Analysts Set Gildan Activewear Inc. (NYSE:GIL) Price Target at $60.00

Shares of Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) have received a consensus rating of “Buy” from the nine research firms that are currently covering the company, MarketBeat Ratings reports. Nine investment analysts have rated the stock with a buy rating. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $60.00.

A number of brokerages have recently commented on GIL. CIBC lifted their price target on shares of Gildan Activewear from $56.00 to $60.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. UBS Group raised their price objective on Gildan Activewear from $60.00 to $69.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Canaccord Genuity Group increased their target price on shares of Gildan Activewear from $53.00 to $58.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. BMO Capital Markets upped their price objective on shares of Gildan Activewear from $58.00 to $64.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. Finally, Citigroup lifted their target price on shares of Gildan Activewear from $59.00 to $62.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th.

Gildan Activewear Price Performance

GIL stock opened at $40.78 on Friday. Gildan Activewear has a 1 year low of $32.23 and a 1 year high of $55.39. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.22 and a quick ratio of 0.98. The stock has a market cap of $6.18 billion, a price-to-earnings ratio of 16.31, a P/E/G ratio of 1.76 and a beta of 1.16. The company has a 50 day simple moving average of $46.58 and a 200 day simple moving average of $48.02.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last released its quarterly earnings data on Wednesday, February 19th. The textile maker reported $0.83 earnings per share for the quarter, missing the consensus estimate of $1.13 by ($0.30). Gildan Activewear had a net margin of 12.26% and a return on equity of 28.80%. The firm had revenue of $822.00 million for the quarter, compared to analyst estimates of $805.75 million. During the same period last year, the business earned $0.75 EPS. The company’s revenue was up 5.0% compared to the same quarter last year. Research analysts anticipate that Gildan Activewear will post 3.48 EPS for the current fiscal year.

Gildan Activewear Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 7th. Stockholders of record on Wednesday, March 12th were paid a $0.226 dividend. The ex-dividend date of this dividend was Wednesday, March 12th. This is an increase from Gildan Activewear’s previous quarterly dividend of $0.15. This represents a $0.90 annualized dividend and a dividend yield of 2.22%. Gildan Activewear’s dividend payout ratio (DPR) is currently 36.00%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Forge First Asset Management Inc. increased its holdings in shares of Gildan Activewear by 108.0% during the fourth quarter. Forge First Asset Management Inc. now owns 46,600 shares of the textile maker’s stock valued at $2,191,000 after acquiring an additional 24,200 shares in the last quarter. CIBC Asset Management Inc increased its stake in Gildan Activewear by 545.1% during the 4th quarter. CIBC Asset Management Inc now owns 1,210,314 shares of the textile maker’s stock valued at $57,403,000 after purchasing an additional 1,022,695 shares in the last quarter. Truist Financial Corp raised its holdings in Gildan Activewear by 76.8% during the fourth quarter. Truist Financial Corp now owns 19,401 shares of the textile maker’s stock worth $913,000 after buying an additional 8,430 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Gildan Activewear by 80.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 245,926 shares of the textile maker’s stock valued at $11,568,000 after buying an additional 109,993 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its holdings in shares of Gildan Activewear by 776.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 817,204 shares of the textile maker’s stock valued at $38,414,000 after buying an additional 723,962 shares during the last quarter. 82.83% of the stock is owned by institutional investors and hedge funds.

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.