Gildan Activewear Inc (GIL) Receives C$40.08 Average Target Price from Brokerages
Gildan Activewear Inc (TSE:GIL) (NYSE:GIL) has been given an average recommendation of “Hold” by the nine brokerages that are currently covering the company, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is C$39.58.
GIL has been the subject of several analyst reports. National Bank Financial reduced their price target on Gildan Activewear from C$43.00 to C$40.00 and set an “outperform” rating for the company in a report on Tuesday, August 1st. Royal Bank Of Canada downgraded Gildan Activewear from an “outperform” rating to a “sector perform” rating and set a C$40.00 price target for the company. in a report on Wednesday, July 12th. Canaccord Genuity downgraded Gildan Activewear from a “buy” rating to a “hold” rating in a report on Thursday, July 13th. BMO Capital Markets reduced their price target on Gildan Activewear from C$34.00 to C$30.00 and set a “market perform” rating for the company in a report on Friday. Finally, TD Securities downgraded Gildan Activewear from a “buy” rating to a “hold” rating and set a C$41.50 price target for the company. in a report on Friday, August 4th.
In other Gildan Activewear news, Director George Jason Heller acquired 2,500 shares of the company’s stock in a transaction that occurred on Thursday, August 10th. The shares were bought at an average cost of C$38.58 per share, with a total value of C$96,450.00. Also, insider Benito Masi sold 10,000 shares of the stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of C$38.68, for a total value of C$386,800.00. Insiders have sold 227,300 shares of company stock valued at $8,567,256 over the last 90 days.
Gildan Activewear (GIL) traded up C$0.35 on Wednesday, reaching C$37.38. The company’s stock had a trading volume of 952,288 shares, compared to its average volume of 631,893. Gildan Activewear has a twelve month low of C$30.97 and a twelve month high of C$42.18.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 11th. Stockholders of record on Thursday, November 16th will be issued a dividend of $0.121 per share. The ex-dividend date is Wednesday, November 15th. This is an increase from Gildan Activewear’s previous quarterly dividend of $0.09. This represents a $0.48 annualized dividend and a dividend yield of 1.29%.
About Gildan Activewear
Gildan Activewear Inc is a manufacturer and marketer of branded basic family apparel, including T-shirts, fleece, sport shirts, underwear, socks, hosiery and shapewear. The Company operates through two segments: Printwear and Branded Apparel. The Printwear segment designs, manufactures, sources, markets, and distributes undecorated activewear products.
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