Gildan Activewear (NYSE:GIL) Price Target Raised to $43.00 at Canaccord Genuity Group

Gildan Activewear (NYSE:GIL) (TSE:GIL) had its price target hoisted by Canaccord Genuity Group from $42.00 to $43.00 in a research note released on Thursday morning, BayStreet.CA reports. The firm currently has a buy rating on the textile maker’s stock.

A number of other equities analysts also recently commented on GIL. Royal Bank of Canada reaffirmed an outperform rating and set a $41.00 price objective on shares of Gildan Activewear in a report on Monday, April 8th. CIBC lifted their price target on shares of Gildan Activewear from $38.00 to $41.00 and gave the company an outperform rating in a report on Thursday, February 22nd. UBS Group cut shares of Gildan Activewear from a buy rating to a neutral rating and decreased their price objective for the stock from $40.00 to $37.00 in a research note on Friday, January 5th. Scotiabank lifted their target price on shares of Gildan Activewear from $39.50 to $40.50 and gave the company a sector outperform rating in a research note on Friday, February 9th. Finally, Citigroup increased their price target on Gildan Activewear from $40.00 to $44.00 and gave the stock a buy rating in a research report on Friday, February 23rd. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Gildan Activewear presently has an average rating of Moderate Buy and a consensus price target of $41.95.

Gildan Activewear Price Performance

NYSE GIL opened at $33.10 on Thursday. The stock has a 50-day simple moving average of $35.51 and a 200 day simple moving average of $34.05. Gildan Activewear has a twelve month low of $26.98 and a twelve month high of $38.87. The stock has a market capitalization of $5.58 billion, a PE ratio of 11.18, a P/E/G ratio of 1.25 and a beta of 1.38. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.83 and a current ratio of 2.38.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its quarterly earnings data on Wednesday, May 1st. The textile maker reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.07. Gildan Activewear had a return on equity of 24.00% and a net margin of 16.14%. The company had revenue of $695.80 million during the quarter, compared to analysts’ expectations of $692.94 million. During the same period in the prior year, the business earned $0.45 earnings per share. Gildan Activewear’s revenue for the quarter was down 1.0% compared to the same quarter last year. Research analysts anticipate that Gildan Activewear will post 2.94 EPS for the current year.

Gildan Activewear Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Thursday, May 23rd will be issued a dividend of $0.205 per share. The ex-dividend date of this dividend is Wednesday, May 22nd. This represents a $0.82 annualized dividend and a yield of 2.48%. Gildan Activewear’s dividend payout ratio is currently 27.36%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of GIL. Pzena Investment Management LLC lifted its holdings in Gildan Activewear by 1.6% in the third quarter. Pzena Investment Management LLC now owns 10,996,538 shares of the textile maker’s stock valued at $308,013,000 after buying an additional 168,601 shares during the period. Cooke & Bieler LP raised its position in shares of Gildan Activewear by 1.7% during the 4th quarter. Cooke & Bieler LP now owns 10,075,062 shares of the textile maker’s stock valued at $333,082,000 after acquiring an additional 169,476 shares during the last quarter. Browning West LP lifted its stake in shares of Gildan Activewear by 30.0% in the 4th quarter. Browning West LP now owns 8,640,448 shares of the textile maker’s stock valued at $285,653,000 after purchasing an additional 1,994,900 shares during the period. Vanguard Group Inc. boosted its position in shares of Gildan Activewear by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 6,401,045 shares of the textile maker’s stock worth $179,293,000 after purchasing an additional 97,924 shares during the last quarter. Finally, Guardian Capital LP boosted its position in shares of Gildan Activewear by 3.2% in the 3rd quarter. Guardian Capital LP now owns 2,739,070 shares of the textile maker’s stock worth $77,128,000 after purchasing an additional 84,744 shares during the last quarter. Institutional investors 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.