Gildan Activewear, Inc. (NYSE:GIL) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) have been given a consensus recommendation of “Moderate Buy” by the sixteen analysts that are covering the stock, Marketbeat reports. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $76.50.

Several brokerages have commented on GIL. UBS Group upped their price target on Gildan Activewear from $110.00 to $111.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Citigroup reaffirmed a “neutral” rating on shares of Gildan Activewear in a research note on Tuesday, August 4th. TD Securities cut their price target on shares of Gildan Activewear from $80.00 to $54.00 and set a “buy” rating on the stock in a report on Thursday, September 24th. Scotia raised their price target on shares of Gildan Activewear from $65.00 to $67.00 and gave the company a “sector outperform” rating in a report on Friday, July 31st. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Gildan Activewear in a research report on Thursday, August 13th.

Gildan Activewear Stock Down 2.2%

Shares of GIL opened at $40.99 on Friday. Gildan Activewear has a fifty-two week low of $39.93 and a fifty-two week high of $73.69. The company’s fifty day moving average is $51.25 and its two-hundred day moving average is $54.43. The firm has a market cap of $7.59 billion, a PE ratio of 78.83 and a beta of 1.11. The company has a quick ratio of 1.01, a current ratio of 1.93 and a debt-to-equity ratio of 1.15.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last released its quarterly earnings data on Thursday, July 30th. The textile maker reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.17. The business had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.61 billion. Gildan Activewear had a return on equity of 21.03% and a net margin of 1.28%.The business’s revenue for the quarter was up 72.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.97 EPS. Analysts forecast that Gildan Activewear will post 4.67 earnings per share for the current year.

Gildan Activewear Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 14th. Shareholders of record on Thursday, August 20th were paid a dividend of $0.2490 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Thursday, August 20th. Gildan Activewear’s payout ratio is currently 192.31%.

Hedge Funds Weigh In On Gildan Activewear

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Islay Capital Management LLC acquired a new stake in Gildan Activewear during the 4th quarter valued at $25,000. Caitong International Asset Management Co. Ltd lifted its holdings in Gildan Activewear by 14,833.3% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 448 shares of the textile maker’s stock worth $28,000 after buying an additional 445 shares in the last quarter. Banque Cantonale Vaudoise purchased a new position in Gildan Activewear in the 1st quarter valued at about $42,000. Hara Capital LLC purchased a new position in Gildan Activewear in the 2nd quarter valued at about $57,000. Finally, IFP Advisors Inc grew its stake in shares of Gildan Activewear by 435.5% during the fourth quarter. IFP Advisors Inc now owns 1,071 shares of the textile maker’s stock valued at $67,000 after acquiring an additional 871 shares in the last quarter. 82.83% of the stock is owned by institutional investors and hedge funds.

Gildan Activewear Company Profile

Gildan Activewear Inc is a Canadian apparel manufacturer headquartered in Montreal, Quebec. The company produces basic everyday apparel, including T-shirts, fleece garments, underwear, socks and hosiery, for wholesalers, retailers, screen printers, brands and consumers.

Its portfolio includes the Gildan, American Apparel, Comfort Colors and Gold Toe brands, along with other product lines serving the activewear, casualwear and innerwear markets. Gildan also manufactures private-label and co-branded products for customers in several apparel categories.

Founded in 1984 by brothers Glenn and Greg Chamandy, Gildan has developed a vertically integrated manufacturing model that covers key stages from textile production through finished garments.