Gildan Activewear (NYSE:GIL) Price Target Raised to $65.00

Gildan Activewear (NYSE:GIL) (TSE:GIL) had its price objective lifted by Stifel Nicolaus from $60.00 to $65.00 in a report issued on Thursday,BayStreet.CA reports. The brokerage currently has a buy rating on the textile maker’s stock.

Several other research firms have also recently commented on GIL. Canaccord Genuity Group raised their target price 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. CIBC raised their target price on shares of Gildan Activewear from $56.00 to $60.00 and gave the stock an “outperform” rating in a research report on Thursday. TD Securities raised their target price 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. UBS Group increased their price target on shares of Gildan Activewear from $60.00 to $69.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, BMO Capital Markets increased their price target on shares of Gildan Activewear from $58.00 to $64.00 and gave the stock an “outperform” rating in a research note on Thursday. Nine analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $60.00.

Gildan Activewear Trading Down 1.7 %

Shares of GIL opened at $54.18 on Thursday. The stock has a market capitalization of $8.24 billion, a P/E ratio of 21.67, a PEG ratio of 1.76 and a beta of 1.41. 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 firm has a fifty day simple moving average of $49.57 and a two-hundred day simple moving average of $47.63. Gildan Activewear has a twelve month low of $32.23 and a twelve month high of $55.39.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its 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). Gildan Activewear had a return on equity of 28.80% and a net margin of 12.26%. The company had revenue of $822.00 million during the quarter, compared to analysts’ expectations of $805.75 million. During the same period in the prior year, the business posted $0.75 earnings per share. The company’s revenue for the quarter was up 5.0% on a year-over-year basis. On average, research analysts anticipate that Gildan Activewear will post 3.48 EPS for the current year.

Gildan Activewear Increases Dividend

The company 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 dividend of $0.226 per share. This is a positive change from Gildan Activewear’s previous quarterly dividend of $0.15. This represents a $0.90 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date of this dividend is Wednesday, March 12th. Gildan Activewear’s dividend payout ratio (DPR) is currently 36.00%.

Institutional Trading of Gildan Activewear

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Janus Henderson Group PLC increased its stake in Gildan Activewear by 1.9% during the 4th quarter. Janus Henderson Group PLC now owns 6,970,246 shares of the textile maker’s stock valued at $327,950,000 after purchasing an additional 128,674 shares in the last quarter. Simcoe Capital Management LLC increased its stake in Gildan Activewear by 10.5% during the 3rd quarter. Simcoe Capital Management LLC now owns 2,387,865 shares of the textile maker’s stock valued at $112,492,000 after purchasing an additional 226,695 shares in the last quarter. Norges Bank bought a new stake in Gildan Activewear during the 4th quarter valued at about $97,275,000. Connor Clark & Lunn Investment Management Ltd. increased its stake in Gildan Activewear by 604.1% during the 4th 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 purchasing an additional 1,588,071 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in Gildan Activewear by 276.9% during the 4th quarter. The Manufacturers Life Insurance Company now owns 1,769,634 shares of the textile maker’s stock valued at $83,394,000 after purchasing an additional 1,300,121 shares in the last quarter. 82.83% of the stock is currently owned by institutional investors.

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.