Stifel Nicolaus Issues Positive Forecast for Gildan Activewear (NYSE:GIL) Stock Price

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

GIL has been the subject of several other reports. Canaccord Genuity Group increased their price objective on shares of Gildan Activewear from $52.00 to $53.00 and gave the company a “buy” rating in a report on Friday, November 1st. Canaccord Genuity Group lifted their price target on Gildan Activewear from $53.00 to $58.00 and gave the company a “buy” rating in a research report on Thursday. BMO Capital Markets upped their price objective on Gildan Activewear from $58.00 to $64.00 and gave the company an “outperform” rating in a report on Thursday. CIBC lifted their target price on Gildan Activewear from $56.00 to $60.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, TD Securities raised their price objective on shares of Gildan Activewear from $58.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $60.00.

Gildan Activewear Stock Up 2.2 %

Shares of Gildan Activewear stock opened at $55.09 on Thursday. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.31 and a quick ratio of 0.98. Gildan Activewear has a 1-year low of $32.23 and a 1-year high of $55.12. The business’s fifty day moving average price is $49.47 and its two-hundred day moving average price is $47.54. The company has a market capitalization of $8.38 billion, a P/E ratio of 21.78, a PEG ratio of 1.71 and a beta of 1.41.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued 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 company had revenue of $822.00 million for the quarter, compared to the consensus estimate of $805.75 million. Gildan Activewear had a net margin of 13.06% and a return on equity of 26.88%. Gildan Activewear’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.75 earnings per share. As a group, research analysts forecast that Gildan Activewear will post 2.97 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. 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 dividend on an annualized basis and a yield of 1.64%. Gildan Activewear’s dividend payout ratio is currently 32.41%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in GIL. Syon Capital LLC raised its stake in shares of Gildan Activewear by 3.9% during the 4th quarter. Syon Capital LLC now owns 6,524 shares of the textile maker’s stock worth $307,000 after purchasing an additional 242 shares in the last quarter. CWM LLC increased its holdings in Gildan Activewear by 23.0% in the third quarter. CWM LLC now owns 1,698 shares of the textile maker’s stock worth $80,000 after buying an additional 318 shares during the last quarter. Fifth Third Bancorp raised its position in 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 in the last quarter. Cooper Financial Group lifted its stake in Gildan Activewear by 2.1% in 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 last quarter. Finally, Huntington National Bank lifted its stake in Gildan Activewear by 16.4% in 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 last quarter. 82.83% of the stock is owned by hedge funds and other 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.