Gildan Activewear Inc. (TSE:GIL) Given Consensus Recommendation of “Buy” by Analysts

Gildan Activewear Inc. (TSE:GIL) (NYSE:GIL) has earned an average rating of “Buy” from the seven brokerages that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation, five have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among analysts that have covered the stock in the last year is C$56.00.

Several equities research analysts recently weighed in on the company. Desjardins lifted their price target on Gildan Activewear from C$63.00 to C$67.00 and gave the company a “buy” rating in a research report on Tuesday, August 6th. Citigroup lifted their price target on Gildan Activewear from C$44.00 to C$54.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. TD Securities boosted their target price on Gildan Activewear from C$46.00 to C$50.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. BMO Capital Markets raised Gildan Activewear to a “strong-buy” rating in a report on Friday, August 2nd. Finally, National Bankshares boosted their target price on Gildan Activewear from C$58.00 to C$68.00 in a report on Wednesday, October 9th.

Gildan Activewear Trading Up 0.3 %

TSE GIL opened at C$65.60 on Wednesday. The company has a quick ratio of 0.87, a current ratio of 2.35 and a debt-to-equity ratio of 72.52. Gildan Activewear has a twelve month low of C$37.78 and a twelve month high of C$66.30. The firm has a market capitalization of C$10.67 billion, a PE ratio of 20.06, a P/E/G ratio of 4.55 and a beta of 1.64. The stock’s 50 day moving average is C$61.13 and its 200 day moving average is C$54.36.

Gildan Activewear (TSE:GIL) (NYSE:GIL) last released its quarterly earnings results on Thursday, August 1st. The company reported C$1.01 earnings per share for the quarter, beating the consensus estimate of C$0.99 by C$0.02. Gildan Activewear had a return on equity of 21.95% and a net margin of 13.01%. The company had revenue of C$1.18 billion for the quarter, compared to analyst estimates of C$1.17 billion. Research analysts forecast that Gildan Activewear will post 4.5460385 earnings per share for the current fiscal year.

Gildan Activewear Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 16th were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 1.71%. This is an increase from Gildan Activewear’s previous quarterly dividend of $0.28. The ex-dividend date was Thursday, August 22nd. Gildan Activewear’s payout ratio is 33.94%.

Insider Transactions at Gildan Activewear

In other news, Senior Officer Rhodri Harries sold 32,500 shares of the business’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of C$61.20, for a total value of C$1,989,000.00. In other Gildan Activewear news, Director Michener Chandlee purchased 1,196 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was purchased at an average price of C$40.85 per share, for a total transaction of C$48,856.60. Also, Senior Officer Rhodri Harries sold 32,500 shares of the company’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of C$61.20, for a total value of C$1,989,000.00. Insiders sold 101,620 shares of company stock worth $4,870,471 over the last quarter. 2.26% of the stock is currently owned by 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.