Shares of Gildan Activewear Inc (NYSE:GIL) (TSE:GIL) have received an average recommendation of “Buy” from the eleven brokerages that are covering the stock, MarketBeat reports. Four equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $36.60.
A number of equities analysts have recently issued reports on the company. Zacks Investment Research raised Gildan Activewear from a “sell” rating to a “hold” rating in a research note on Tuesday, August 7th. TD Securities increased their target price on Gildan Activewear from $35.00 to $36.00 and gave the stock a “buy” rating in a research note on Friday, August 3rd. Desjardins downgraded Gildan Activewear from a “buy” rating to a “hold” rating in a research note on Friday, August 3rd. They noted that the move was a valuation call. ValuEngine raised Gildan Activewear from a “sell” rating to a “hold” rating in a research note on Monday, September 17th. Finally, TheStreet downgraded Gildan Activewear from a “b” rating to a “c+” rating in a research note on Thursday, November 1st.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Global X Management Co LLC increased its stake in Gildan Activewear by 145.3% in the 2nd quarter. Global X Management Co LLC now owns 6,390 shares of the textile maker’s stock valued at $180,000 after purchasing an additional 3,785 shares in the last quarter. Lester Murray Antman dba SimplyRich purchased a new position in Gildan Activewear in the 2nd quarter valued at approximately $205,000. Allianz Asset Management GmbH purchased a new position in Gildan Activewear in the 1st quarter valued at approximately $208,000. Prescott Group Capital Management L.L.C. purchased a new position in Gildan Activewear in the 3rd quarter valued at approximately $213,000. Finally, Jane Street Group LLC purchased a new position in Gildan Activewear in the 2nd quarter valued at approximately $221,000. 70.76% of the stock is owned by hedge funds and other institutional investors.
GIL traded down $0.45 on Monday, hitting $31.64. 355,508 shares of the company traded hands, compared to its average volume of 534,247. The company has a market cap of $6.55 billion, a PE ratio of 18.40, a P/E/G ratio of 1.43 and a beta of 0.72. Gildan Activewear has a 12-month low of $25.33 and a 12-month high of $34.19. The company has a quick ratio of 1.79, a current ratio of 4.94 and a debt-to-equity ratio of 0.45.
Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued its earnings results on Thursday, November 1st. The textile maker reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.01. The business had revenue of $754.40 million during the quarter, compared to the consensus estimate of $759.15 million. Gildan Activewear had a return on equity of 18.80% and a net margin of 12.28%. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.53 EPS. As a group, sell-side analysts expect that Gildan Activewear will post 1.86 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Thursday, November 15th will be paid a $0.085 dividend. This represents a $0.34 annualized dividend and a yield of 1.07%. The ex-dividend date of this dividend is Wednesday, November 14th. Gildan Activewear’s payout ratio is currently 26.16%.
Gildan Activewear Company Profile
Gildan Activewear Inc manufactures and sells a range of apparel products in the United States, Canada, Mexico, Europe, the Asia-Pacific, and Latin America. It operates in two segments, Printwear and Branded Apparel. The company manufactures and markets active wear products, including T-shirts, fleece tops and bottoms, and sport shirts under Gildan, Gildan Performance, Gildan Platinum, Gildan Hammer, Smart Basics, Comfort Colors, American Apparel, Anvil, Alstyle, Gold Toe, and Mossy Oak brands.
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