Gildan Activewear Inc. (TSE:GIL) Given Average Recommendation of "Buy" by Brokerages

Key Points

• Gildan Activewear Inc. has received an average recommendation of "Buy" from seven brokerage firms, with three analysts issuing a "strong buy" rating and an average 12-month price target of C$77.33.
• Insider Benito Masi sold 15,000 shares of Gildan's stock for approximately C$1.13 million, decreasing their ownership by 4.01%.
• The company declared a quarterly dividend of $0.226 per share, reflecting an annualized yield of 1.1% and a payout ratio of 27.63%.

Gildan Activewear Inc. (TSE:GIL - Get Free Report) NYSE: GIL has been assigned a consensus recommendation of "Buy" from the seven ratings firms that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation, three have given a buy recommendation and three have issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have covered the stock in the last year is C$77.33.

A number of analysts recently commented on GIL shares. Cfra Research upgraded shares of Gildan Activewear to a "hold" rating in a report on Monday, August 4th. TD Securities upped their price target on Gildan Activewear from C$60.00 to C$67.00 and gave the company a "buy" rating in a report on Monday, September 8th. Royal Bank Of Canada raised Gildan Activewear to a "moderate buy" rating in a research note on Tuesday, August 5th. Finally, National Bankshares boosted their target price on Gildan Activewear from C$80.00 to C$85.00 and gave the stock an "outperform" rating in a research report on Thursday, August 14th.

Insider Buying and Selling at Gildan Activewear

In related news, insider Benito Masi sold 15,000 shares of the company's stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of C$75.07, for a total transaction of C$1,126,017.00. Following the transaction, the insider directly owned 359,421 shares of the company's stock, valued at approximately C$26,980,943.74. The trade was a 4.01% decrease in their ownership of the stock. 2.26% of the stock is currently owned by company insiders.

Gildan Activewear Stock Performance

Shares of GIL opened at C$80.40 on Wednesday. Gildan Activewear has a 52-week low of C$52.77 and a 52-week high of C$81.04. The company has a quick ratio of 0.87, a current ratio of 2.31 and a debt-to-equity ratio of 101.26. The firm has a market capitalization of C$11.99 billion, a PE ratio of 25.77, a P/E/G ratio of 4.55 and a beta of 1.27. The firm has a 50-day moving average price of C$74.97 and a 200 day moving average price of C$68.21.

Gildan Activewear Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 15th were paid a dividend of $0.226 per share. The ex-dividend date of this dividend was Thursday, August 21st. This represents a $0.90 dividend on an annualized basis and a yield of 1.1%. Gildan Activewear's dividend payout ratio is currently 27.63%.

Gildan Activewear Company Profile

Gildan is a vertically integrated designer and manufacturer of basic apparel, including T-shirts, underwear, socks, and hosiery. Its primary market is the sale of blank T-shirts to wholesalers and printers (printwear). Gildan also sells branded clothing through retail and direct-to-consumer channels.

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