Gildan Activewear Inc. (NYSE:GIL) Given Average Recommendation of “Buy” by Brokerages

Gildan Activewear Inc. (NYSE:GILGet Rating) (TSE:GIL) has earned a consensus rating of “Buy” from the thirteen analysts that are currently covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $50.00.

A number of equities analysts recently issued reports on the stock. TD Securities increased their price target on shares of Gildan Activewear from $50.00 to $51.00 and gave the stock a “buy” rating in a research note on Thursday, February 24th. Royal Bank of Canada increased their price target on shares of Gildan Activewear from $51.00 to $52.00 and gave the stock an “outperform” rating in a research note on Thursday, May 5th. Desjardins decreased their price target on shares of Gildan Activewear from C$63.00 to C$55.00 in a research note on Friday, May 6th. Canaccord Genuity Group decreased their price target on shares of Gildan Activewear from $52.00 to $48.00 and set a “buy” rating for the company in a research note on Thursday, May 5th. Finally, National Bank Financial decreased their price target on shares of Gildan Activewear from C$65.00 to C$64.00 in a research note on Wednesday, March 30th.

Shares of NYSE:GIL opened at $30.88 on Friday. The company has a market cap of $5.77 billion, a price-to-earnings ratio of 9.22, a price-to-earnings-growth ratio of 1.15 and a beta of 1.44. The company has a 50-day moving average price of $34.33 and a 200-day moving average price of $38.16. The company has a current ratio of 3.33, a quick ratio of 1.54 and a debt-to-equity ratio of 0.50. Gildan Activewear has a 12 month low of $28.86 and a 12 month high of $43.63.

Gildan Activewear (NYSE:GILGet Rating) (TSE:GIL) last issued its quarterly earnings data on Wednesday, May 4th. The textile maker reported $0.76 EPS for the quarter, beating the consensus estimate of $0.49 by $0.27. The firm had revenue of $774.90 million during the quarter, compared to the consensus estimate of $666.81 million. Gildan Activewear had a net margin of 21.07% and a return on equity of 31.46%. The company’s quarterly revenue was up 31.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.48 earnings per share. As a group, research analysts forecast that Gildan Activewear will post 2.97 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 20th. Stockholders of record on Thursday, May 26th will be paid a dividend of $0.169 per share. This represents a $0.68 annualized dividend and a dividend yield of 2.19%. The ex-dividend date is Wednesday, May 25th. Gildan Activewear’s dividend payout ratio is presently 20.30%.

Several hedge funds have recently made changes to their positions in the company. Neuberger Berman Group LLC raised its position in shares of Gildan Activewear by 21.1% during the 1st quarter. Neuberger Berman Group LLC now owns 213,092 shares of the textile maker’s stock valued at $8,013,000 after purchasing an additional 37,152 shares during the period. The Manufacturers Life Insurance Company raised its position in shares of Gildan Activewear by 85.0% during the 1st quarter. The Manufacturers Life Insurance Company now owns 2,191,716 shares of the textile maker’s stock valued at $82,339,000 after purchasing an additional 1,007,107 shares during the period. Jane Street Group LLC increased its holdings in Gildan Activewear by 266.6% in the 1st quarter. Jane Street Group LLC now owns 111,427 shares of the textile maker’s stock valued at $4,176,000 after acquiring an additional 81,035 shares during the last quarter. Quantbot Technologies LP bought a new stake in Gildan Activewear in the 1st quarter valued at $451,000. Finally, Eaton Vance Management increased its holdings in Gildan Activewear by 8,396.3% in the 1st quarter. Eaton Vance Management now owns 89,296 shares of the textile maker’s stock valued at $3,352,000 after acquiring an additional 88,245 shares during the last quarter. Hedge funds and other institutional investors own 75.31% of the company’s stock.

Gildan Activewear Company Profile (Get Rating)

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, Comfort Colors, American Apparel, Alstyle, and GoldToe brands.

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Analyst Recommendations for Gildan Activewear (NYSE:GIL)

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