Gildan Activewear (TSE:GIL) Given New C$54.00 Price Target 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 issued on Wednesday, BayStreet.CA reports. The firm presently has a “buy” rating on the stock. Citigroup’s price target points to a potential downside of 14.50% from the stock’s previous close.

GIL has been the topic of a number of other reports. 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 research note on Tuesday, August 6th. TD Securities increased 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 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, National Bankshares upped their price target on shares of Gildan Activewear from C$57.00 to C$58.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Gildan Activewear currently has an average rating of “Buy” and an average target price of C$54.00.

Gildan Activewear Price Performance

TSE GIL traded up C$0.07 during trading on Wednesday, hitting C$63.16. 118,602 shares of the company’s stock were exchanged, compared to its average volume of 357,600. The company has a market cap of C$10.27 billion, a PE ratio of 19.26, a P/E/G ratio of 4.55 and a beta of 1.65. The company has a current ratio of 2.35, a quick ratio of 0.87 and a debt-to-equity ratio of 72.52. Gildan Activewear has a fifty-two week low of C$36.59 and a fifty-two week high of C$63.68. The stock’s 50 day moving average price is C$58.04 and its two-hundred day moving average price is C$52.50.

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 analysts’ consensus estimates of C$0.99 by C$0.02. The business had revenue of C$1.18 billion during the quarter, compared to analysts’ expectations of C$1.17 billion. Gildan Activewear had a net margin of 13.01% and a return on equity of 21.95%. Research analysts expect that Gildan Activewear will post 4.5684287 EPS for the current year.

Insiders Place Their Bets

In other Gildan Activewear news, Director Michener Chandlee acquired 1,196 shares of Gildan Activewear stock in a transaction that occurred on Thursday, August 8th. The stock was acquired at an average cost of C$40.85 per share, for a total transaction of C$48,856.60. In other Gildan Activewear news, Director Michener Chandlee acquired 1,196 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was bought at an average price of C$40.85 per share, with a total value of C$48,856.60. Also, Senior Officer Benito Masi sold 50,000 shares of the company’s stock in a transaction that occurred on 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. Over the last 90 days, insiders have sold 101,620 shares of company stock valued at $4,870,471. 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.