Gildan Activewear (TSE:GIL) Upgraded 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 report issued on Tuesday,Zacks.com reports.

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

Gildan Activewear Stock Down 1.1%

GIL stock traded down C$0.81 during mid-day trading on Tuesday, hitting C$71.86. 342,024 shares of the company were exchanged, compared to its average volume of 419,048. The firm's 50 day simple moving average is C$68.10 and its 200 day simple moving average is C$67.64. The company has a debt-to-equity ratio of 101.26, a quick ratio of 0.87 and a current ratio of 2.31. Gildan Activewear has a 1-year low of C$52.77 and a 1-year high of C$79.11. The firm has a market cap of C$7.80 billion, a P/E ratio of 19.27, a P/E/G ratio of 4.55 and a beta of 1.64.

Gildan Activewear Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 15th will be paid a $0.226 dividend. The ex-dividend date of this dividend is Thursday, August 21st. This represents a $0.90 annualized dividend and a yield of 1.3%. Gildan Activewear's dividend payout ratio is presently 29.76%.

Insider Buying and Selling at Gildan Activewear

In other Gildan Activewear news, Senior Officer Benito Masi sold 15,000 shares of the stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of C$68.66, for a total value of C$1,029,840.00. 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.