Gildan Activewear (NYSE:GIL) Rating Increased to Buy at UBS Group

by · The Cerbat Gem

UBS Group upgraded shares of Gildan Activewear (NYSE:GIL – Free Report) (TSE:GIL) from a neutral rating to a buy rating in a research note released on Friday, MarketBeat.com reports. The firm currently has $60.00 price objective on the textile maker’s stock, up from their prior price objective of $50.00.

Other analysts have also recently issued reports about the company. Citigroup upped their price objective on Gildan Activewear from $54.00 to $59.00 and gave the stock a “buy” rating in a report on Friday, November 1st. TD Securities upped their price target on shares of Gildan Activewear from $58.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, December 2nd. BMO Capital Markets lifted their price objective on shares of Gildan Activewear from $47.00 to $58.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Stifel Nicolaus upped 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. Finally, CIBC increased 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, November 1st. Ten equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $53.35.

Read Our Latest Research Report on Gildan Activewear

Gildan Activewear Price Performance

GIL stock opened at $48.24 on Friday. The company has a market capitalization of $7.38 billion, a PE ratio of 19.07, a price-to-earnings-growth ratio of 1.82 and a beta of 1.41. The company’s fifty day moving average price is $48.30 and its 200-day moving average price is $45.12. Gildan Activewear has a one year low of $30.68 and a one year high of $50.60. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.98 and a current ratio of 2.31.

Gildan Activewear (NYSE:GIL – Get Free Report) (TSE:GIL) last released its quarterly earnings data on Thursday, October 31st. The textile maker reported $0.85 EPS for the quarter, meeting the consensus estimate of $0.85. The business had revenue of $891.10 million during the quarter, compared to the consensus estimate of $882.85 million. Gildan Activewear had a net margin of 13.06% and a return on equity of 26.88%. The business’s revenue was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.74 EPS. On average, equities analysts anticipate that Gildan Activewear will post 2.97 EPS for the current fiscal year.

Gildan Activewear Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Thursday, November 21st were given a dividend of $0.152 per share. The ex-dividend date was Thursday, November 21st. This represents a $0.61 annualized dividend and a dividend yield of 1.26%. Gildan Activewear’s dividend payout ratio (DPR) is presently 32.41%.

Institutional Investors Weigh In On Gildan Activewear

Several hedge funds and other institutional investors have recently modified their holdings of GIL. Riverview Trust Co purchased a new stake in Gildan Activewear in the third quarter worth $29,000. Blue Trust Inc. grew its holdings in shares of Gildan Activewear by 96.1% in the third quarter. Blue Trust Inc. now owns 810 shares of the textile maker’s stock worth $38,000 after purchasing an additional 397 shares during the last quarter. CWM LLC increased its stake in Gildan Activewear by 23.0% in the 3rd quarter. CWM LLC now owns 1,698 shares of the textile maker’s stock worth $80,000 after buying an additional 318 shares during the period. SYSTM Wealth Solutions LLC lifted its holdings in Gildan Activewear by 33.1% during the 2nd quarter. SYSTM Wealth Solutions LLC now owns 2,709 shares of the textile maker’s stock valued at $103,000 after buying an additional 674 shares in the last quarter. Finally, Laurus Investment Counsel Inc. purchased a new stake in Gildan Activewear in the 3rd quarter valued at about $203,000. 82.83% of the stock is currently owned by hedge funds and other institutional investors.

Gildan Activewear Company Profile

(Get Free Report)

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.

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