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

Gildan Activewear Inc. (TSE:GIL) (NYSE:GIL) has received an average recommendation of “Buy” from the six ratings firms that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is C$54.00.

Several research firms have recently issued reports on GIL. BMO Capital Markets upgraded Gildan Activewear to a “strong-buy” rating in a research report on Friday, August 2nd. Desjardins raised their target price 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. National Bankshares boosted their target price 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. Finally, TD Securities increased 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.

Insider Buying and Selling at Gildan Activewear

In other Gildan Activewear news, Director Ghislain Houle purchased 9,625 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were bought at an average price of C$51.83 per share, with a total value of C$498,834.88. In related news, Director Ghislain Houle purchased 9,625 shares of Gildan Activewear stock in a transaction dated Monday, June 3rd. The stock was bought at an average price of C$51.83 per share, for a total transaction of C$498,834.88. Also, Senior Officer Jason De Haan sold 19,105 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of C$42.05, for a total transaction of C$803,365.25. Over the last ninety days, insiders sold 102,168 shares of company stock valued at $4,161,893. Company insiders own 2.26% of the company’s stock.

Gildan Activewear Stock Up 2.6 %

Shares of TSE GIL opened at C$58.99 on Tuesday. Gildan Activewear has a 1 year low of C$36.42 and a 1 year high of C$59.15. The firm’s 50-day moving average is C$54.43 and its 200-day moving average is C$50.46. 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 firm has a market capitalization of C$9.59 billion, a PE ratio of 17.88, a price-to-earnings-growth ratio of 4.55 and a beta of 1.64.

Gildan Activewear (TSE:GIL) (NYSE:GIL) last announced its quarterly earnings data on Thursday, August 1st. The company reported C$1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of C$1.18 billion for the quarter, compared to analysts’ expectations of C$1.17 billion. Equities analysts expect that Gildan Activewear will post 4.2801183 EPS for the current year.

Gildan Activewear Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors 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 of this dividend is Thursday, August 22nd. This is an increase from Gildan Activewear’s previous quarterly dividend of $0.28. Gildan Activewear’s dividend payout ratio (DPR) is presently 34.24%.

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.