Raymond James reiterated their strong-buy rating on shares of Gildan Activewear (NYSE:GIL) (TSE:GIL) in a research note issued to investors on Friday morning. They currently have a $40.00 price target on the textile maker’s stock.
A number of other analysts have also recently commented on the stock. Desjardins upgraded shares of Gildan Activewear from a hold rating to a buy rating in a research report on Friday. Zacks Investment Research cut shares of Gildan Activewear from a hold rating to a sell rating in a research report on Wednesday, October 10th. ValuEngine upgraded shares of Gildan Activewear from a sell rating to a hold rating in a research report on Monday, September 17th. TheStreet upgraded shares of Gildan Activewear from a c+ rating to a b- rating in a research report on Friday, August 24th. Finally, TD Securities upped their price objective on shares of Gildan Activewear from $35.00 to $36.00 and gave the company a buy rating in a research report on Friday, August 3rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Gildan Activewear currently has a consensus rating of Buy and an average target price of $33.78.
Shares of Gildan Activewear stock traded up $0.63 on Friday, hitting $31.13. 824,678 shares of the company’s stock traded hands, compared to its average volume of 502,815. The stock has a market capitalization of $6.45 billion, a price-to-earnings ratio of 17.89, a PEG ratio of 1.43 and a beta of 0.72. Gildan Activewear has a one year low of $25.33 and a one year high of $34.19. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.76 and a current ratio of 5.06.
Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued its earnings results on Thursday, November 1st. The textile maker reported $0.57 EPS for the quarter, beating the consensus estimate of $0.56 by $0.01. The company had revenue of $754.40 million during the quarter, compared to analysts’ expectations of $759.15 million. Gildan Activewear had a net margin of 12.28% and a return on equity of 18.70%. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.53 EPS. As a group, research analysts forecast that Gildan Activewear will post 1.86 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Thursday, November 15th will be given a $0.085 dividend. This represents a $0.34 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date of this dividend is Wednesday, November 14th. Gildan Activewear’s dividend payout ratio is currently 26.16%.
Several institutional investors and hedge funds have recently added to or reduced their stakes in GIL. Global X Management Co LLC increased its position in shares of Gildan Activewear by 145.3% in the 2nd quarter. Global X Management Co LLC now owns 6,390 shares of the textile maker’s stock valued at $180,000 after buying an additional 3,785 shares in the last quarter. Lester Murray Antman dba SimplyRich bought a new position in Gildan Activewear during the 2nd quarter worth about $205,000. Allianz Asset Management GmbH bought a new position in Gildan Activewear during the 1st quarter worth about $208,000. Jane Street Group LLC bought a new position in Gildan Activewear during the 2nd quarter worth about $221,000. Finally, Cornerstone Wealth Management LLC bought a new position in Gildan Activewear during the 2nd quarter worth about $250,000. Institutional investors and hedge funds own 70.91% of the company’s stock.
Gildan Activewear Company Profile
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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