Brokerages Set Gildan Activewear, Inc. (NYSE:GIL) PT at $64.58

Shares of Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) have earned a consensus rating of “Moderate Buy” from the twelve ratings firms that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $64.5833.

A number of equities analysts have recently weighed in on GIL shares. Canaccord Genuity Group boosted their price objective on shares of Gildan Activewear from $60.00 to $67.00 and gave the company a “buy” rating in a research report on Thursday, August 14th. National Bankshares reaffirmed an “outperform” rating on shares of Gildan Activewear in a research report on Thursday, August 14th. CIBC upped their price target on shares of Gildan Activewear from $56.00 to $60.00 and gave the stock an “outperformer” rating in a research report on Friday, August 1st. BMO Capital Markets reaffirmed an “outperform” rating on shares of Gildan Activewear in a research report on Thursday, August 14th. Finally, UBS Group upped their price target on shares of Gildan Activewear from $56.00 to $70.00 and gave the stock a “buy” rating in a research report on Tuesday, July 29th.

Hedge Funds Weigh In On Gildan Activewear

Several large investors have recently bought and sold shares of GIL. Norges Bank acquired a new position in shares of Gildan Activewear in the second quarter worth about $101,409,000. Mackenzie Financial Corp raised its position in shares of Gildan Activewear by 61.9% in the second quarter. Mackenzie Financial Corp now owns 4,434,020 shares of the textile maker’s stock valued at $218,622,000 after purchasing an additional 1,695,329 shares during the period. Picton Mahoney Asset Management acquired a new stake in shares of Gildan Activewear in the second quarter worth $65,409,000. The Manufacturers Life Insurance Company boosted its stake in Gildan Activewear by 67.2% during the first quarter. The Manufacturers Life Insurance Company now owns 2,959,555 shares of the textile maker’s stock worth $131,556,000 after buying an additional 1,189,921 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Gildan Activewear by 24.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,678,451 shares of the textile maker’s stock worth $180,305,000 after purchasing an additional 718,896 shares during the last quarter. Institutional investors and hedge funds own 82.83% of the company’s stock.

Gildan Activewear Stock Up 0.4%

GIL stock opened at $54.48 on Tuesday. The company has a market cap of $8.12 billion, a P/E ratio of 17.30, a P/E/G ratio of 1.74 and a beta of 1.17. Gildan Activewear has a 52 week low of $37.16 and a 52 week high of $57.76. The company’s 50-day moving average price is $53.42 and its 200 day moving average price is $48.81. The company has a current ratio of 3.87, a quick ratio of 1.67 and a debt-to-equity ratio of 1.37.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last released its quarterly earnings data on Thursday, July 31st. The textile maker reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.01. Gildan Activewear had a net margin of 14.55% and a return on equity of 34.31%. The firm had revenue of $918.50 million for the quarter, compared to the consensus estimate of $908.41 million. During the same quarter in the previous year, the firm earned $0.74 earnings per share. The firm’s revenue was up 6.5% on a year-over-year basis. Gildan Activewear has set its FY 2025 guidance at 3.400-3.560 EPS. On average, research analysts expect that Gildan Activewear will post 3.48 earnings per share for the current fiscal year.

Gildan Activewear Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Thursday, August 21st were issued a dividend of $0.226 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend was Thursday, August 21st. Gildan Activewear’s dividend payout ratio is 28.57%.

About Gildan Activewear

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.