Gildan Activewear (NYSE:GIL) Stock Price Expected to Rise, TD Securities Analyst Says

Gildan Activewear (NYSE:GIL) (TSE:GIL) had its price objective raised by TD Securities from $56.00 to $58.00 in a research note issued to investors on Friday, BayStreet.CA reports. They currently have a buy rating on the textile maker’s stock.

Several other research analysts have also recently weighed in on GIL. BMO Capital Markets boosted their price objective on shares of Gildan Activewear from $47.00 to $58.00 and gave the stock an “outperform” rating in a research report on Friday. CIBC upped their target price on shares of Gildan Activewear from $48.00 to $56.00 and gave the company an “outperform” rating in a research report on Friday. Canaccord Genuity Group upped their target price on shares of Gildan Activewear from $52.00 to $53.00 and gave the company a “buy” rating in a research report on Friday. Royal Bank of Canada upped their target price on shares of Gildan Activewear from $41.00 to $44.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Finally, Stifel Nicolaus upped their target price on shares of Gildan Activewear from $51.00 to $54.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $50.85.

Gildan Activewear Stock Down 1.1 %

Shares of GIL opened at $49.12 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.35 and a quick ratio of 0.97. The business’s 50 day simple moving average is $46.56 and its 200-day simple moving average is $41.04. Gildan Activewear has a one year low of $30.68 and a one year high of $50.12. The company has a market capitalization of $7.71 billion, a P/E ratio of 19.42, a PEG ratio of 1.85 and a beta of 1.44.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its quarterly earnings data on Thursday, October 31st. The textile maker reported $0.85 earnings per share for the quarter, hitting the consensus estimate of $0.85. Gildan Activewear had a net margin of 13.06% and a return on equity of 25.66%. The firm had revenue of $891.10 million during the quarter, compared to analysts’ expectations of $882.85 million. During the same quarter in the previous year, the company posted $0.74 EPS. Gildan Activewear’s revenue was up 2.4% on a year-over-year basis. As a group, sell-side analysts predict that Gildan Activewear will post 2.93 EPS for the current fiscal year.

Gildan Activewear Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Thursday, November 21st will be issued a $0.152 dividend. This represents a $0.61 annualized dividend and a dividend yield of 1.24%. The ex-dividend date of this dividend is Thursday, November 21st. Gildan Activewear’s dividend payout ratio (DPR) is 32.41%.

Hedge Funds Weigh In On Gildan Activewear

Institutional investors and hedge funds have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Gildan Activewear in the 1st quarter valued at $692,000. Canada Pension Plan Investment Board boosted its stake in Gildan Activewear by 16.1% in the 1st quarter. Canada Pension Plan Investment Board now owns 563,498 shares of the textile maker’s stock worth $20,933,000 after purchasing an additional 78,338 shares during the period. BW Gestao de Investimentos Ltda. acquired a new position in Gildan Activewear in the 1st quarter worth $5,570,000. Boston Partners boosted its stake in Gildan Activewear by 217.3% in the 1st quarter. Boston Partners now owns 357,910 shares of the textile maker’s stock worth $13,281,000 after purchasing an additional 245,119 shares during the period. Finally, Bridges Investment Management Inc. acquired a new position in Gildan Activewear in the 2nd quarter worth $1,425,000. Institutional investors and hedge funds own 82.83% of the company’s stock.

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.