Gildan Activewear Inc (NYSE:GIL) (TSE:GIL) has earned a consensus recommendation of “Buy” from the nine analysts that are presently covering the company, MarketBeat reports. Four investment analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $32.75.

A number of research firms have weighed in on GIL. Royal Bank of Canada raised their target price on shares of Gildan Activewear from $34.00 to $35.00 and gave the stock a “hold” rating in a research note on Thursday, May 2nd. ValuEngine lowered shares of Gildan Activewear from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Desjardins raised shares of Gildan Activewear from a “hold” rating to a “buy” rating in a research note on Friday, August 2nd. Zacks Investment Research raised shares of Gildan Activewear from a “hold” rating to a “buy” rating and set a $42.00 target price on the stock in a research note on Wednesday, August 7th. Finally, Citigroup raised their target price on shares of Gildan Activewear from $37.00 to $40.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd.

Several hedge funds have recently added to or reduced their stakes in GIL. Pzena Investment Management LLC raised its position in shares of Gildan Activewear by 87.2% during the 1st quarter. Pzena Investment Management LLC now owns 3,718,142 shares of the textile maker’s stock valued at $133,742,000 after buying an additional 1,732,215 shares during the period. FMR LLC raised its position in shares of Gildan Activewear by 19.3% during the 1st quarter. FMR LLC now owns 9,830,993 shares of the textile maker’s stock valued at $353,485,000 after buying an additional 1,589,389 shares during the period. The Manufacturers Life Insurance Company raised its position in shares of Gildan Activewear by 89.6% during the 1st quarter. The Manufacturers Life Insurance Company now owns 2,823,941 shares of the textile maker’s stock valued at $101,577,000 after buying an additional 1,334,579 shares during the period. JPMorgan Chase & Co. raised its position in shares of Gildan Activewear by 72.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 832,244 shares of the textile maker’s stock valued at $31,999,000 after buying an additional 349,750 shares during the period. Finally, APG Asset Management N.V. raised its position in shares of Gildan Activewear by 46.6% during the 2nd quarter. APG Asset Management N.V. now owns 1,068,000 shares of the textile maker’s stock valued at $36,373,000 after buying an additional 339,600 shares during the period. 68.62% of the stock is currently owned by hedge funds and other institutional investors.

GIL traded down $1.42 during trading on Wednesday, reaching $35.91. The company’s stock had a trading volume of 304,965 shares, compared to its average volume of 490,706. The company has a current ratio of 4.33, a quick ratio of 1.68 and a debt-to-equity ratio of 0.55. The stock has a fifty day simple moving average of $38.83. Gildan Activewear has a 1 year low of $28.11 and a 1 year high of $40.40. The company has a market capitalization of $7.46 billion, a P/E ratio of 19.31, a price-to-earnings-growth ratio of 1.32 and a beta of 0.83.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last released its earnings results on Thursday, August 1st. The textile maker reported $0.57 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.02. Gildan Activewear had a net margin of 10.14% and a return on equity of 18.48%. The business had revenue of $801.60 million for the quarter, compared to analyst estimates of $793.91 million. During the same period last year, the company posted $0.52 EPS. The business’s revenue was up 4.9% on a year-over-year basis. On average, equities analysts expect that Gildan Activewear will post 1.98 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, September 9th. Stockholders of record on Thursday, August 15th will be given a dividend of $0.236 per share. This represents a $0.94 annualized dividend and a dividend yield of 2.63%. The ex-dividend date of this dividend is Wednesday, August 14th. Gildan Activewear’s payout ratio is presently 29.03%.

About Gildan Activewear

Gildan Activewear Inc manufactures and sells a range of apparel products in North America, Europe, the Asia-Pacific, and Latin America. 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, Comfort Colors, American Apparel, Anvil, Alstyle, and Gold Toe brands.

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Analyst Recommendations for Gildan Activewear (NYSE:GIL)

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