Gildan Activewear (TSE:GIL) Upgraded to Strong-Buy at Scotiabank

Scotiabank upgraded shares of Gildan Activewear (TSE:GIL - Free Report) NYSE: GIL to a strong-buy rating in a report published on Wednesday morning,Zacks.com reports.

GIL has been the topic of several other research reports. Barclays upgraded Gildan Activewear to a "strong-buy" rating in a research note on Monday, April 28th. National Bankshares cut their price target on Gildan Activewear from C$83.00 to C$72.00 in a research note on Monday, April 21st. Finally, Desjardins cut their price target on Gildan Activewear from C$87.00 to C$80.00 and set a "buy" rating on the stock in a research note on Wednesday, April 30th. Four investment analysts have rated the stock with a buy rating and four have given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Strong Buy" and a consensus target price of C$64.00.

Gildan Activewear Stock Down 2.9%

Shares of Gildan Activewear stock traded down C$1.93 during trading on Wednesday, hitting C$64.55. 1,996,166 shares of the stock traded hands, compared to its average volume of 437,921. The firm has a market cap of C$7.01 billion, a P/E ratio of 17.31, a price-to-earnings-growth ratio of 4.55 and a beta of 1.64. The company has a current ratio of 2.31, a quick ratio of 0.87 and a debt-to-equity ratio of 101.26. Gildan Activewear has a 52-week low of C$48.74 and a 52-week high of C$79.11. The stock's fifty day simple moving average is C$62.63 and its 200 day simple moving average is C$67.81.

Gildan Activewear Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 16th will be paid a $0.226 dividend. The ex-dividend date of this dividend is Tuesday, May 20th. This represents a $0.90 annualized dividend and a yield of 1.40%. Gildan Activewear's dividend payout ratio (DPR) is presently 29.76%.

Insider Buying and Selling at Gildan Activewear

In other Gildan Activewear news, Senior Officer John Maness sold 1,661 shares of the firm's stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of C$68.77, for a total value of C$114,234.28. Also, Senior Officer Michael Schroeder sold 4,184 shares of Gildan Activewear stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of C$74.31, for a total value of C$310,923.50. Following the sale, the insider now directly owns 51 shares of the company's stock, valued at C$3,789.94. This trade represents a 98.80% decrease in their position. Insiders have sold 25,745 shares of company stock worth $1,773,488 over the last quarter. Insiders own 2.26% of the company's stock.

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.