This is a boost from Gildan Activewear’s previous quarterly dividend of $0.15. This represents a $0.90 annualized dividend and a dividend yield of 1.67%. Gildan Activewear’s dividend payout ratio is 36.00%.

Institutional Investors Weigh In On Gildan Activewear

Large investors have recently modified their holdings of the company. CWM LLC grew its holdings in Gildan Activewear by 23.0% in the third quarter. CWM LLC now owns 1,698 shares of the textile maker’s stock worth $80,000 after purchasing an additional 318 shares during the period. Creative Planning grew its holdings in Gildan Activewear by 12.8% in the third quarter. Creative Planning now owns 13,248 shares of the textile maker’s stock worth $624,000 after purchasing an additional 1,505 shares during the period. Blue Trust Inc. grew its holdings in Gildan Activewear by 96.1% in the third quarter. Blue Trust Inc. now owns 810 shares of the textile maker’s stock worth $38,000 after purchasing an additional 397 shares during the period. Raymond James & Associates grew its holdings in Gildan Activewear by 191.3% in the third quarter. Raymond James & Associates now owns 57,538 shares of the textile maker’s stock worth $2,711,000 after purchasing an additional 37,785 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its holdings in Gildan Activewear by 7,709.2% in the third quarter. Allspring Global Investments Holdings LLC now owns 125,181 shares of the textile maker’s stock worth $5,899,000 after purchasing an additional 123,578 shares during the period. 82.83% of the stock is currently owned by institutional investors and hedge funds.

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.