TD Securities Forecasts Strong Price Appreciation for Gildan Activewear (NYSE:GIL) Stock

Gildan Activewear (NYSE:GIL) (TSE:GIL) had its price target raised by TD Securities from $62.00 to $65.00 in a research report sent to investors on Thursday,BayStreet.CA reports. TD Securities currently has a buy rating on the textile maker’s stock.

A number of other equities analysts have also recently issued reports on GIL. BMO Capital Markets lifted their target price on shares of Gildan Activewear from $58.00 to $64.00 and gave the stock an “outperform” rating in a research report on Thursday. Stifel Nicolaus upped their target price on Gildan Activewear from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday. CIBC increased their target price on Gildan Activewear from $56.00 to $60.00 and gave the company an “outperform” rating in a report on Thursday. Citigroup boosted their price target on Gildan Activewear from $59.00 to $62.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Canaccord Genuity Group increased their price objective on Gildan Activewear from $53.00 to $58.00 and gave the company a “buy” rating in a research note on Thursday. Nine research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $60.00.

Gildan Activewear Stock Performance

GIL opened at $55.09 on Thursday. Gildan Activewear has a 1-year low of $32.23 and a 1-year high of $55.12. The stock has a market cap of $8.38 billion, a P/E ratio of 21.78, a P/E/G ratio of 1.71 and a beta of 1.41. The stock’s 50 day simple moving average is $49.47 and its 200 day simple moving average is $47.54. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.31 and a quick ratio of 0.98.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its earnings results 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). The firm had revenue of $822.00 million during the quarter, compared to analyst estimates of $805.75 million. Gildan Activewear had a net margin of 13.06% and a return on equity of 26.88%. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same period last year, the company posted $0.75 EPS. As a group, equities analysts anticipate that Gildan Activewear will post 2.97 EPS for the current fiscal year.

Gildan Activewear Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Wednesday, March 12th will be paid a $0.226 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 1.64%. This is a positive change from Gildan Activewear’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Wednesday, March 12th. Gildan Activewear’s dividend payout ratio (DPR) is presently 32.41%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Public Employees Retirement System of Ohio increased its position in 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 worth $2,138,000 after purchasing an additional 32,911 shares during the last quarter. Vident Advisory LLC acquired a new stake 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 in the 4th quarter worth $173,000. Twinbeech Capital LP acquired a new position in Gildan Activewear in the fourth quarter valued at $206,000. Finally, Tidal Investments LLC grew its position in Gildan Activewear by 23.5% during the fourth quarter. Tidal Investments LLC now owns 14,712 shares of the textile maker’s stock valued at $692,000 after acquiring an additional 2,798 shares during the period. Institutional investors and hedge funds 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.