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

Key Points

• Analysts maintain a positive outlook: Sixteen firms give Gildan Activewear a consensus “Moderate Buy” rating, with 13 buys and three holds. The average 12-month price target is $76.50 versus the reported share price of $40.99.
• Quarterly earnings beat expectations: Gildan reported earnings of $1.28 per share, exceeding the $1.11 consensus estimate, while revenue rose 72.3% year over year to $1.58 billion, slightly below forecasts.
• The company paid a quarterly dividend of $0.249 per share, equivalent to roughly $1.00 annually and a 2.4% yield. Institutional investors and hedge funds own 82.83% of the company’s stock.

Shares of Gildan Activewear, Inc. (NYSE:GIL - Get Free Report) TSE: GIL have earned an average rating of "Moderate Buy" from the sixteen research firms that are presently covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $76.50.

Several analysts have weighed in on the company. Stifel Nicolaus set a $83.00 price target on Gildan Activewear and gave the company a "buy" rating in a research note on Friday, July 31st. Scotia raised their price objective on Gildan Activewear from $65.00 to $67.00 and gave the stock a "sector outperform" rating in a research note on Friday, July 31st. TD decreased their target price on Gildan Activewear from $80.00 to $54.00 and set a "buy" rating for the company in a report on Thursday. Citigroup reiterated a "neutral" rating on shares of Gildan Activewear in a research report on Tuesday, August 4th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Gildan Activewear in a report on Thursday, August 13th.

Gildan Activewear Trading Up 0.9%

Shares of Gildan Activewear stock opened at $40.99 on Friday. 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 has a 12-month low of $40.13 and a 12-month high of $73.69. The firm has a market capitalization of $7.59 billion, a price-to-earnings ratio of 78.84 and a beta of 1.08. The firm's 50 day simple moving average is $52.26 and its two-hundred day simple moving average is $55.08.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last posted its quarterly earnings data on Thursday, July 30th. The textile maker reported $1.28 EPS for the quarter, topping the consensus estimate of $1.11 by $0.17. The business 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 for the quarter was up 72.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.97 earnings per share. Analysts predict that Gildan Activewear will post 4.67 EPS for the current year.

Gildan Activewear Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 14th. Stockholders of record on Thursday, August 20th were issued a $0.2490 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend was Thursday, August 20th. Gildan Activewear's dividend payout ratio is 192.31%.

Institutional Trading of Gildan Activewear

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Islay Capital Management LLC acquired a new position in Gildan Activewear during the fourth quarter valued at $25,000. Caitong International Asset Management Co. Ltd raised its stake in shares of Gildan Activewear by 14,833.3% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 448 shares of the textile maker's stock valued at $28,000 after buying an additional 445 shares during the last quarter. Banque Cantonale Vaudoise acquired a new position in shares of Gildan Activewear in the 1st quarter valued at about $42,000. IFP Advisors Inc lifted its holdings in shares of Gildan Activewear by 435.5% in the 4th quarter. IFP Advisors Inc now owns 1,071 shares of the textile maker's stock valued at $67,000 after buying an additional 871 shares during the period. Finally, Hara Capital LLC purchased a new stake in shares of Gildan Activewear in the second quarter worth about $57,000. Institutional investors and hedge funds own 82.83% of the company's stock.

Gildan Activewear Company Profile

Gildan Activewear Inc is a Canadian apparel manufacturer headquartered in Montreal, Quebec. Founded in 1984, the company produces and sells everyday basic apparel for consumers, retailers and the decorated-apparel market. Its products include T-shirts, fleece, underwear, socks, hosiery and other activewear and casualwear items.

Gildan markets products through a portfolio of brands that includes Gildan, American Apparel, Comfort Colors, Gold Toe and Peds. The company primarily serves wholesale distributors, screen printers and other apparel decorators, as well as retailers and private-label customers.

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