Analysts Set Gildan Activewear Inc (GIL) Price Target at $36.60

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Shares of Gildan Activewear Inc (NYSE:GIL) (TSE:GIL) have been assigned a consensus recommendation of “Buy” from the eleven research firms that are covering the firm, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $36.60.

Several equities research analysts have weighed in on the company. Zacks Investment Research upgraded Gildan Activewear from a “sell” rating to a “hold” rating in a report on Tuesday. TheStreet downgraded Gildan Activewear from a “b” rating to a “c+” rating in a report on Thursday, November 1st. Raymond James restated a “strong-buy” rating and set a $40.00 price target on shares of Gildan Activewear in a report on Friday, November 2nd. Desjardins upgraded Gildan Activewear from a “hold” rating to a “buy” rating in a report on Friday, November 2nd. Finally, ValuEngine upgraded Gildan Activewear from a “sell” rating to a “hold” rating in a report on Monday, September 17th.

Shares of GIL stock traded down $0.45 on Monday, hitting $31.64. The stock had a trading volume of 355,508 shares, compared to its average volume of 534,247. The company has a current ratio of 4.94, a quick ratio of 1.79 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $6.55 billion, a PE ratio of 18.40, a P/E/G ratio of 1.43 and a beta of 0.72. Gildan Activewear has a 1 year low of $25.33 and a 1 year high of $34.19.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its quarterly earnings data on Thursday, November 1st. The textile maker reported $0.57 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.01. The firm had revenue of $754.40 million for the quarter, compared to the consensus estimate of $759.15 million. Gildan Activewear had a return on equity of 18.80% and a net margin of 12.28%. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.53 EPS. Research analysts predict that Gildan Activewear will post 1.86 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Thursday, November 15th will be given a dividend of $0.085 per share. The ex-dividend date is Wednesday, November 14th. This represents a $0.34 annualized dividend and a dividend yield of 1.07%. Gildan Activewear’s dividend payout ratio is currently 26.16%.

Large investors have recently added to or reduced their stakes in the company. Global X Management Co LLC boosted its position in shares of Gildan Activewear by 145.3% during the 2nd quarter. Global X Management Co LLC now owns 6,390 shares of the textile maker’s stock worth $180,000 after acquiring an additional 3,785 shares in the last quarter. Lester Murray Antman dba SimplyRich acquired a new position in shares of Gildan Activewear during the 2nd quarter worth about $205,000. Allianz Asset Management GmbH acquired a new position in shares of Gildan Activewear during the 1st quarter worth about $208,000. Prescott Group Capital Management L.L.C. acquired a new position in shares of Gildan Activewear during the 3rd quarter worth about $213,000. Finally, Jane Street Group LLC acquired a new position in shares of Gildan Activewear during the 2nd quarter worth about $221,000. 70.76% of the stock is owned by institutional investors and hedge funds.

About Gildan Activewear

Gildan Activewear Inc manufactures and sells a range of apparel products in the United States, Canada, Mexico, Europe, the Asia-Pacific, and Latin America. It operates in two segments, Printwear and Branded Apparel. The company manufactures and markets active wear products, including T-shirts, fleece tops and bottoms, and sport shirts under Gildan, Gildan Performance, Gildan Platinum, Gildan Hammer, Smart Basics, Comfort Colors, American Apparel, Anvil, Alstyle, Gold Toe, and Mossy Oak brands.

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Analyst Recommendations for Gildan Activewear (NYSE:GIL)

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