Canaccord Genuity Group Boosts Gildan Activewear (NYSE:GIL) Price Target to $58.00

Gildan Activewear (NYSE:GIL) (TSE:GIL) had its price objective raised by Canaccord Genuity Group from $53.00 to $58.00 in a research note published on Thursday,BayStreet.CA reports. Canaccord Genuity Group currently has a buy rating on the textile maker’s stock.

A number of other analysts also recently weighed in on the stock. CIBC increased their target price on shares of Gildan Activewear from $56.00 to $60.00 and gave the company an “outperform” rating in a research report on Thursday. TD Securities lifted their target price on shares of Gildan Activewear from $58.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday, December 2nd. UBS Group upped their price target on shares of Gildan Activewear from $60.00 to $69.00 and gave the company a “buy” rating in a research report on Thursday. Citigroup boosted their price objective on Gildan Activewear from $59.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Stifel Nicolaus raised their target price on Gildan Activewear from $54.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $60.00.

Gildan Activewear Trading Up 2.2 %

Shares of NYSE GIL opened at $55.09 on Thursday. The firm has a 50 day moving average price of $49.47 and a two-hundred day moving average price of $47.54. The stock has a market cap of $8.38 billion, a P/E ratio of 21.78, a price-to-earnings-growth ratio of 1.71 and a beta of 1.41. Gildan Activewear has a 52-week low of $32.23 and a 52-week high of $55.12. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.98 and a current ratio of 2.31.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its quarterly earnings data on Wednesday, February 19th. The textile maker reported $0.83 earnings per share for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.30). The company had revenue of $822.00 million during the quarter, compared to analyst estimates of $805.75 million. Gildan Activewear had a net margin of 13.06% and a return on equity of 26.88%. The business’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.75 earnings per share. As a group, equities analysts forecast that Gildan Activewear will post 2.97 EPS for the current year.

Gildan Activewear Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Wednesday, March 12th will be issued a dividend of $0.226 per share. This is an increase from Gildan Activewear’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $0.90 annualized dividend and a dividend yield of 1.64%. Gildan Activewear’s payout ratio is currently 32.41%.

Hedge Funds Weigh In On Gildan Activewear

Large investors have recently modified their holdings of the company. Syon Capital LLC grew its holdings in shares of Gildan Activewear by 3.9% during the fourth quarter. Syon Capital LLC now owns 6,524 shares of the textile maker’s stock valued at $307,000 after buying an additional 242 shares during the last quarter. CWM LLC lifted its position in Gildan Activewear by 23.0% in the 3rd quarter. CWM LLC now owns 1,698 shares of the textile maker’s stock valued at $80,000 after acquiring an additional 318 shares in the last quarter. Fifth Third Bancorp lifted its position in Gildan Activewear by 61.8% in the 4th quarter. Fifth Third Bancorp now owns 872 shares of the textile maker’s stock valued at $41,000 after acquiring an additional 333 shares in the last quarter. Cooper Financial Group increased its holdings in Gildan Activewear by 2.1% during the 4th quarter. Cooper Financial Group now owns 16,268 shares of the textile maker’s stock worth $765,000 after purchasing an additional 340 shares in the last quarter. Finally, Huntington National Bank raised its stake in shares of Gildan Activewear by 16.4% in the fourth quarter. Huntington National Bank now owns 2,803 shares of the textile maker’s stock worth $132,000 after purchasing an additional 395 shares during the last quarter. 82.83% of the stock is currently owned by institutional investors.

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.