Gildan Activewear (TSE:GIL) Price Target Raised to C$54.00

Gildan Activewear (TSE:GIL) (NYSE:GIL) had its target price raised by Citigroup from C$44.00 to C$54.00 in a research note published on Wednesday, BayStreet.CA reports. The brokerage currently has a buy rating on the stock.

A number of other analysts also recently issued reports on GIL. National Bankshares raised their price objective on Gildan Activewear from C$57.00 to C$58.00 and gave the stock an outperform rating in a research report on Friday, August 2nd. TD Securities lifted their price target on shares of Gildan Activewear from C$46.00 to C$50.00 and gave the company a buy rating in a research report on Friday, August 2nd. BMO Capital Markets upgraded shares of Gildan Activewear to a strong-buy rating in a report on Friday, August 2nd. Finally, Desjardins increased their price objective on shares of Gildan Activewear from C$63.00 to C$67.00 and gave the stock a buy rating in a research report on Tuesday, August 6th. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Buy and an average price target of C$54.00.

Gildan Activewear Price Performance

Shares of GIL stock opened at C$63.33 on Wednesday. The firm’s 50-day moving average is C$58.23 and its two-hundred day moving average is C$52.57. Gildan Activewear has a 12 month low of C$37.12 and a 12 month high of C$64.34. The company has a debt-to-equity ratio of 72.52, a current ratio of 2.35 and a quick ratio of 0.87. The company has a market capitalization of C$10.30 billion, a PE ratio of 19.31, a price-to-earnings-growth ratio of 4.55 and a beta of 1.65.

Gildan Activewear (TSE:GIL) (NYSE:GIL) last released its quarterly earnings data on Thursday, August 1st. The company reported C$1.01 EPS for the quarter, beating analysts’ consensus estimates of C$0.99 by C$0.02. The firm had revenue of C$1.18 billion for the quarter, compared to analysts’ expectations of C$1.17 billion. Gildan Activewear had a return on equity of 21.95% and a net margin of 13.01%. Analysts predict that Gildan Activewear will post 4.5684287 earnings per share for the current year.

Gildan Activewear Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 16th were paid a dividend of $0.28 per share. This is an increase from Gildan Activewear’s previous quarterly dividend of $0.28. This represents a $1.12 annualized dividend and a yield of 1.77%. The ex-dividend date was Thursday, August 22nd. Gildan Activewear’s dividend payout ratio is presently 33.84%.

Insiders Place Their Bets

In other news, Senior Officer Rhodri Harries sold 32,500 shares of the company’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of C$61.20, for a total transaction of C$1,989,000.00. In other Gildan Activewear news, Senior Officer Jason De Haan sold 19,105 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of C$42.05, for a total transaction of C$803,365.25. Also, Senior Officer Rhodri Harries sold 32,500 shares of the firm’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of C$61.20, for a total transaction of C$1,989,000.00. Insiders have sold a total of 101,620 shares of company stock worth $4,870,471 in the last ninety days. 2.26% of the stock is owned by corporate insiders.

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.