TD Securities Cuts Gildan Activewear (NYSE:GIL) Price Target to $54.00

by · The Markets Daily

Gildan Activewear (NYSE:GIL – Free Report) (TSE:GIL) had its price target reduced by TD Securities from $80.00 to $54.00 in a research report released on Thursday,Benzinga reports. They currently have a buy rating on the textile maker’s stock.

Several other analysts also recently weighed in on the stock. Scotia lifted their price target on shares of Gildan Activewear from $65.00 to $67.00 and gave the company a “sector outperform” rating in a research note on Friday, July 31st. Scotiabank reiterated a “sector outperform” rating and issued a $67.00 target price (up from $65.00) on shares of Gildan Activewear in a report on Friday, July 31st. Weiss Ratings reissued a “hold (c)” rating on shares of Gildan Activewear in a research report on Thursday, August 13th. UBS Group lifted their price objective on Gildan Activewear from $110.00 to $111.00 and gave the company a “buy” rating in a report on Friday, July 31st. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $82.00 target price (up from $78.00) on shares of Gildan Activewear in a report on Friday, July 31st. Thirteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $76.50.

View Our Latest Report on Gildan Activewear

Gildan Activewear Trading Up 0.9%

GIL opened at $40.99 on Thursday. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.01 and a current ratio of 1.93. The stock’s 50 day moving average price is $52.26 and its 200-day moving average price is $55.08. Gildan Activewear has a one year low of $40.13 and a one year high of $73.69. The stock has a market cap of $7.59 billion, a price-to-earnings ratio of 78.84 and a beta of 1.08.

Gildan Activewear (NYSE:GIL – Get Free Report) (TSE:GIL) last issued its quarterly earnings results on Thursday, July 30th. The textile maker reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.17. Gildan Activewear had a return on equity of 21.03% and a net margin of 1.28%.The firm had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.61 billion. During the same period last year, the company earned $0.97 EPS. Gildan Activewear’s quarterly revenue was up 72.3% compared to the same quarter last year. On average, equities analysts forecast that Gildan Activewear will post 4.67 EPS for the current year.

Gildan Activewear Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 14th. Stockholders of record on Thursday, August 20th were issued a dividend of $0.2490 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend was Thursday, August 20th. Gildan Activewear’s dividend payout ratio (DPR) is presently 192.31%.

Institutional Trading of Gildan Activewear

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Islay Capital Management LLC acquired a new position in Gildan Activewear in the fourth quarter worth about $25,000. Larson Financial Group LLC boosted its holdings in Gildan Activewear by 3,516.7% during the fourth quarter. Larson Financial Group LLC now owns 434 shares of the textile maker’s stock valued at $27,000 after purchasing an additional 422 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its stake in shares of Gildan Activewear by 14,833.3% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 448 shares of the textile maker’s stock valued at $28,000 after purchasing an additional 445 shares during the period. Banque Cantonale Vaudoise acquired a new position in shares of Gildan Activewear in the 1st quarter worth approximately $42,000. Finally, IFP Advisors Inc raised its holdings in shares of Gildan Activewear by 435.5% in the 4th quarter. IFP Advisors Inc now owns 1,071 shares of the textile maker’s stock worth $67,000 after buying an additional 871 shares in the last quarter. Institutional investors own 82.83% of the company’s stock.

Gildan Activewear Company Profile

(Get Free Report)

Gildan Activewear Inc is a Canadian apparel manufacturer headquartered in Montreal, Quebec. Founded in 1984, the company produces and sells everyday basic apparel for consumers, retailers and the decorated-apparel market. Its products include T-shirts, fleece, underwear, socks, hosiery and other activewear and casualwear items.

Gildan markets products through a portfolio of brands that includes Gildan, American Apparel, Comfort Colors, Gold Toe and Peds. The company primarily serves wholesale distributors, screen printers and other apparel decorators, as well as retailers and private-label customers.

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