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

Gildan Activewear (NYSE:GIL) (TSE:GIL) had its price target upped by TD Securities from $62.00 to $65.00 in a report released on Thursday,BayStreet.CA reports. The brokerage currently has a buy rating on the textile maker’s stock.

Other equities analysts also recently issued reports about the stock. UBS Group boosted their target price on shares of Gildan Activewear from $60.00 to $69.00 and gave the stock a “buy” rating in a report on Thursday. CIBC upped their price objective on shares of Gildan Activewear from $56.00 to $60.00 and gave the company an “outperform” rating in a report on Thursday. BMO Capital Markets upped their price objective on shares of Gildan Activewear from $58.00 to $64.00 and gave the company an “outperform” rating in a report on Thursday. Citigroup upped their price objective on shares of Gildan Activewear from $59.00 to $62.00 and gave the company a “buy” rating in a report on Thursday. Finally, Canaccord Genuity Group upped their price objective on shares of Gildan Activewear from $53.00 to $58.00 and gave the company a “buy” rating in a report on Thursday. Nine research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $60.00.

Gildan Activewear Stock Down 1.7 %

NYSE:GIL opened at $54.18 on Thursday. Gildan Activewear has a 1-year low of $32.23 and a 1-year high of $55.39. The company has a 50-day moving average of $49.57 and a 200 day moving average of $47.63. The firm has a market cap of $8.24 billion, a PE ratio of 21.67, a price-to-earnings-growth ratio of 1.76 and a beta of 1.41. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.22 and a quick ratio of 0.98.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last announced its earnings results on Wednesday, February 19th. The textile maker reported $0.83 EPS for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.30). The firm 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 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 posted $0.75 earnings per share. As a group, research analysts anticipate that Gildan Activewear will post 3.48 EPS for the current fiscal year.

Gildan Activewear Increases Dividend

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

Hedge Funds Weigh In On Gildan Activewear

Several hedge funds and other institutional investors have recently bought and sold shares of GIL. Norges Bank acquired a new position in Gildan Activewear in the 4th quarter worth approximately $97,275,000. Connor Clark & Lunn Investment Management Ltd. boosted its position in Gildan Activewear by 604.1% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,850,971 shares of the textile maker’s stock worth $86,999,000 after purchasing an additional 1,588,071 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in Gildan Activewear by 276.9% in the 4th quarter. The Manufacturers Life Insurance Company now owns 1,769,634 shares of the textile maker’s stock worth $83,394,000 after purchasing an additional 1,300,121 shares in the last quarter. CIBC Asset Management Inc boosted its position in Gildan Activewear by 545.1% in the 4th quarter. CIBC Asset Management Inc now owns 1,210,314 shares of the textile maker’s stock worth $57,403,000 after purchasing an additional 1,022,695 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its position in Gildan Activewear by 776.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 817,204 shares of the textile maker’s stock worth $38,414,000 after purchasing an additional 723,962 shares in the last quarter. Institutional investors and hedge funds 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.