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

Shares of Gildan Activewear Inc. (TSE:GIL) (NYSE:GIL) have been assigned a consensus recommendation of “Buy” from the six research firms that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is C$54.00.

Several equities research analysts have recently weighed in on GIL shares. Desjardins raised their price objective on Gildan Activewear from C$63.00 to C$67.00 and gave the stock a “buy” rating in a research note on Tuesday, August 6th. National Bankshares lifted 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 raised shares of Gildan Activewear to a “strong-buy” rating in a research note on Friday, August 2nd. Finally, TD Securities lifted their target price on shares of Gildan Activewear from C$46.00 to C$50.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd.

Gildan Activewear Trading Up 2.6 %

Shares of Gildan Activewear stock opened at C$58.99 on Tuesday. The business has a fifty day simple moving average of C$54.43 and a 200-day simple moving average of C$50.46. Gildan Activewear has a fifty-two week low of C$36.42 and a fifty-two week high of C$59.15. The firm has a market cap of C$9.59 billion, a price-to-earnings ratio of 17.88, a price-to-earnings-growth ratio of 4.55 and a beta of 1.64. 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 (TSE:GIL) (NYSE:GIL) last posted its quarterly earnings data 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 net margin of 13.01% and a return on equity of 21.95%. The company had revenue of C$1.18 billion during the quarter, compared to analyst estimates of C$1.17 billion. On average, equities analysts forecast that Gildan Activewear will post 4.2801183 EPS for the current fiscal year.

Gildan Activewear Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 16th will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 1.90%. The ex-dividend date is Thursday, August 22nd. This is a boost from Gildan Activewear’s previous quarterly dividend of $0.28. Gildan Activewear’s payout ratio is 34.24%.

Insider Activity

In other Gildan Activewear news, Senior Officer Juan Carlos Contreras Contreras Y. Contreras sold 4,350 shares of the stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of C$37.06, for a total value of C$161,200.13. In other Gildan Activewear news, Senior Officer Juan Carlos Contreras Contreras Y. Contreras sold 4,350 shares of the company’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of C$37.06, for a total value of C$161,200.13. Also, Senior Officer Benito Masi sold 50,000 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of C$41.55, for a total value of C$2,077,495.00. Insiders have sold 102,168 shares of company stock worth $4,161,893 in the last 90 days. Company insiders own 2.26% of the company’s stock.

About Gildan Activewear

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.