Gildan Activewear (NYSE:GIL) Price Target Raised to $60.00 at Stifel Nicolaus

by · The Markets Daily

Gildan Activewear (NYSE:GIL – Free Report) (TSE:GIL) had its target price increased by Stifel Nicolaus from $54.00 to $60.00 in a research note issued to investors on Friday morning, BayStreet.CA reports. The brokerage currently has a buy rating on the textile maker’s stock.

GIL has been the topic of several other reports. Canaccord Genuity Group boosted their price target on shares of Gildan Activewear from $52.00 to $53.00 and gave the stock a “buy” rating in a research report on Friday. Citigroup boosted their price target on shares of Gildan Activewear from $54.00 to $59.00 and gave the stock a “buy” rating in a research report on Friday. TD Securities boosted their price target on shares of Gildan Activewear from $56.00 to $58.00 and gave the stock a “buy” rating in a research report on Friday. CIBC boosted their price target on shares of Gildan Activewear from $48.00 to $56.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, BMO Capital Markets boosted their price target on shares of Gildan Activewear from $47.00 to $58.00 and gave the stock an “outperform” rating in a research report on Friday. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.05.

View Our Latest Stock Analysis on Gildan Activewear

Gildan Activewear Stock Up 1.6 %

NYSE GIL traded up $0.76 on Friday, reaching $49.66. The company had a trading volume of 531,424 shares, compared to its average volume of 709,643. The firm has a market capitalization of $7.80 billion, a price-to-earnings ratio of 20.35, a price-to-earnings-growth ratio of 1.83 and a beta of 1.43. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.97 and a current ratio of 2.35. Gildan Activewear has a 1-year low of $28.95 and a 1-year high of $49.92. The company’s fifty day moving average is $46.45 and its 200-day moving average is $40.87.

Gildan Activewear (NYSE:GIL – Get Free Report) (TSE:GIL) last announced its earnings results on Thursday, October 31st. The textile maker reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.01. Gildan Activewear had a net margin of 13.01% and a return on equity of 24.96%. The firm had revenue of $891.10 million during the quarter, compared to analyst estimates of $882.85 million. During the same period in the prior year, the business earned $0.74 EPS. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. On average, research analysts forecast that Gildan Activewear will post 2.93 earnings per share for the current fiscal year.

Gildan Activewear Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Thursday, November 21st will be given a dividend of $0.152 per share. The ex-dividend date is Thursday, November 21st. This represents a $0.61 annualized dividend and a yield of 1.22%. Gildan Activewear’s dividend payout ratio (DPR) is presently 33.61%.

Institutional Investors Weigh In On Gildan Activewear

Several hedge funds have recently bought and sold shares of the stock. Fortis Group Advisors LLC lifted its position in Gildan Activewear by 3.9% during the third quarter. Fortis Group Advisors LLC now owns 6,601 shares of the textile maker’s stock worth $311,000 after acquiring an additional 246 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in Gildan Activewear by 16.9% during the first quarter. EverSource Wealth Advisors LLC now owns 1,893 shares of the textile maker’s stock worth $66,000 after acquiring an additional 274 shares during the last quarter. Aristides Capital LLC lifted its position in Gildan Activewear by 4.3% during the second quarter. Aristides Capital LLC now owns 7,617 shares of the textile maker’s stock worth $289,000 after acquiring an additional 314 shares during the last quarter. CWM LLC lifted its position in Gildan Activewear by 23.0% during the third quarter. CWM LLC now owns 1,698 shares of the textile maker’s stock worth $80,000 after acquiring an additional 318 shares during the last quarter. Finally, Blue Trust Inc. lifted its position in Gildan Activewear by 96.1% during the third quarter. Blue Trust Inc. now owns 810 shares of the textile maker’s stock worth $38,000 after acquiring an additional 397 shares during the last quarter. 82.83% of the stock is currently owned by institutional investors and hedge funds.

About Gildan Activewear

(Get Free Report)

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.

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