Gildan Activewear, Inc. (NYSE:GIL) Stock Has Consensus Price Target of $76.50 According to Analysts

Shares of Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) have been assigned a consensus rating of “Moderate Buy” from the sixteen analysts that are currently covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation and thirteen have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $76.50.

Several equities research analysts recently weighed in on GIL shares. Citigroup reiterated a “neutral” rating on shares of Gildan Activewear in a research note on Tuesday, August 4th. TD lowered their price target on Gildan Activewear from $80.00 to $54.00 and set a “buy” rating on the stock in a research note on Thursday, September 24th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Gildan Activewear in a report on Thursday, August 13th. UBS Group upped their price target on Gildan Activewear from $110.00 to $111.00 and gave the company a “buy” rating in a report on Friday, July 31st. Finally, Scotiabank reiterated a “sector outperform” rating and issued a $67.00 price objective (up from $65.00) on shares of Gildan Activewear in a research report on Friday, July 31st.

Institutional Investors Weigh In On Gildan Activewear

A number of institutional investors have recently bought and sold shares of the business. Caisse de depot et placement du Quebec bought a new position in shares of Gildan Activewear during the 2nd quarter worth about $601,931,000. Jupiter Topco LLC bought a new position in Gildan Activewear during the second quarter worth about $573,363,000. Janus Henderson Group PLC boosted its holdings in Gildan Activewear by 0.9% during the first quarter. Janus Henderson Group PLC now owns 10,593,203 shares of the textile maker’s stock valued at $589,508,000 after purchasing an additional 98,134 shares in the last quarter. Royal Bank of Canada grew its stake in shares of Gildan Activewear by 20.9% in the 1st quarter. Royal Bank of Canada now owns 6,911,589 shares of the textile maker’s stock valued at $384,629,000 after purchasing an additional 1,193,718 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Gildan Activewear by 15.7% during the 1st quarter. The Manufacturers Life Insurance Company now owns 6,706,078 shares of the textile maker’s stock worth $373,122,000 after buying an additional 909,001 shares during the period. Institutional investors and hedge funds own 82.83% of the company’s stock.

Gildan Activewear Trading Down 0.4%

Shares of GIL stock opened at $42.62 on Friday. Gildan Activewear has a 1 year low of $39.93 and a 1 year high of $73.69. The firm’s fifty day simple moving average is $51.59 and its 200 day simple moving average is $54.65. The firm has a market capitalization of $7.89 billion, a P/E ratio of 81.97 and a beta of 1.08. The company has a current ratio of 1.93, a quick ratio of 1.01 and a debt-to-equity ratio of 1.15.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued its quarterly earnings results on Thursday, July 30th. The textile maker reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.17. The firm had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.61 billion. Gildan Activewear had a net margin of 1.28% and a return on equity of 21.03%. The business’s revenue was up 72.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.97 EPS. As a group, sell-side analysts predict that Gildan Activewear will post 4.67 EPS for the current year.

Gildan Activewear Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 14th. Investors of record on Thursday, August 20th were given a $0.2490 dividend. This represents a $1.00 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Thursday, August 20th. Gildan Activewear’s dividend payout ratio (DPR) is 192.31%.

About Gildan Activewear

Gildan Activewear Inc is a Canadian apparel manufacturer headquartered in Montreal, Quebec. The company produces basic everyday apparel, including T-shirts, fleece garments, underwear, socks and hosiery, for wholesalers, retailers, screen printers, brands and consumers.

Its portfolio includes the Gildan, American Apparel, Comfort Colors and Gold Toe brands, along with other product lines serving the activewear, casualwear and innerwear markets. Gildan also manufactures private-label and co-branded products for customers in several apparel categories.

Founded in 1984 by brothers Glenn and Greg Chamandy, Gildan has developed a vertically integrated manufacturing model that covers key stages from textile production through finished garments.