Gildan Activewear (NYSE:GIL) Price Target Raised to $64.00

Gildan Activewear (NYSE:GIL) (TSE:GIL) had its price target lifted by BMO Capital Markets from $58.00 to $64.00 in a research report released on Thursday, 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 reports. CIBC lifted their price objective on shares of Gildan Activewear from $48.00 to $56.00 and gave the company an “outperform” rating in a report on Friday, November 1st. TD Securities lifted their price target on shares of Gildan Activewear from $58.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, December 2nd. Citigroup increased their price objective on shares of Gildan Activewear from $54.00 to $59.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Stifel Nicolaus lifted their target price on Gildan Activewear from $54.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, Canaccord Genuity Group increased their price target on Gildan Activewear from $52.00 to $53.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $60.00.

Gildan Activewear Price Performance

Shares of NYSE GIL opened at $54.18 on Thursday. The company has a fifty day moving average price of $49.57 and a 200 day moving average price of $47.63. Gildan Activewear has a 1-year low of $32.23 and a 1-year high of $55.39. The firm has a market cap of $8.24 billion, a PE ratio of 21.67, a PEG ratio of 1.76 and a beta of 1.41. The company has a current ratio of 2.22, a quick ratio of 0.98 and a debt-to-equity ratio of 0.92.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted 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 return on equity of 28.80% and a net margin of 12.26%. The firm had revenue of $822.00 million for the quarter, compared to analyst estimates of $805.75 million. During the same period in the prior year, the company earned $0.75 earnings per share. The firm’s quarterly revenue was up 5.0% on a year-over-year basis. Research analysts predict that Gildan Activewear will post 3.48 earnings per share for the current fiscal year.

Gildan Activewear Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Wednesday, March 12th will be given a dividend of $0.226 per share. This represents a $0.90 dividend on an annualized basis and a yield of 1.67%. This is a boost from Gildan Activewear’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Wednesday, March 12th. Gildan Activewear’s payout ratio is 36.00%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of GIL. CWM LLC increased its stake in Gildan Activewear by 23.0% during the 3rd quarter. CWM LLC now owns 1,698 shares of the textile maker’s stock worth $80,000 after acquiring an additional 318 shares during the period. Creative Planning increased its position in shares of Gildan Activewear by 12.8% during the third quarter. Creative Planning now owns 13,248 shares of the textile maker’s stock worth $624,000 after buying an additional 1,505 shares during the period. Blue Trust Inc. lifted its stake in shares of Gildan Activewear by 96.1% in the 3rd quarter. Blue Trust Inc. now owns 810 shares of the textile maker’s stock valued at $38,000 after purchasing an additional 397 shares during the period. Raymond James & Associates grew its position in shares of Gildan Activewear by 191.3% during the 3rd quarter. Raymond James & Associates now owns 57,538 shares of the textile maker’s stock worth $2,711,000 after buying an additional 37,785 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of Gildan Activewear by 7,709.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 125,181 shares of the textile maker’s stock worth $5,899,000 after purchasing an additional 123,578 shares in the last quarter. 82.83% of the stock is owned by institutional investors.

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.