Gildan Activewear, Inc. (NYSE:GIL) Given Average Recommendation of “Moderate Buy” by Brokerages

Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) has received a consensus recommendation of “Moderate Buy” from the fifteen analysts that are presently covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $80.00.

Several research firms have recently commented on GIL. Citigroup reaffirmed a “neutral” rating on shares of Gildan Activewear in a research report on Tuesday, August 4th. UBS Group boosted their price target on Gildan Activewear from $110.00 to $111.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Royal Bank Of Canada reiterated an “outperform” rating and set a $82.00 price objective (up from $78.00) on shares of Gildan Activewear in a research report on Friday, July 31st. Scotiabank reissued a “sector outperform” rating and set a $67.00 target price (up from $65.00) on shares of Gildan Activewear in a report on Friday, July 31st. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Gildan Activewear in a research report on Thursday, August 13th.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in GIL. Caisse de depot et placement du Quebec bought a new position in Gildan Activewear in the 2nd quarter valued at approximately $601,931,000. Jupiter Topco LLC bought a new stake in shares of Gildan Activewear during the second quarter worth $573,363,000. The Manufacturers Life Insurance Company acquired a new position in shares of Gildan Activewear during the second quarter worth $234,764,000. Norges Bank bought a new position in shares of Gildan Activewear in the 4th quarter valued at $151,018,000. Finally, Mackenzie Financial Corp boosted its holdings in shares of Gildan Activewear by 41.2% during the 4th quarter. Mackenzie Financial Corp now owns 6,860,108 shares of the textile maker’s stock valued at $429,382,000 after acquiring an additional 2,001,279 shares in the last quarter. 82.83% of the stock is currently owned by institutional investors and hedge funds.

Gildan Activewear Trading Down 1.8%

Shares of Gildan Activewear stock opened at $52.16 on Tuesday. The stock has a market cap of $9.66 billion, a P/E ratio of 100.31 and a beta of 1.11. The company has a quick ratio of 1.01, a current ratio of 1.93 and a debt-to-equity ratio of 1.15. Gildan Activewear has a 12-month low of $46.55 and a 12-month high of $73.69. The business’s 50 day moving average is $53.80 and its 200-day moving average is $57.88.

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

Gildan Activewear Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Shareholders of record on Thursday, August 20th will be paid a dividend of $0.249 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Thursday, August 20th. Gildan Activewear’s dividend payout ratio is presently 192.31%.

Gildan Activewear Company Profile

Gildan Activewear Inc (NYSE:GIL) is a vertically integrated manufacturer and wholesaler of branded basic apparel, including activewear, socks, hosiery and underwear. Headquartered in Montreal, Quebec, the company produces a wide range of products such as T-shirts, fleece garments, sport shirts, performance wear, and shapewear under its Gildan, Anvil, Comfort Colors, Gold Toe, Peds and Silks brands. Leveraging its in-house knitting, dyeing, cut-and-sew and finishing operations, Gildan supplies blank apparel to screen printers, promotional product distributors and major retailers around the world.

Since its founding in 1984 by Glenn J.