Gildan Activewear (NYSE:GIL) Raised to “Buy” at TD Securities

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TD Securities upgraded shares of Gildan Activewear (NYSE:GIL) (TSE:GIL) from a hold rating to a buy rating in a research report report published on Friday morning, BenzingaRatingsTable reports.

A number of other brokerages have also commented on GIL. Zacks Investment Research upgraded shares of Gildan Activewear from a hold rating to a buy rating and set a $45.00 price objective on the stock in a report on Wednesday, July 31st. Raymond James reiterated a strong-buy rating and issued a $14.00 price objective on shares of Gildan Activewear in a report on Thursday, May 2nd. Royal Bank of Canada boosted their price objective on shares of Gildan Activewear from $34.00 to $35.00 and gave the stock a hold rating in a report on Thursday, May 2nd. Finally, Desjardins upgraded shares of Gildan Activewear from a hold rating to a buy rating in a report on Friday. Three equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Gildan Activewear has a consensus rating of Buy and an average target price of $34.66.

NYSE:GIL opened at $38.27 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 4.92 and a quick ratio of 1.74. The firm has a market cap of $7.87 billion, a price-to-earnings ratio of 20.58, a price-to-earnings-growth ratio of 1.40 and a beta of 0.83. The company’s fifty day simple moving average is $39.15. Gildan Activewear has a twelve month low of $28.11 and a twelve month high of $40.40.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued its quarterly earnings data on Thursday, August 1st. The textile maker reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.02. Gildan Activewear had a net margin of 10.14% and a return on equity of 18.35%. The firm had revenue of $801.60 million for the quarter, compared to analyst estimates of $793.91 million. During the same quarter in the previous year, the business posted $0.52 EPS. The firm’s revenue was up 4.9% compared to the same quarter last year. Equities research analysts forecast that Gildan Activewear will post 1.99 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, September 9th. Stockholders of record on Thursday, August 15th will be paid a $0.236 dividend. The ex-dividend date is Wednesday, August 14th. This represents a $0.94 dividend on an annualized basis and a dividend yield of 2.47%. Gildan Activewear’s dividend payout ratio (DPR) is presently 29.03%.

Several institutional investors have recently modified their holdings of the company. FMR LLC raised its stake in shares of Gildan Activewear by 19.3% in the 1st quarter. FMR LLC now owns 9,830,993 shares of the textile maker’s stock valued at $353,485,000 after purchasing an additional 1,589,389 shares in the last quarter. Janus Henderson Group PLC raised its stake in shares of Gildan Activewear by 0.4% in the 2nd quarter. Janus Henderson Group PLC now owns 9,713,799 shares of the textile maker’s stock valued at $375,748,000 after purchasing an additional 36,796 shares in the last quarter. Pzena Investment Management LLC raised its stake in shares of Gildan Activewear by 87.2% in the 1st quarter. Pzena Investment Management LLC now owns 3,718,142 shares of the textile maker’s stock valued at $133,742,000 after purchasing an additional 1,732,215 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Gildan Activewear by 89.6% in the 1st quarter. The Manufacturers Life Insurance Company now owns 2,823,941 shares of the textile maker’s stock valued at $101,577,000 after purchasing an additional 1,334,579 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Gildan Activewear in the 4th quarter valued at about $66,115,000. Institutional investors and hedge funds own 68.91% of the company’s stock.

About Gildan Activewear

Gildan Activewear Inc manufactures and sells a range of apparel products in North America, Europe, the Asia-Pacific, and Latin America. The company manufactures and markets active wear products, including T-shirts, fleece tops and bottoms, and sport shirts under Gildan, Gildan Performance, Gildan Platinum, Gildan Hammer, Comfort Colors, American Apparel, Anvil, Alstyle, and Gold Toe brands.

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Analyst Recommendations for Gildan Activewear (NYSE:GIL)

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