Gildan Activewear, Inc. (GIL) Receives $31.67 Average Price Target from Analysts
Shares of Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) have received an average rating of “Hold” from the ten ratings firms that are covering the stock, MarketBeat Ratings reports. Eight research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $31.67.
Several research analysts have issued reports on GIL shares. Zacks Investment Research upgraded shares of Gildan Activewear from a “hold” rating to a “buy” rating and set a $34.00 price target for the company in a report on Wednesday, August 2nd. BMO Capital Markets restated a “buy” rating and set a $34.00 price target (up previously from $32.00) on shares of Gildan Activewear in a report on Friday, August 4th. National Bank Financial lowered shares of Gildan Activewear from an “outperform” rating to a “sector perform” rating in a report on Friday, August 4th. Finally, TD Securities lowered shares of Gildan Activewear from a “buy” rating to a “hold” rating and raised their price target for the stock from $32.00 to $33.00 in a report on Friday, August 4th.
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Large investors have recently added to or reduced their stakes in the company. Commonwealth Bank of Australia increased its stake in shares of Gildan Activewear by 9.7% in the 2nd quarter. Commonwealth Bank of Australia now owns 3,414 shares of the textile maker’s stock valued at $103,000 after acquiring an additional 303 shares in the last quarter. DekaBank Deutsche Girozentrale increased its stake in shares of Gildan Activewear by 133.7% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 3,475 shares of the textile maker’s stock valued at $106,000 after acquiring an additional 1,988 shares in the last quarter. Global X Management Co. LLC increased its stake in shares of Gildan Activewear by 33.1% in the 2nd quarter. Global X Management Co. LLC now owns 3,591 shares of the textile maker’s stock valued at $110,000 after acquiring an additional 893 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Gildan Activewear by 43.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,968 shares of the textile maker’s stock valued at $107,000 after acquiring an additional 1,198 shares in the last quarter. Finally, Boston Private Wealth LLC bought a new stake in shares of Gildan Activewear in the 3rd quarter valued at $201,000. Institutional investors own 72.15% of the company’s stock.
Gildan Activewear (GIL) traded up $0.07 during trading on Monday, reaching $31.37. 362,300 shares of the company’s stock traded hands, compared to its average volume of 547,434. The company has a current ratio of 5.13, a quick ratio of 1.72 and a debt-to-equity ratio of 0.34. Gildan Activewear has a 52-week low of $23.55 and a 52-week high of $32.15. The company has a market cap of $6,867.69, a price-to-earnings ratio of 18.09, a price-to-earnings-growth ratio of 1.35 and a beta of 0.74.
Gildan Activewear (NYSE:GIL) (TSE:GIL) last released its quarterly earnings results on Thursday, November 2nd. The textile maker reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.02. Gildan Activewear had a net margin of 14.21% and a return on equity of 18.80%. The firm had revenue of $716.40 million during the quarter, compared to analyst estimates of $748.86 million. During the same quarter last year, the business earned $0.50 EPS. The company’s revenue was up .2% compared to the same quarter last year. equities research analysts expect that Gildan Activewear will post 1.71 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 11th. Stockholders of record on Thursday, November 16th will be paid a $0.094 dividend. The ex-dividend date is Wednesday, November 15th. This represents a $0.38 annualized dividend and a dividend yield of 1.20%. Gildan Activewear’s dividend payout ratio is currently 22.02%.
Gildan Activewear announced that its board has authorized a stock repurchase plan on Thursday, November 2nd that authorizes the company to repurchase 4,600,000 shares. This repurchase authorization authorizes the textile maker to buy shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.
About Gildan Activewear
Gildan Activewear Inc is a manufacturer and marketer of branded basic family apparel, including T-shirts, fleece, sport shirts, underwear, socks, hosiery and shapewear. The Company operates through two segments: Printwear and Branded Apparel. The Printwear segment designs, manufactures, sources, markets, and distributes undecorated activewear products.
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