Gildan Activewear (NYSE:GIL) Given New $64.00 Price Target at BMO Capital Markets

Gildan Activewear (NYSE:GIL) (TSE:GIL) had its price objective boosted by BMO Capital Markets from $58.00 to $64.00 in a research note issued to investors on Thursday morning, MarketBeat Ratings reports. BMO Capital Markets currently has an outperform rating on the textile maker’s stock.

Other analysts have also issued reports about the stock. TD Securities increased their price target on shares of Gildan Activewear from $58.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, December 2nd. CIBC increased their price target on Gildan Activewear from $48.00 to $56.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Canaccord Genuity Group increased their price target on Gildan Activewear from $52.00 to $53.00 and gave the company a “buy” rating in a report on Friday, November 1st. UBS Group upgraded shares of Gildan Activewear from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $50.00 to $60.00 in a research note on Friday, January 10th. Finally, Stifel Nicolaus lifted their price target on shares of Gildan Activewear from $54.00 to $60.00 and gave the stock 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 data from MarketBeat, Gildan Activewear has a consensus rating of “Buy” and an average target price of $60.00.

Gildan Activewear Trading Up 2.2 %

Shares of GIL stock opened at $55.09 on Thursday. The stock has a market cap of $8.38 billion, a price-to-earnings ratio of 22.04, a price-to-earnings-growth ratio of 1.74 and a beta of 1.41. The firm’s 50 day moving average price is $49.47 and its two-hundred day moving average price is $47.54. Gildan Activewear has a fifty-two week low of $32.23 and a fifty-two week high of $55.12. The company has a quick ratio of 0.98, a current ratio of 2.31 and a debt-to-equity ratio of 0.81.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last released its earnings results on Wednesday, February 19th. The textile maker reported $0.83 earnings per share for the quarter, missing the consensus estimate of $1.13 by ($0.30). Gildan Activewear had a net margin of 12.26% and a return on equity of 27.49%. The business had revenue of $822.00 million for the quarter, compared to the consensus estimate of $805.75 million. During the same quarter in the previous year, the firm earned $0.75 EPS. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. On average, analysts anticipate that Gildan Activewear will post 3.44 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. Investors 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 is a positive change from Gildan Activewear’s previous quarterly dividend of $0.15. This represents a $0.90 annualized dividend and a yield of 1.64%. Gildan Activewear’s dividend payout ratio (DPR) is 32.80%.

Hedge Funds Weigh In On Gildan Activewear

Several large investors have recently bought and sold shares of GIL. Plato Investment Management Ltd acquired a new stake in Gildan Activewear during the fourth quarter worth approximately $28,000. Blue Trust Inc. boosted its position in shares of Gildan Activewear by 96.1% during the third 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 last quarter. Fifth Third Bancorp lifted its holdings in Gildan Activewear by 61.8% during the fourth quarter. Fifth Third Bancorp now owns 872 shares of the textile maker’s stock worth $41,000 after acquiring an additional 333 shares during the period. Steward Partners Investment Advisory LLC lifted its holdings in Gildan Activewear by 500.0% during the fourth 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 during the period. Finally, Venturi Wealth Management LLC lifted its holdings in Gildan Activewear by 899.0% during the fourth quarter. Venturi Wealth Management LLC now owns 1,009 shares of the textile maker’s stock worth $47,000 after acquiring an additional 908 shares during the period. 82.83% of the stock is currently owned by institutional investors.

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.