Gildan Activewear (TSE:GIL) Cut to Neutral at Citigroup

Citigroup lowered shares of Gildan Activewear (TSE:GIL) (NYSE:GIL) from a buy rating to a neutral rating in a research note issued to investors on Monday, MarketBeat.com reports. Citigroup currently has C$63.00 price objective on the stock, up from their previous price objective of C$60.00.

Other research analysts also recently issued research reports about the stock. Royal Bank Of Canada raised shares of Gildan Activewear to a “moderate buy” rating in a research report on Tuesday, August 5th. National Bankshares raised their target price on shares of Gildan Activewear from C$80.00 to C$85.00 and gave the stock an “outperform” rating in a research note on Thursday, August 14th. Cfra Research upgraded shares of Gildan Activewear to a “hold” rating in a research note on Monday, August 4th. Finally, TD Securities raised their target price on shares of Gildan Activewear from C$60.00 to C$67.00 and gave the stock a “buy” rating in a research note on Monday, September 8th. Three equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Gildan Activewear has an average rating of “Buy” and a consensus target price of C$73.75.

Gildan Activewear Stock Performance

Shares of GIL opened at C$83.01 on Monday. The firm has a 50-day moving average of C$79.11 and a 200-day moving average of C$70.42. Gildan Activewear has a one year low of C$52.77 and a one year high of C$86.84. The company has a market cap of C$12.37 billion, a PE ratio of 26.61, a price-to-earnings-growth ratio of 4.55 and a beta of 1.34. The company has a debt-to-equity ratio of 101.26, a current ratio of 2.31 and a quick ratio of 0.87.

Gildan Activewear Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 15th were given a $0.226 dividend. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Thursday, August 21st. Gildan Activewear’s payout ratio is presently 27.63%.

Insider Buying and Selling at Gildan Activewear

In other news, insider Benito Masi sold 15,000 shares of Gildan Activewear stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of C$75.07, for a total value of C$1,126,017.00. Following the completion of the sale, the insider directly owned 359,421 shares in the company, valued at approximately C$26,980,943.74. The trade was a 4.01% decrease in their ownership of the stock. 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.