Stifel Nicolaus Trims Gildan Activewear (NYSE:GIL) Target Price to $36.00

Gildan Activewear (NYSE:GIL) (TSE:GIL) had its price objective reduced by Stifel Nicolaus from $39.00 to $36.00 in a research report sent to investors on Monday morning, BayStreet.CA reports. Stifel Nicolaus currently has a hold rating on the textile maker’s stock.

A number of other research firms have also weighed in on GIL. Royal Bank of Canada restated an outperform rating and set a $41.00 price target on shares of Gildan Activewear in a research report on Monday, April 8th. Canaccord Genuity Group lifted their target price on shares of Gildan Activewear from $42.00 to $43.00 and gave the stock a buy rating in a research note on Thursday, May 2nd. Finally, Canaccord Genuity Group lifted their target price on shares of Gildan Activewear from $42.00 to $43.00 and gave the stock a buy rating in a research note on Thursday, May 2nd. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, Gildan Activewear has a consensus rating of Moderate Buy and an average price target of $41.95.

Gildan Activewear Stock Performance

GIL opened at $38.91 on Monday. The firm has a market capitalization of $6.45 billion, a PE ratio of 13.15, a PEG ratio of 1.50 and a beta of 1.43. Gildan Activewear has a twelve month low of $26.99 and a twelve month high of $40.12. The firm’s 50-day moving average price is $37.93 and its 200 day moving average price is $35.69. The company has a current ratio of 2.38, a quick ratio of 0.92 and a debt-to-equity ratio of 0.48.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its quarterly earnings results on Wednesday, May 1st. The textile maker reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.07. The firm had revenue of $695.80 million for the quarter, compared to analyst estimates of $692.94 million. Gildan Activewear had a net margin of 16.14% and a return on equity of 24.00%. Gildan Activewear’s quarterly revenue was down 1.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.45 earnings per share. As a group, sell-side analysts expect that Gildan Activewear will post 2.92 EPS for the current fiscal year.

Gildan Activewear Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Thursday, May 23rd were issued a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 2.11%. The ex-dividend date was Wednesday, May 22nd. Gildan Activewear’s dividend payout ratio (DPR) is presently 27.70%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. CWM LLC grew its position in Gildan Activewear by 86.5% during the 4th quarter. CWM LLC now owns 1,074 shares of the textile maker’s stock worth $35,000 after purchasing an additional 498 shares during the last quarter. Natixis purchased a new stake in shares of Gildan Activewear during the first quarter worth about $51,000. EverSource Wealth Advisors LLC grew its holdings in shares of 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 buying an additional 274 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in Gildan Activewear by 529.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,215 shares of the textile maker’s stock valued at $73,000 after purchasing an additional 1,863 shares during the period. Finally, UniSuper Management Pty Ltd grew its holdings in Gildan Activewear by 69.2% in the first quarter. UniSuper Management Pty Ltd now owns 2,200 shares of the textile maker’s stock valued at $82,000 after purchasing an additional 900 shares during the period. Institutional investors and hedge funds own 82.83% of the company’s stock.

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.