Gildan Activewear Inc. (TSE:GIL) Receives C$64.00 Consensus Price Target from Brokerages

Shares of Gildan Activewear Inc. (TSE:GIL) (NYSE:GIL) have been assigned an average rating of “Buy” from the seven ratings firms that are covering the stock, Marketbeat.com reports. Four equities research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is C$64.00.

A number of brokerages have weighed in on GIL. Barclays upgraded Gildan Activewear to a “strong-buy” rating in a research note on Monday, April 28th. UBS Group upgraded shares of Gildan Activewear from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 10th. Desjardins lowered their price target on Gildan Activewear from C$87.00 to C$80.00 and set a “buy” rating on the stock in a research report on Wednesday, April 30th. Finally, National Bankshares cut their price objective on Gildan Activewear from C$83.00 to C$72.00 in a report on Monday, April 21st.

Gildan Activewear Trading Down 2.0 %

Shares of GIL stock opened at C$64.64 on Friday. The company has a debt-to-equity ratio of 101.26, a quick ratio of 0.87 and a current ratio of 2.31. The company has a market capitalization of C$7.02 billion, a price-to-earnings ratio of 17.33, a PEG ratio of 4.55 and a beta of 1.64. Gildan Activewear has a 52-week low of C$44.26 and a 52-week high of C$79.11. The company has a 50-day simple moving average of C$63.20 and a two-hundred day simple moving average of C$67.77.

Gildan Activewear (TSE:GIL) (NYSE:GIL) last released its earnings results on Wednesday, February 19th. The company reported C$0.83 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.82 by C$0.01. Gildan Activewear had a net margin of 13.05% and a return on equity of 23.10%. During the same quarter in the prior year, the company posted $0.75 earnings per share. Research analysts anticipate that Gildan Activewear will post 4.5460385 EPS for the current fiscal year.

Gildan Activewear Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 16th will be issued a $0.226 dividend. The ex-dividend date is Tuesday, May 20th. This represents a $0.90 dividend on an annualized basis and a yield of 1.40%. Gildan Activewear’s dividend payout ratio is presently 29.76%.

Insider Buying and Selling at Gildan Activewear

In other news, Senior Officer John Maness sold 1,661 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of C$68.77, for a total value of C$114,234.28. Also, Senior Officer Michael Schroeder sold 4,184 shares of the business’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of C$74.31, for a total transaction of C$310,923.50. Following the transaction, the insider now owns 51 shares in the company, valued at C$3,789.94. This trade represents a 98.80 % decrease in their position. In the last ninety days, insiders have sold 110,144 shares of company stock worth $8,568,586. Insiders own 2.26% of the company’s stock.

About Gildan Activewear

Gildan is a vertically integrated designer and manufacturer of basic apparel, including T-shirts, underwear, socks, and hosiery. Its primary market is the sale of blank T-shirts to wholesalers and printers (printwear). Gildan also sells branded clothing through retail and direct-to-consumer channels.