Gildan Activewear (TSE:GIL) Price Target Increased to C$54.00 by Analysts at Citigroup

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

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

Gildan Activewear Stock Performance

Shares of GIL stock opened at C$63.33 on Wednesday. The company has a current ratio of 2.35, a quick ratio of 0.87 and a debt-to-equity ratio of 72.52. The stock has a 50 day simple moving average of C$58.42 and a 200-day simple moving average of C$52.65. The company has a market cap of C$10.30 billion, a price-to-earnings ratio of 19.31, a price-to-earnings-growth ratio of 4.55 and a beta of 1.65. Gildan Activewear has a 12-month low of C$37.12 and a 12-month high of C$64.34.

Gildan Activewear (TSE:GIL) (NYSE:GIL) last released its quarterly earnings data on Thursday, August 1st. The company reported C$1.01 earnings per share (EPS) for the quarter, topping 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 firm had revenue of C$1.18 billion during the quarter, compared to analysts’ expectations of C$1.17 billion. On average, equities analysts forecast that Gildan Activewear will post 4.5684287 EPS for the current 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 dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date of this dividend was Thursday, August 22nd. This is a boost from Gildan Activewear’s previous quarterly dividend of $0.28. Gildan Activewear’s dividend payout ratio is 33.84%.

Insiders Place Their Bets

In related news, Senior Officer Rhodri Harries sold 32,500 shares of the business’s stock in a transaction dated 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. In other Gildan Activewear news, Director Michener Chandlee purchased 1,196 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was bought at an average cost 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 firm’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. Over the last 90 days, insiders sold 101,620 shares of company stock valued at $4,870,471. Corporate insiders own 2.26% 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.