Gildan Activewear, Inc. (NYSE:GIL) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) have been given an average rating of “Moderate Buy” by the sixteen brokerages that are currently covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation and thirteen have issued a buy recommendation on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $79.0714.

Several research analysts recently commented on the stock. Zacks Research raised shares of Gildan Activewear from a “strong sell” rating to a “hold” rating in a report on Friday, May 1st. Royal Bank Of Canada restated an “outperform” rating and set a $82.00 target price (up from $78.00) on shares of Gildan Activewear in a research report on Friday, July 31st. Scotia lifted their price target on Gildan Activewear from $65.00 to $67.00 and gave the company a “sector outperform” rating in a research report on Friday, July 31st. Canadian Imperial Bank of Commerce reiterated an “outperform” rating and set a $77.00 price target on shares of Gildan Activewear in a research report on Friday, May 1st. Finally, UBS Group raised their price objective on shares of Gildan Activewear from $110.00 to $111.00 and gave the company a “buy” rating in a research report on Friday, July 31st.

Gildan Activewear Price Performance

Gildan Activewear stock opened at $58.19 on Friday. Gildan Activewear has a 12 month low of $46.00 and a 12 month high of $73.69. The company has a current ratio of 1.93, a quick ratio of 1.01 and a debt-to-equity ratio of 1.15. The business’s 50 day simple moving average is $54.22 and its 200 day simple moving average is $59.27. The company has a market cap of $10.78 billion, a price-to-earnings ratio of 111.91 and a beta of 1.11.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last released its earnings results on Thursday, July 30th. The textile maker reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.17. Gildan Activewear had a return on equity of 21.03% and a net margin of 1.28%.The business had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.61 billion. During the same period last year, the business posted $0.97 earnings per share. The business’s revenue for the quarter was up 72.3% on a year-over-year basis. Sell-side analysts forecast that Gildan Activewear will post 4.68 EPS for the current year.

Gildan Activewear Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 14th. Shareholders of record on Thursday, August 20th will be paid a $0.249 dividend. The ex-dividend date is Thursday, August 20th. This represents a $1.00 annualized dividend and a yield of 1.7%. Gildan Activewear’s dividend payout ratio is currently 190.38%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Caisse de depot et placement du Quebec raised its position in shares of Gildan Activewear by 1,695.7% in the fourth quarter. Caisse de depot et placement du Quebec now owns 6,240,014 shares of the textile maker’s stock worth $390,539,000 after buying an additional 5,892,514 shares in the last quarter. Norges Bank bought a new position in Gildan Activewear in the 4th quarter worth about $151,018,000. Mackenzie Financial Corp increased its stake in Gildan Activewear by 41.2% in the 4th quarter. Mackenzie Financial Corp now owns 6,860,108 shares of the textile maker’s stock worth $429,382,000 after acquiring an additional 2,001,279 shares during the last quarter. Brandes Investment Partners LP purchased a new stake in shares of Gildan Activewear in the 4th quarter valued at about $99,870,000. Finally, Vanguard Group Inc. boosted its position in shares of Gildan Activewear by 26.0% during the 4th quarter. Vanguard Group Inc. now owns 7,566,962 shares of the textile maker’s stock valued at $472,964,000 after acquiring an additional 1,561,729 shares during the last quarter. 82.83% of the stock is currently owned by hedge funds and other institutional investors.

Gildan Activewear Company Profile

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.