Gildan Activewear (NYSE:GIL) Price Target Raised to $62.00

Gildan Activewear (NYSE:GIL) (TSE:GIL) had its price target lifted by Citigroup from $59.00 to $62.00 in a report published on Thursday morning,BayStreet.CA reports. They currently have a buy rating on the textile maker’s stock.

A number of other research firms have also recently issued reports on GIL. CIBC boosted their price objective on Gildan Activewear from $56.00 to $60.00 and gave the company an “outperform” rating in a research report on Thursday. UBS Group boosted their price objective on Gildan Activewear from $60.00 to $69.00 and gave the company a “buy” rating in a research report on Thursday. BMO Capital Markets boosted their price objective on Gildan Activewear from $58.00 to $64.00 and gave the company an “outperform” rating in a research report on Thursday. Canaccord Genuity Group boosted their price objective on Gildan Activewear from $52.00 to $53.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, TD Securities boosted their price objective on Gildan Activewear from $58.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat, Gildan Activewear presently has a consensus rating of “Buy” and a consensus target price of $60.00.

Gildan Activewear Stock Performance

Shares of NYSE GIL opened at $54.18 on Thursday. The company has a quick ratio of 0.98, a current ratio of 2.22 and a debt-to-equity ratio of 0.92. The business’s 50 day moving average is $49.57 and its two-hundred day moving average is $47.63. The company has a market cap of $8.24 billion, a P/E ratio of 21.67, a P/E/G ratio of 1.76 and a beta of 1.41. Gildan Activewear has a 12 month low of $32.23 and a 12 month high of $55.39.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued its quarterly earnings results on Wednesday, February 19th. The textile maker reported $0.83 EPS for the quarter, missing the consensus estimate of $1.13 by ($0.30). The business had revenue of $822.00 million during the quarter, compared to the consensus estimate of $805.75 million. Gildan Activewear had a return on equity of 28.80% and a net margin of 12.26%. The business’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.75 earnings per share. On average, equities analysts expect that Gildan Activewear will post 3.48 EPS for the current year.

Gildan Activewear Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Wednesday, March 12th will be paid a $0.226 dividend. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $0.90 dividend on an annualized basis and a yield of 1.67%. This is a positive change from Gildan Activewear’s previous quarterly dividend of $0.15. Gildan Activewear’s payout ratio is currently 36.00%.

Hedge Funds Weigh In On Gildan Activewear

Institutional investors and hedge funds have recently bought and sold shares of the business. Syon Capital LLC lifted its stake in shares of Gildan Activewear by 3.9% during the fourth quarter. Syon Capital LLC now owns 6,524 shares of the textile maker’s stock valued at $307,000 after acquiring an additional 242 shares during the period. CWM LLC lifted its stake in shares of Gildan Activewear by 23.0% during the third quarter. CWM LLC now owns 1,698 shares of the textile maker’s stock valued at $80,000 after acquiring an additional 318 shares during the period. Fifth Third Bancorp lifted its stake in shares of Gildan Activewear by 61.8% during the fourth quarter. Fifth Third Bancorp now owns 872 shares of the textile maker’s stock valued at $41,000 after acquiring an additional 333 shares during the period. Cooper Financial Group lifted its stake in shares of Gildan Activewear by 2.1% during the fourth quarter. Cooper Financial Group now owns 16,268 shares of the textile maker’s stock valued at $765,000 after acquiring an additional 340 shares during the period. Finally, Huntington National Bank lifted its stake in shares of Gildan Activewear by 16.4% during the fourth quarter. Huntington National Bank now owns 2,803 shares of the textile maker’s stock valued at $132,000 after acquiring an additional 395 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.