Gildan Activewear (NYSE:GIL) Stock Price Expected to Rise, UBS Group Analyst Says

Gildan Activewear (NYSE:GIL) (TSE:GIL) had its target price raised by UBS Group from $60.00 to $69.00 in a report published on Thursday,Benzinga reports. UBS Group currently has a buy rating on the textile maker’s stock.

Other equities analysts have also issued reports about the stock. CIBC lifted their price objective on shares of Gildan Activewear from $48.00 to $56.00 and gave the company an “outperform” rating in a report on Friday, November 1st. TD Securities lifted their price objective 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. Canaccord Genuity Group lifted their price objective on shares of Gildan Activewear from $52.00 to $53.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Citigroup lifted their price objective on shares of Gildan Activewear from $54.00 to $59.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, Stifel Nicolaus boosted their target price on shares of Gildan Activewear from $54.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $60.00.

Gildan Activewear Stock Up 2.2 %

Shares of NYSE:GIL opened at $55.09 on Thursday. The company has a current ratio of 2.31, a quick ratio of 0.98 and a debt-to-equity ratio of 0.81. Gildan Activewear has a 12 month low of $32.23 and a 12 month high of $55.12. The company has a 50-day moving average price of $49.47 and a 200 day moving average price of $47.54. The company has a market cap of $8.38 billion, a price-to-earnings ratio of 22.04, a PEG ratio of 1.74 and a beta of 1.41.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last announced its quarterly earnings results on Wednesday, February 19th. The textile maker reported $0.83 EPS for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.30). The business had revenue of $822.00 million during the quarter, compared to the consensus estimate of $805.75 million. Gildan Activewear had a net margin of 12.26% and a return on equity of 27.49%. The firm’s revenue was up 5.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.75 EPS. As a group, equities research analysts predict that Gildan Activewear will post 3.44 earnings per share for the current year.

Gildan Activewear Increases Dividend

The business 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 $0.226 dividend. This is a positive change from Gildan Activewear’s previous quarterly dividend of $0.15. This represents a $0.90 annualized dividend and a dividend yield of 1.64%. The ex-dividend date is Wednesday, March 12th. Gildan Activewear’s dividend payout ratio is currently 32.80%.

Hedge Funds Weigh In On Gildan Activewear

Several large investors have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio lifted its holdings in shares of Gildan Activewear by 262.4% in the 4th quarter. Public Employees Retirement System of Ohio now owns 45,451 shares of the textile maker’s stock worth $2,138,000 after acquiring an additional 32,911 shares during the last quarter. Vident Advisory LLC acquired a new position in shares of Gildan Activewear in the 4th quarter worth approximately $402,000. Virtus Investment Advisers Inc. acquired a new position in shares of Gildan Activewear in the 4th quarter worth approximately $173,000. Twinbeech Capital LP acquired a new position in shares of Gildan Activewear in the 4th quarter worth approximately $206,000. Finally, Tidal Investments LLC lifted its holdings in shares of Gildan Activewear by 23.5% in the 4th quarter. Tidal Investments LLC now owns 14,712 shares of the textile maker’s stock worth $692,000 after acquiring an additional 2,798 shares during the last quarter. 82.83% of the stock is currently owned by institutional investors and hedge funds.

About Gildan Activewear

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.