Gildan Activewear (NYSE:GIL) Price Target Raised to $65.00 at TD Securities

Gildan Activewear (NYSE:GIL) (TSE:GIL) had its target price increased by TD Securities from $62.00 to $65.00 in a research note issued to investors on Thursday morning,BayStreet.CA reports. They currently have a buy rating on the textile maker’s stock.

Other equities research analysts have also issued reports about the stock. UBS Group lifted their price target on shares of Gildan Activewear from $60.00 to $69.00 and gave the stock a “buy” rating in a research note on Thursday. BMO Capital Markets lifted their target price on Gildan Activewear from $58.00 to $64.00 and gave the stock an “outperform” rating in a research report on Thursday. Citigroup upped their target price on Gildan Activewear from $59.00 to $62.00 and gave the company a “buy” rating in a research report on Thursday. Canaccord Genuity Group raised their price target on Gildan Activewear from $52.00 to $53.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, Canaccord Genuity Group boosted their price objective on Gildan Activewear from $53.00 to $58.00 and gave the company a “buy” rating in a research note on Thursday. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $60.00.

Gildan Activewear Stock Up 2.2 %

Shares of NYSE GIL opened at $55.09 on Thursday. The business has a 50-day moving average of $49.47 and a two-hundred day moving average of $47.54. The company has a market capitalization of $8.38 billion, a price-to-earnings ratio of 21.78, a price-to-earnings-growth ratio of 1.71 and a beta of 1.41. Gildan Activewear has a 1 year low of $32.23 and a 1 year high of $55.12. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.31 and a quick ratio of 0.98.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued its earnings results on Wednesday, February 19th. The textile maker reported $0.83 earnings per share for the quarter, missing the consensus estimate of $1.13 by ($0.30). The business had revenue of $822.00 million for the quarter, compared to analyst estimates of $805.75 million. Gildan Activewear had a return on equity of 26.88% and a net margin of 13.06%. Gildan Activewear’s revenue was up 5.0% on a year-over-year basis. During the same period last year, the business posted $0.75 EPS. On average, analysts forecast that Gildan Activewear will post 2.97 earnings per share for the current fiscal year.

Gildan Activewear Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Wednesday, March 12th will be paid a dividend of $0.226 per share. This represents a $0.90 annualized dividend and a dividend yield of 1.64%. 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. Gildan Activewear’s dividend payout ratio is 32.41%.

Hedge Funds Weigh In On Gildan Activewear

Hedge funds and other institutional investors have recently bought and sold shares of the company. Simcoe Capital Management LLC lifted its stake in shares of Gildan Activewear by 10.5% in the 3rd quarter. Simcoe Capital Management LLC now owns 2,387,865 shares of the textile maker’s stock worth $112,492,000 after acquiring an additional 226,695 shares during the period. Intech Investment Management LLC purchased a new position in Gildan Activewear during the third quarter worth about $544,000. Tacita Capital Inc lifted its position in Gildan Activewear by 1,025.5% in the third quarter. Tacita Capital Inc now owns 13,056 shares of the textile maker’s stock valued at $615,000 after purchasing an additional 11,896 shares during the period. Meritage Portfolio Management purchased a new stake in Gildan Activewear in the 4th quarter valued at approximately $462,000. Finally, CIBC Asset Management Inc increased its position in Gildan Activewear by 545.1% during the 4th quarter. CIBC Asset Management Inc now owns 1,210,314 shares of the textile maker’s stock worth $57,403,000 after purchasing an additional 1,022,695 shares during the period. 82.83% of the stock is currently owned by hedge funds and other institutional investors.

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.