Gildan Activewear (NYSE:GIL) Given New $78.00 Price Target at BMO Capital Markets

Gildan Activewear (NYSE:GIL) (TSE:GIL) had its price objective hoisted by BMO Capital Markets from $70.00 to $78.00 in a research note published on Monday, MarketBeat.com reports. The brokerage currently has an outperform rating on the textile maker’s stock.

GIL has been the topic of a number of other research reports. Royal Bank Of Canada raised their target price on Gildan Activewear from $68.00 to $71.00 and gave the company an “outperform” rating in a report on Monday, October 27th. TD Securities restated a “buy” rating and issued a $74.00 price objective on shares of Gildan Activewear in a research note on Thursday, October 30th. Scotiabank set a $66.00 target price on shares of Gildan Activewear and gave the stock an “outperform” rating in a research report on Thursday, October 30th. TD Cowen increased their price target on shares of Gildan Activewear from $67.00 to $73.00 and gave the company a “buy” rating in a report on Monday, October 6th. Finally, Zacks Research downgraded shares of Gildan Activewear from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 23rd. Twelve analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Gildan Activewear has a consensus rating of “Moderate Buy” and a consensus price target of $75.54.

Gildan Activewear Stock Performance

Shares of GIL opened at $66.16 on Monday. The company has a market capitalization of $12.25 billion, a PE ratio of 21.14 and a beta of 1.11. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.01 and a quick ratio of 0.88. Gildan Activewear has a one year low of $37.16 and a one year high of $67.96. The company’s fifty day moving average price is $61.29 and its 200 day moving average price is $57.79.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last released its quarterly earnings results on Wednesday, October 29th. The textile maker reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.02. The company had revenue of $910.60 million during the quarter, compared to analysts’ expectations of $925.24 million. Gildan Activewear had a net margin of 14.13% and a return on equity of 35.53%. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.85 earnings per share. Gildan Activewear has set its FY 2025 guidance at 3.450-3.510 EPS. As a group, analysts expect that Gildan Activewear will post 3.48 earnings per share for the current year.

Gildan Activewear Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Wednesday, November 19th were given a dividend of $0.226 per share. This represents a $0.90 annualized dividend and a dividend yield of 1.4%. The ex-dividend date was Wednesday, November 19th. Gildan Activewear’s payout ratio is 28.75%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in Gildan Activewear during the second quarter valued at approximately $101,409,000. Mackenzie Financial Corp lifted its position in shares of Gildan Activewear by 61.9% during the 2nd quarter. Mackenzie Financial Corp now owns 4,434,020 shares of the textile maker’s stock worth $218,622,000 after buying an additional 1,695,329 shares during the period. Lazard Asset Management LLC boosted its stake in Gildan Activewear by 95.2% in the 3rd quarter. Lazard Asset Management LLC now owns 2,799,309 shares of the textile maker’s stock valued at $161,749,000 after buying an additional 1,364,953 shares in the last quarter. Picton Mahoney Asset Management bought a new stake in Gildan Activewear in the second quarter valued at $65,409,000. Finally, Hudson Way Capital Management LLC acquired a new position in Gildan Activewear during the third quarter worth $57,530,000. Institutional investors and hedge funds own 82.83% of the company’s stock.

About Gildan Activewear

Gildan Activewear Inc (NYSE:GIL) is a vertically integrated manufacturer and wholesaler of branded basic apparel, including activewear, socks, hosiery and underwear. Headquartered in Montreal, Quebec, the company produces a wide range of products such as T-shirts, fleece garments, sport shirts, performance wear, and shapewear under its Gildan, Anvil, Comfort Colors, Gold Toe, Peds and Silks brands. Leveraging its in-house knitting, dyeing, cut-and-sew and finishing operations, Gildan supplies blank apparel to screen printers, promotional product distributors and major retailers around the world.

Since its founding in 1984 by Glenn J.