Gildan Activewear (NYSE:GIL) Price Target Raised to $69.00 at UBS Group

Gildan Activewear (NYSE:GIL) (TSE:GIL) had its price target hoisted by UBS Group from $60.00 to $69.00 in a research report released on Thursday,Benzinga reports. UBS Group currently has a buy rating on the textile maker’s stock.

A number of other brokerages also recently weighed in on GIL. Citigroup boosted their target price on Gildan Activewear from $54.00 to $59.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. CIBC increased their target price on Gildan Activewear from $48.00 to $56.00 and gave the stock an “outperform” rating in a research 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 stock a “buy” rating in a report on Monday, December 2nd. Stifel Nicolaus upped their price target on shares of Gildan Activewear from $54.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, Canaccord Genuity Group increased their target price on Gildan Activewear from $52.00 to $53.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $60.00.

Gildan Activewear Stock Up 2.2 %

Shares of GIL opened at $55.09 on Thursday. The company has a market capitalization of $8.38 billion, a PE ratio of 22.04, a PEG ratio of 1.74 and a beta of 1.41. Gildan Activewear has a 12 month low of $32.23 and a 12 month high of $55.12. The stock’s 50-day moving average price is $49.47 and its two-hundred day moving average price is $47.54. The company has a current ratio of 2.31, a quick ratio of 0.98 and a debt-to-equity ratio of 0.81.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its quarterly earnings data on Wednesday, February 19th. The textile maker reported $0.83 earnings per share for the quarter, missing the consensus estimate of $1.13 by ($0.30). Gildan Activewear had a return on equity of 27.49% and a net margin of 12.26%. The business had revenue of $822.00 million during the quarter, compared to the consensus estimate of $805.75 million. During the same period last year, the business posted $0.75 earnings per share. The business’s revenue was up 5.0% on a year-over-year basis. On average, analysts anticipate that Gildan Activewear will post 3.44 EPS for the current year.

Gildan Activewear Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Wednesday, March 12th will be paid a dividend of $0.226 per share. This is an increase from Gildan Activewear’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.64%. Gildan Activewear’s dividend payout ratio (DPR) is currently 32.80%.

Hedge Funds Weigh In On Gildan Activewear

A number of institutional investors and hedge funds have recently made changes to their positions in GIL. Public Employees Retirement System of Ohio increased its position in shares of Gildan Activewear by 262.4% during the fourth quarter. Public Employees Retirement System of Ohio now owns 45,451 shares of the textile maker’s stock valued at $2,138,000 after acquiring an additional 32,911 shares in the last quarter. Vident Advisory LLC purchased a new position in shares of Gildan Activewear during the 4th quarter worth $402,000. Virtus Investment Advisers Inc. purchased a new position in shares of Gildan Activewear during the 4th quarter valued at $173,000. Twinbeech Capital LP purchased a new position in shares of Gildan Activewear in the fourth quarter valued at about $206,000. Finally, Tidal Investments LLC boosted its stake in Gildan Activewear by 23.5% in the 4th quarter. Tidal Investments LLC now owns 14,712 shares of the textile maker’s stock worth $692,000 after purchasing an additional 2,798 shares during the period. Institutional investors own 82.83% of the company’s stock.

Gildan Activewear Company Profile

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.