Gildan Activewear Inc. (GIL) PT Set at $31.00 by Canaccord Genuity
Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) has been assigned a $31.00 target price by analysts at Canaccord Genuity in a research note issued to investors on Monday. The brokerage presently has a a “buy” rating on the stock. Canaccord Genuity’s target price indicates a potential upside of 15.93% from the stock’s previous close.
A number of other brokerages have also issued reports on GIL. Zacks Investment Research raised shares of Gildan Activewear from a “hold” rating to a “buy” rating and set a $35.00 target price for the company in a research note on Thursday, July 21st. Scotiabank reissued an “outperform” rating and set a $44.00 target price on shares of Gildan Activewear in a research note on Thursday, July 28th. TD Securities reissued a “buy” rating and set a $36.00 target price on shares of Gildan Activewear in a research note on Thursday, July 28th. RBC Capital Markets reissued an “outperform” rating and set a $43.00 target price (down previously from $45.50) on shares of Gildan Activewear in a research note on Sunday, November 6th. Finally, BMO Capital Markets reissued a “buy” rating on shares of Gildan Activewear in a research note on Friday, November 4th. One analyst has rated the stock with a sell rating, three have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Gildan Activewear presently has a consensus rating of “Buy” and a consensus target price of $35.86.
Gildan Activewear (NYSE:GIL) opened at 26.74 on Monday. The firm has a 50-day moving average of $26.63 and a 200-day moving average of $28.89. Gildan Activewear has a 52-week low of $22.43 and a 52-week high of $32.20. The stock has a market capitalization of $6.20 billion, a PE ratio of 18.78 and a beta of 1.24.
Gildan Activewear (NYSE:GIL) last issued its earnings results on Thursday, November 3rd. The company reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by $0.01. The company had revenue of $715 million for the quarter, compared to analyst estimates of $723.97 million. Gildan Activewear had a net margin of 13.38% and a return on equity of 16.67%. The company’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period last year, the business earned $0.52 EPS. On average, equities analysts expect that Gildan Activewear will post $1.49 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 12th. Stockholders of record on Friday, November 18th will be issued a dividend of $0.078 per share. The ex-dividend date is Wednesday, November 16th. This represents a $0.31 annualized dividend and a dividend yield of 1.17%. Gildan Activewear’s payout ratio is 21.68%.
Hedge funds and other institutional investors have recently bought and sold shares of the company. DekaBank Deutsche Girozentrale increased its position in Gildan Activewear by 38.8% in the third quarter. DekaBank Deutsche Girozentrale now owns 4,025 shares of the company’s stock valued at $112,000 after buying an additional 1,125 shares during the last quarter. Compagnie Lombard Odier SCmA increased its position in Gildan Activewear by 9.7% in the third quarter. Compagnie Lombard Odier SCmA now owns 6,340 shares of the company’s stock valued at $177,000 after buying an additional 560 shares during the last quarter. AGF Investments Inc. increased its position in Gildan Activewear by 121.1% in the second quarter. AGF Investments Inc. now owns 6,414 shares of the company’s stock valued at $188,000 after buying an additional 3,513 shares during the last quarter. Heritage Wealth Advisors bought a new position in Gildan Activewear during the third quarter valued at about $205,000. Finally, Quantbot Technologies LP bought a new position in Gildan Activewear during the second quarter valued at about $211,000. Institutional investors own 73.41% of the company’s stock.
Gildan Activewear Company Profile
Gildan Activewear Inc is a manufacturer and marketer of branded basic family apparel. The Company’s segments include Printwear and Branded Apparel. It offers T-shirts, fleece, sport shirts, underwear, socks, hosiery and shapewear. It markets its products through approximately two main distribution channels.
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