Gildan Activewear (TSE:GIL) Rating Increased to Moderate Buy at Royal Bank Of Canada

Key Points

• Royal Bank of Canada upgraded Gildan Activewear to a "moderate buy" rating, indicating a positive outlook for the stock.
• The current average price target for Gildan Activewear is C$68.67, with multiple analysts giving it strong buy ratings.
• Gildan Activewear's stock performance includes a market cap of C$7.86 billion and a 52-week price range between C$52.77 and C$79.11.

Royal Bank Of Canada upgraded shares of Gildan Activewear (TSE:GIL - Free Report) NYSE: GIL to a moderate buy rating in a research note issued to investors on Tuesday,Zacks.com reports.

A number of other analysts have also weighed in on the stock. National Bankshares cut their price objective on shares of Gildan Activewear from C$83.00 to C$72.00 in a research note on Monday, April 21st. Desjardins cut their price objective on shares of 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. Barclays upgraded shares of Gildan Activewear to a "strong-buy" rating in a research note on Monday, April 28th. Finally, Scotiabank upgraded shares of Gildan Activewear to a "strong-buy" rating in a research note on Wednesday, May 28th. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of C$68.67.

Gildan Activewear Stock Down 1.3%

TSE:GIL traded down C$0.90 during midday trading on Tuesday, reaching C$70.96. 274,160 shares of the stock traded hands, compared to its average volume of 418,095. Gildan Activewear has a 12-month low of C$52.77 and a 12-month high of C$79.11. The business has a 50-day moving average of C$68.22 and a two-hundred day moving average of C$67.59. The company has a debt-to-equity ratio of 101.26, a quick ratio of 0.87 and a current ratio of 2.31. The stock has a market capitalization of C$7.71 billion, a PE ratio of 19.03, a price-to-earnings-growth ratio of 4.55 and a beta of 1.64.

Gildan Activewear Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 15th will be given a dividend of $0.226 per share. This represents a $0.90 annualized dividend and a yield of 1.3%. The ex-dividend date is Thursday, August 21st. Gildan Activewear's dividend payout ratio (DPR) is currently 29.76%.

Insider Buying and Selling

In other Gildan Activewear news, Senior Officer Benito Masi sold 15,000 shares of the stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of C$68.66, for a total transaction of C$1,029,840.00. Corporate insiders own 2.26% of the company's stock.

About Gildan Activewear

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.