Gildan Activewear Inc (GIL) Receives $34.00 Consensus Target Price from Brokerages
Gildan Activewear Inc (NYSE:GIL) (TSE:GIL) has earned an average rating of “Hold” from the thirteen ratings firms that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $34.00.
A number of research firms have recently weighed in on GIL. Stifel Nicolaus set a $37.00 price objective on Gildan Activewear and gave the stock a “buy” rating in a research report on Friday, December 15th. Royal Bank of Canada reissued a “hold” rating on shares of Gildan Activewear in a research report on Tuesday, November 7th. ValuEngine raised Gildan Activewear from a “hold” rating to a “buy” rating in a research report on Monday, February 5th. Goldman Sachs Group reissued a “buy” rating and issued a $37.00 price objective on shares of Gildan Activewear in a research report on Friday, December 8th. Finally, BMO Capital Markets cut Gildan Activewear from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $34.00 to $30.00 in a research report on Friday, November 3rd.
Gildan Activewear (NYSE GIL) traded up $0.02 during trading on Wednesday, hitting $28.78. The stock had a trading volume of 521,849 shares, compared to its average volume of 545,801. The company has a debt-to-equity ratio of 0.31, a current ratio of 5.06 and a quick ratio of 1.40. The firm has a market cap of $6,320.00, a PE ratio of 17.88, a price-to-earnings-growth ratio of 1.16 and a beta of 0.92. Gildan Activewear has a 52-week low of $25.38 and a 52-week high of $34.19.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 2nd. Investors of record on Thursday, March 8th will be paid a $0.112 dividend. This is a positive change from Gildan Activewear’s previous quarterly dividend of $0.09. The ex-dividend date is Wednesday, March 7th. This represents a $0.45 dividend on an annualized basis and a yield of 1.56%. Gildan Activewear’s dividend payout ratio (DPR) is 22.98%.
Gildan Activewear declared that its Board of Directors has initiated a share buyback program on Thursday, February 22nd that permits the company to repurchase 10,960,000 shares. This repurchase authorization permits the textile maker to reacquire shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
A number of hedge funds have recently modified their holdings of the stock. Grandeur Peak Global Advisors LLC raised its stake in Gildan Activewear by 8.7% in the 4th quarter. Grandeur Peak Global Advisors LLC now owns 340,888 shares of the textile maker’s stock worth $11,004,000 after acquiring an additional 27,423 shares during the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. raised its stake in Gildan Activewear by 67.2% in the 4th quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 10,700 shares of the textile maker’s stock worth $347,000 after acquiring an additional 4,300 shares during the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp raised its stake in Gildan Activewear by 25.8% in the 4th quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 884,900 shares of the textile maker’s stock worth $35,936,000 after acquiring an additional 181,700 shares during the last quarter. Gotham Asset Management LLC raised its stake in Gildan Activewear by 95.8% in the 4th quarter. Gotham Asset Management LLC now owns 285,242 shares of the textile maker’s stock worth $9,213,000 after acquiring an additional 139,577 shares during the last quarter. Finally, Jane Street Group LLC raised its stake in Gildan Activewear by 27.3% in the 4th quarter. Jane Street Group LLC now owns 30,013 shares of the textile maker’s stock worth $970,000 after acquiring an additional 6,442 shares during the last quarter. Institutional investors own 68.19% of the company’s stock.
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About Gildan Activewear
Gildan Activewear Inc is a manufacturer and marketer of branded basic family apparel, including T-shirts, fleece, sport shirts, underwear, socks, hosiery and shapewear. The Company operates through two segments: Printwear and Branded Apparel. The Printwear segment designs, manufactures, sources, markets, and distributes undecorated activewear products.
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