Gildan Activewear (NYSE:GIL) Price Target Raised to $60.00

Gildan Activewear (NYSE:GIL) (TSE:GIL) had its price target raised by CIBC from $56.00 to $60.00 in a research note published on Thursday,BayStreet.CA reports. CIBC currently has an outperform rating on the textile maker’s stock.

GIL has been the subject of several other reports. Citigroup upped their target price on Gildan Activewear from $54.00 to $59.00 and gave the company a “buy” rating in a report on Friday, November 1st. BMO Capital Markets boosted their price target on shares of Gildan Activewear from $58.00 to $64.00 and gave the company an “outperform” rating in a research report on Thursday. Canaccord Genuity Group raised their price objective on shares of Gildan Activewear from $52.00 to $53.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. TD Securities boosted their target price on shares of Gildan Activewear from $58.00 to $60.00 and gave the company a “buy” rating in a report on Monday, December 2nd. Finally, Stifel Nicolaus increased their price target on shares of Gildan Activewear from $54.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Gildan Activewear presently has a consensus rating of “Buy” and a consensus price target of $60.00.

Gildan Activewear Price Performance

Shares of NYSE GIL opened at $55.09 on Thursday. The firm has a 50-day simple moving average of $49.47 and a 200-day simple moving average of $47.54. The company has a quick ratio of 0.98, a current ratio of 2.31 and a debt-to-equity ratio of 0.81. The stock 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 52 week low of $32.23 and a 52 week high of $55.12.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last released its quarterly earnings data on Wednesday, February 19th. The textile maker reported $0.83 EPS for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.30). The business had revenue of $822.00 million during the quarter, compared to analyst estimates of $805.75 million. Gildan Activewear had a net margin of 13.06% and a return on equity of 26.88%. The firm’s revenue was up 5.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.75 EPS. On average, equities analysts predict 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 $0.226 dividend. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.64%. This is an increase from Gildan Activewear’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Wednesday, March 12th. Gildan Activewear’s payout ratio is 32.41%.

Hedge Funds Weigh In On Gildan Activewear

A number of hedge funds have recently made changes to their positions in the stock. Plato Investment Management Ltd acquired a new position in Gildan Activewear during the fourth quarter worth $28,000. Blue Trust Inc. raised its holdings in shares of Gildan Activewear by 96.1% in the 3rd quarter. Blue Trust Inc. now owns 810 shares of the textile maker’s stock valued at $38,000 after buying an additional 397 shares during the period. Fifth Third Bancorp raised its holdings in shares of Gildan Activewear by 61.8% in the 4th quarter. Fifth Third Bancorp now owns 872 shares of the textile maker’s stock valued at $41,000 after buying an additional 333 shares during the period. Steward Partners Investment Advisory LLC lifted its stake in Gildan Activewear by 500.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 894 shares of the textile maker’s stock worth $42,000 after acquiring an additional 745 shares in the last quarter. Finally, Venturi Wealth Management LLC boosted its holdings in Gildan Activewear by 899.0% during the 4th quarter. Venturi Wealth Management LLC now owns 1,009 shares of the textile maker’s stock valued at $47,000 after acquiring an additional 908 shares during the period. Hedge funds and other institutional investors 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.