Gildan Activewear, Inc. (NYSE:GIL) Stock Has Average Price Target of $76.50

Shares of Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) have been assigned an average recommendation of “Moderate Buy” from the sixteen analysts that are currently covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $76.50.

GIL has been the topic of several recent research reports. Stifel Nicolaus set a $83.00 price target on shares of Gildan Activewear and gave the company a “buy” rating in a report on Friday, July 31st. Royal Bank Of Canada reiterated an “outperform” rating and set a $82.00 price objective (up from $78.00) on shares of Gildan Activewear in a research note on Friday, July 31st. UBS Group boosted their price objective on Gildan Activewear from $110.00 to $111.00 and gave the company a “buy” rating in a report on Friday, July 31st. Weiss Ratings restated a “hold (c)” rating on shares of Gildan Activewear in a research note on Thursday, August 13th. Finally, Citigroup reaffirmed a “neutral” rating on shares of Gildan Activewear in a report on Tuesday, August 4th.

Hedge Funds Weigh In On Gildan Activewear

Institutional investors have recently made changes to their positions in the company. Fifth Third Bancorp raised its holdings in shares of Gildan Activewear by 16.5% during the first quarter. Fifth Third Bancorp now owns 1,355 shares of the textile maker’s stock valued at $75,000 after acquiring an additional 192 shares during the last quarter. Tacita Capital Inc lifted its position in shares of Gildan Activewear by 1.9% in the fourth quarter. Tacita Capital Inc now owns 11,250 shares of the textile maker’s stock valued at $704,000 after acquiring an additional 211 shares in the last quarter. Corient Private Wealth LLC boosted its stake in shares of Gildan Activewear by 3.9% in the fourth quarter. Corient Private Wealth LLC now owns 9,043 shares of the textile maker’s stock worth $566,000 after acquiring an additional 339 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Gildan Activewear by 5.9% in the first quarter. Assenagon Asset Management S.A. now owns 6,468 shares of the textile maker’s stock worth $359,000 after acquiring an additional 359 shares during the last quarter. Finally, Islay Capital Management LLC purchased a new stake in shares of Gildan Activewear during the fourth quarter worth approximately $25,000. 82.83% of the stock is owned by hedge funds and other institutional investors.

Gildan Activewear Stock Performance

Shares of NYSE GIL opened at $42.66 on Friday. The company has a 50 day simple moving average of $52.02 and a two-hundred day simple moving average of $54.90. The stock has a market cap of $7.90 billion, a price-to-earnings ratio of 82.05 and a beta of 1.08. The company has a current ratio of 1.93, a quick ratio of 1.01 and a debt-to-equity ratio of 1.15. Gildan Activewear has a 12 month low of $39.93 and a 12 month high of $73.69.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last released its quarterly earnings data on Thursday, July 30th. The textile maker reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.17. Gildan Activewear had a net margin of 1.28% and a return on equity of 21.03%. The firm had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.61 billion. During the same quarter in the prior year, the business earned $0.97 earnings per share. The business’s quarterly revenue was up 72.3% compared to the same quarter last year. As a group, analysts predict that Gildan Activewear will post 4.67 earnings per share for the current year.

Gildan Activewear Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 14th. Shareholders of record on Thursday, August 20th were given a $0.2490 dividend. This represents a $1.00 annualized dividend and a yield of 2.3%. The ex-dividend date was Thursday, August 20th. Gildan Activewear’s dividend payout ratio is currently 192.31%.

About Gildan Activewear

Gildan Activewear Inc is a Canadian apparel manufacturer headquartered in Montreal, Quebec. Founded in 1984, the company produces and sells everyday basic apparel for consumers, retailers and the decorated-apparel market. Its products include T-shirts, fleece, underwear, socks, hosiery and other activewear and casualwear items.

Gildan markets products through a portfolio of brands that includes Gildan, American Apparel, Comfort Colors, Gold Toe and Peds. The company primarily serves wholesale distributors, screen printers and other apparel decorators, as well as retailers and private-label customers.