Desjardins Increases Gildan Activewear (TSE:GIL) Price Target to C$67.00

Gildan Activewear (TSE:GIL) (NYSE:GIL) had its price objective lifted by Desjardins from C$63.00 to C$67.00 in a research report released on Tuesday, BayStreet.CA reports. The brokerage currently has a buy rating on the stock. Desjardins also issued estimates for Gildan Activewear’s FY2024 earnings at $4.10 EPS.

Other research analysts have also recently issued reports about the company. National Bankshares raised 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. BMO Capital Markets raised shares of Gildan Activewear to a strong-buy rating in a report on Friday, August 2nd. Finally, TD Securities upped their target price on shares of Gildan Activewear from C$46.00 to C$50.00 and gave the company a buy rating in a research note on Friday, August 2nd. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Gildan Activewear has an average rating of Buy and a consensus price target of C$54.00.

Gildan Activewear Stock Performance

GIL traded up C$0.41 on Tuesday, hitting C$57.24. 268,389 shares of the stock traded hands, compared to its average volume of 333,714. The business has a fifty day moving average price of C$53.30 and a two-hundred day moving average price of C$49.55. The company has a current ratio of 2.35, a quick ratio of 0.87 and a debt-to-equity ratio of 72.52. Gildan Activewear has a 52 week low of C$36.42 and a 52 week high of C$58.00. The firm has a market capitalization of C$9.31 billion, a PE ratio of 17.14, a P/E/G ratio of 4.55 and a beta of 1.64.

Gildan Activewear Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Thursday, August 22nd will be issued a $0.28 dividend. This is a positive change from Gildan Activewear’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Thursday, August 22nd. This represents a $1.12 annualized dividend and a dividend yield of 1.96%. Gildan Activewear’s dividend payout ratio is presently 33.83%.

Insider Buying and Selling

In other Gildan Activewear news, Senior Officer Juan Carlos Contreras Contreras Y. Contreras sold 4,350 shares of the business’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of C$37.06, for a total value of C$161,200.13. In other news, Senior Officer Rhodri Harries sold 28,698 shares of the stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of C$39.00, for a total transaction of C$1,119,222.00. Also, Senior Officer Juan Carlos Contreras Contreras Y. Contreras sold 4,350 shares of Gildan Activewear stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of C$37.06, for a total value of C$161,200.13. Insiders sold 33,063 shares of company stock worth $1,281,033 in the last quarter. 2.26% of the stock is owned by corporate insiders.

Gildan Activewear Company Profile

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.