Gildan Activewear Inc (GIL) Receives Average Recommendation of “Hold” from Brokerages

Shares of Gildan Activewear Inc (NYSE:GIL) (TSE:GIL) have been given an average recommendation of “Hold” by the fourteen research firms that are covering the stock, MarketBeat.com reports. Nine equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $33.75.

Several research firms recently weighed in on GIL. ValuEngine raised shares of Gildan Activewear from a “hold” rating to a “buy” rating in a research note on Monday, February 5th. Goldman Sachs reaffirmed a “buy” rating and set a $37.00 target price on shares of Gildan Activewear in a research note on Friday, December 8th. Bank of America reaffirmed a “buy” rating and set a $37.00 target price on shares of Gildan Activewear in a research note on Friday, December 8th. Stifel Nicolaus set a $37.00 target price on shares of Gildan Activewear and gave the company a “buy” rating in a research note on Friday, December 15th. Finally, Royal Bank of Canada set a $32.00 target price on shares of Gildan Activewear and gave the company a “hold” rating in a research note on Wednesday, February 14th.

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A number of hedge funds have recently added to or reduced their stakes in GIL. The Manufacturers Life Insurance Company lifted its position in Gildan Activewear by 44.5% during the fourth quarter. The Manufacturers Life Insurance Company now owns 4,340,079 shares of the textile maker’s stock valued at $140,185,000 after purchasing an additional 1,337,248 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in Gildan Activewear by 1,291.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 578,805 shares of the textile maker’s stock valued at $18,689,000 after purchasing an additional 537,205 shares during the last quarter. Mackenzie Financial Corp lifted its position in Gildan Activewear by 20.6% during the fourth quarter. Mackenzie Financial Corp now owns 2,228,837 shares of the textile maker’s stock valued at $71,991,000 after purchasing an additional 380,627 shares during the last quarter. Deutsche Bank AG lifted its position in Gildan Activewear by 30.8% during the fourth quarter. Deutsche Bank AG now owns 1,558,870 shares of the textile maker’s stock valued at $50,350,000 after purchasing an additional 366,895 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in Gildan Activewear by 7.7% during the third quarter. JPMorgan Chase & Co. now owns 3,913,265 shares of the textile maker’s stock valued at $121,819,000 after purchasing an additional 278,852 shares during the last quarter. Institutional investors and hedge funds own 73.03% of the company’s stock.

Shares of Gildan Activewear stock remained flat at $$28.93 during midday trading on Friday. The company’s stock had a trading volume of 386,838 shares, compared to its average volume of 431,321. The company has a quick ratio of 1.40, a current ratio of 5.06 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $6,341.69, a PE ratio of 17.97, a PEG ratio of 1.24 and a beta of 0.91. Gildan Activewear has a 1 year low of $25.84 and a 1 year high of $34.19.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its earnings results on Thursday, February 22nd. The textile maker reported $0.31 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.31. The company had revenue of $653.70 million during the quarter, compared to analysts’ expectations of $636.62 million. Gildan Activewear had a net margin of 13.17% and a return on equity of 18.63%. Gildan Activewear’s quarterly revenue was up 11.2% on a year-over-year basis. During the same period last year, the company posted $0.32 earnings per share. analysts forecast that Gildan Activewear will post 1.87 earnings per share for the current year.

Gildan Activewear declared that its board has approved a stock buyback plan on Thursday, February 22nd that allows the company to buyback 10,960,000 shares. This buyback authorization allows the textile maker to reacquire shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Thursday, March 8th will be given a dividend of $0.112 per share. The ex-dividend date of this dividend is Wednesday, March 7th. This represents a $0.45 annualized dividend and a yield of 1.55%. This is a positive change from Gildan Activewear’s previous quarterly dividend of $0.09. Gildan Activewear’s dividend payout ratio (DPR) is 27.95%.

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Gildan Activewear Company Profile

Gildan Activewear Inc is a manufacturer and marketer of branded basic family apparel, including T-shirts, fleece, sport shirts, underwear, socks, hosiery and shapewear. The Company operates through two segments: Printwear and Branded Apparel. The Printwear segment designs, manufactures, sources, markets, and distributes undecorated activewear products.

Analyst Recommendations for Gildan Activewear (NYSE:GIL)

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