Gildan Activewear (NYSE:GIL) Given New $60.00 Price Target at Stifel Nicolaus

Gildan Activewear (NYSE:GIL) (TSE:GIL) had its price objective boosted by Stifel Nicolaus from $54.00 to $60.00 in a report issued on Friday morning, BayStreet.CA reports. Stifel Nicolaus currently has a buy rating on the textile maker’s stock.

A number of other equities research analysts have also weighed in on the company. Citigroup boosted their target price on Gildan Activewear from $54.00 to $59.00 and gave the company a “buy” rating in a research note on Friday. Canaccord Genuity Group boosted their price objective on Gildan Activewear from $52.00 to $53.00 and gave the company a “buy” rating in a research report on Friday. BMO Capital Markets raised their target price on shares of Gildan Activewear from $47.00 to $58.00 and gave the stock an “outperform” rating in a report on Friday. CIBC upped their price target on shares of Gildan Activewear from $48.00 to $56.00 and gave the company an “outperform” rating in a report on Friday. Finally, TD Securities raised their price target on shares of Gildan Activewear from $56.00 to $58.00 and gave the stock a “buy” rating in a report on Friday. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $50.85.

Gildan Activewear Price Performance

Shares of Gildan Activewear stock opened at $49.12 on Friday. The firm has a market capitalization of $7.71 billion, a PE ratio of 19.42, a price-to-earnings-growth ratio of 1.85 and a beta of 1.44. The company has a current ratio of 2.35, a quick ratio of 0.97 and a debt-to-equity ratio of 0.55. Gildan Activewear has a 12 month low of $30.68 and a 12 month high of $50.12. The business’s 50-day moving average price is $46.56 and its 200-day moving average price is $41.04.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last announced its quarterly earnings data on Thursday, October 31st. The textile maker reported $0.85 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.85. Gildan Activewear had a net margin of 13.06% and a return on equity of 25.66%. The company had revenue of $891.10 million during the quarter, compared to analysts’ expectations of $882.85 million. During the same quarter in the prior year, the company earned $0.74 EPS. The firm’s revenue was up 2.4% on a year-over-year basis. Sell-side analysts forecast that Gildan Activewear will post 2.93 EPS for the current fiscal year.

Gildan Activewear Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Thursday, November 21st will be given a dividend of $0.152 per share. This represents a $0.61 annualized dividend and a dividend yield of 1.24%. The ex-dividend date of this dividend is Thursday, November 21st. Gildan Activewear’s dividend payout ratio is currently 32.41%.

Institutional Trading of Gildan Activewear

Institutional investors and hedge funds have recently bought and sold shares of the stock. Fortis Group Advisors LLC grew its holdings in shares of Gildan Activewear by 3.9% during the 3rd quarter. Fortis Group Advisors LLC now owns 6,601 shares of the textile maker’s stock worth $311,000 after acquiring an additional 246 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of Gildan Activewear by 16.9% during the first quarter. EverSource Wealth Advisors LLC now owns 1,893 shares of the textile maker’s stock valued at $66,000 after purchasing an additional 274 shares in the last quarter. Aristides Capital LLC grew its stake in Gildan Activewear by 4.3% in the second quarter. Aristides Capital LLC now owns 7,617 shares of the textile maker’s stock worth $289,000 after purchasing an additional 314 shares during the period. CWM LLC raised its holdings in Gildan Activewear by 23.0% in the third quarter. CWM LLC now owns 1,698 shares of the textile maker’s stock worth $80,000 after purchasing an additional 318 shares in the last quarter. Finally, Blue Trust Inc. boosted its holdings in shares of Gildan Activewear by 96.1% during the 3rd quarter. Blue Trust Inc. now owns 810 shares of the textile maker’s stock valued at $38,000 after buying an additional 397 shares in the last quarter. 82.83% of the stock is currently owned by hedge funds and other institutional investors.

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.