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

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

A number of other equities research analysts have also recently issued reports on GIL. Stifel Nicolaus upped their price objective 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. CIBC raised their price objective on Gildan Activewear from $56.00 to $60.00 and gave the company an “outperform” rating in a research note on Thursday. UBS Group boosted their target price on Gildan Activewear from $60.00 to $69.00 and gave the company a “buy” rating in a research note on Thursday. TD Securities raised their price target on Gildan Activewear from $58.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, December 2nd. Finally, BMO Capital Markets lifted their price target on Gildan Activewear from $58.00 to $64.00 and gave the stock an “outperform” rating in a research note on Thursday. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $60.00.

Gildan Activewear Trading Up 2.2 %

NYSE GIL opened at $55.09 on Thursday. 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’s 50-day simple moving average is $49.47 and its two-hundred day simple moving average is $47.54. Gildan Activewear has a twelve month low of $32.23 and a twelve month high of $55.12. The company has a market capitalization of $8.38 billion, a price-to-earnings ratio of 21.78, a PEG ratio of 1.71 and a beta of 1.41.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last announced its quarterly earnings data on Wednesday, February 19th. The textile maker reported $0.83 earnings per share for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.30). The firm had revenue of $822.00 million for the quarter, compared to analysts’ expectations of $805.75 million. Gildan Activewear had a net margin of 13.06% and a return on equity of 26.88%. The business’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.75 earnings per share. Research analysts forecast that Gildan Activewear will post 2.97 EPS for the current fiscal year.

Gildan Activewear Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Wednesday, March 12th will be paid a dividend of $0.226 per share. The ex-dividend date of this dividend is Wednesday, March 12th. This is a boost from Gildan Activewear’s previous quarterly dividend of $0.15. This represents a $0.90 annualized dividend and a dividend yield of 1.64%. Gildan Activewear’s payout ratio is 32.41%.

Institutional Trading of Gildan Activewear

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Norges Bank purchased a new position in Gildan Activewear during the 4th quarter valued at $97,275,000. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Gildan Activewear by 604.1% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,850,971 shares of the textile maker’s stock valued at $86,999,000 after buying an additional 1,588,071 shares during the period. The Manufacturers Life Insurance Company raised its stake in Gildan Activewear by 276.9% in the fourth quarter. The Manufacturers Life Insurance Company now owns 1,769,634 shares of the textile maker’s stock worth $83,394,000 after buying an additional 1,300,121 shares in the last quarter. CIBC Asset Management Inc raised its stake in Gildan Activewear by 545.1% in the fourth quarter. CIBC Asset Management Inc now owns 1,210,314 shares of the textile maker’s stock worth $57,403,000 after buying an additional 1,022,695 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in Gildan Activewear by 776.4% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 817,204 shares of the textile maker’s stock worth $38,414,000 after buying an additional 723,962 shares during the period. Hedge funds and other institutional investors 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.