TD Securities Boosts Gildan Activewear (NYSE:GIL) Price Target to $56.00

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

A number of other equities analysts have also commented on the company. Stifel Nicolaus lifted their price objective on Gildan Activewear from $51.00 to $54.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Royal Bank of Canada increased their price target 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. Finally, BMO Capital Markets boosted their price target on Gildan Activewear from $43.00 to $47.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Four 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, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $45.68.

Gildan Activewear Trading Up 0.2 %

Gildan Activewear stock opened at $47.51 on Wednesday. Gildan Activewear has a one year low of $27.24 and a one year high of $48.01. The company’s fifty day moving average price is $45.26 and its two-hundred day moving average price is $40.05. The company has a market capitalization of $7.87 billion, a price-to-earnings ratio of 16.05, a PEG ratio of 1.81 and a beta of 1.43. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.35 and a quick ratio of 0.97.

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, beating the consensus estimate of $0.71 by $0.03. Gildan Activewear had a return on equity of 24.96% and a net margin of 13.01%. The company had revenue of $862.20 million for the quarter, compared to the consensus estimate of $851.10 million. During the same quarter last year, the company posted $0.63 earnings per share. The company’s revenue for the quarter was up 2.6% compared to the same quarter last year. On average, analysts forecast that Gildan Activewear will post 2.92 earnings per share for the current fiscal year.

Gildan Activewear Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Thursday, August 22nd were paid a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 1.73%. The ex-dividend date was Thursday, August 22nd. Gildan Activewear’s dividend payout ratio is 27.70%.

Hedge Funds Weigh In On Gildan Activewear

A number of large investors have recently modified their holdings of the business. Cooke & Bieler LP grew its stake in shares of Gildan Activewear by 2.7% in the second quarter. Cooke & Bieler LP now owns 10,252,785 shares of the textile maker’s stock valued at $388,786,000 after buying an additional 271,273 shares in the last quarter. Cardinal Capital Management Inc. raised its stake in Gildan Activewear by 1.5% in the second quarter. Cardinal Capital Management Inc. now owns 2,907,144 shares of the textile maker’s stock valued at $110,197,000 after buying an additional 42,094 shares during the period. The Manufacturers Life Insurance Company lifted its position in shares of Gildan Activewear by 14.4% in the second quarter. The Manufacturers Life Insurance Company now owns 2,568,733 shares of the textile maker’s stock valued at $97,290,000 after buying an additional 324,304 shares during the last quarter. EdgePoint Investment Group Inc. boosted its stake in shares of Gildan Activewear by 28.0% during the 2nd quarter. EdgePoint Investment Group Inc. now owns 1,863,618 shares of the textile maker’s stock worth $70,696,000 after acquiring an additional 407,113 shares during the period. Finally, Anson Funds Management LP increased its holdings in shares of Gildan Activewear by 13.8% during the 1st quarter. Anson Funds Management LP now owns 1,791,705 shares of the textile maker’s stock worth $66,521,000 after acquiring an additional 216,705 shares during the last quarter. 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.