Gildan Activewear Inc. (NYSE:GIL) Given Average Rating of "Buy" by Brokerages

Gildan Activewear Inc. (NYSE:GIL - Get Free Report) TSE: GIL has earned an average rating of "Buy" from the eleven brokerages that are currently covering the company, MarketBeat Ratings reports. Nine analysts have rated the stock with a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $57.91.

Several brokerages recently commented on GIL. Citigroup lifted their target price on shares of Gildan Activewear from $59.00 to $62.00 and gave the stock a "buy" rating in a report on Thursday, February 20th. Canaccord Genuity Group boosted their price objective on shares of Gildan Activewear from $53.00 to $58.00 and gave the stock a "buy" rating in a report on Thursday, February 20th. UBS Group boosted their price objective on shares of Gildan Activewear from $60.00 to $69.00 and gave the stock a "buy" rating in a report on Thursday, February 20th. Stifel Nicolaus boosted their price objective on shares of Gildan Activewear from $60.00 to $65.00 and gave the stock a "buy" rating in a report on Thursday, February 20th. Finally, Scotiabank upgraded shares of Gildan Activewear to a "strong-buy" rating and set a $55.00 price objective on the stock in a report on Wednesday, May 28th.

Gildan Activewear Stock Performance

Shares of GIL opened at $47.86 on Friday. The company has a market capitalization of $7.23 billion, a PE ratio of 19.14, a price-to-earnings-growth ratio of 1.76 and a beta of 1.20. Gildan Activewear has a one year low of $36.91 and a one year high of $55.39. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.22 and a quick ratio of 0.98. The company's fifty day moving average price is $45.09 and its 200 day moving average price is $47.77.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last announced its earnings results on Tuesday, April 29th. The textile maker reported $0.59 EPS for the quarter, topping the consensus estimate of $0.57 by $0.02. The firm had revenue of $711.70 million for the quarter, compared to the consensus estimate of $715.29 million. Gildan Activewear had a net margin of 12.26% and a return on equity of 28.80%. The business's quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.59 EPS. As a group, analysts expect that Gildan Activewear will post 3.48 earnings per share for the current year.

Gildan Activewear Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Tuesday, May 20th will be given a dividend of $0.226 per share. The ex-dividend date is Tuesday, May 20th. This represents a $0.90 annualized dividend and a dividend yield of 1.89%. Gildan Activewear's dividend payout ratio (DPR) is currently 34.75%.

Institutional Trading of Gildan Activewear

Institutional investors have recently made changes to their positions in the business. Plato Investment Management Ltd acquired a new position in Gildan Activewear in the fourth quarter valued at about $28,000. Olde Wealth Management LLC acquired a new position in Gildan Activewear in the first quarter valued at about $29,000. Twin Tree Management LP acquired a new position in Gildan Activewear in the first quarter valued at about $29,000. Versant Capital Management Inc boosted its position in Gildan Activewear by 510.7% in the first quarter. Versant Capital Management Inc now owns 745 shares of the textile maker's stock valued at $33,000 after buying an additional 623 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in Gildan Activewear by 4,323.5% in the first quarter. GAMMA Investing LLC now owns 752 shares of the textile maker's stock valued at $33,000 after buying an additional 735 shares in the last quarter. 82.83% of the stock is currently owned by institutional investors and hedge funds.

Gildan Activewear Company Profile

Gildan Activewear Inc manufactures and sells various apparel products in the United States, North America, Europe, Asia-Pacific, and Latin America. It provides various activewear products, including T-shirts, fleece tops and bottoms, and sports shirts under the Gildan, Gildan Performance, Gildan Hammer, Glidan Softstyle, Gildan Heavy Cotton, Gildan Ultra Cotton, Gildan DryBlend, Gildan HeavyBlend, Comfort Colors, and American Apparel brands.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.