Gildan Activewear (TSE:GIL) Given New C$54.00 Price Target at Citigroup

Gildan Activewear (TSE:GIL) (NYSE:GIL) had its price target upped by investment analysts at Citigroup from C$44.00 to C$54.00 in a research report issued on Wednesday, BayStreet.CA reports. The firm presently has a “buy” rating on the stock. Citigroup’s target price points to a potential downside of 14.50% from the stock’s current price.

A number of other research firms have also recently weighed in on GIL. BMO Capital Markets raised Gildan Activewear to a “strong-buy” rating in a report on Friday, August 2nd. Desjardins lifted their target price on Gildan Activewear from C$63.00 to C$67.00 and gave the company a “buy” rating in a research report on Tuesday, August 6th. TD Securities boosted their target price on Gildan Activewear from C$46.00 to C$50.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Finally, National Bankshares lifted their price target on Gildan Activewear from C$57.00 to C$58.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of C$54.00.

Gildan Activewear Price Performance

GIL traded up C$0.07 on Wednesday, hitting C$63.16. 118,602 shares of the company’s stock traded hands, compared to its average volume of 357,600. The firm has a market cap of C$10.27 billion, a price-to-earnings ratio of 19.26, a P/E/G ratio of 4.55 and a beta of 1.65. The company’s 50 day simple moving average is C$58.04 and its 200-day simple moving average is C$52.50. 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 one year low of C$36.59 and a one year high of C$63.68.

Gildan Activewear (TSE:GIL) (NYSE:GIL) last issued its earnings results on Thursday, August 1st. The company reported C$1.01 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.99 by C$0.02. The business had revenue of C$1.18 billion during the quarter, compared to analyst estimates of C$1.17 billion. Gildan Activewear had a return on equity of 21.95% and a net margin of 13.01%. As a group, research analysts anticipate that Gildan Activewear will post 4.5684287 EPS for the current year.

Insider Activity

In other Gildan Activewear news, Senior Officer Rhodri Harries sold 32,500 shares of Gildan Activewear stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of C$61.20, for a total transaction of C$1,989,000.00. In other news, Senior Officer Rhodri Harries sold 32,500 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of C$61.20, for a total transaction of C$1,989,000.00. Also, Senior Officer Benito Masi sold 50,000 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of C$41.55, for a total transaction of C$2,077,495.00. Over the last 90 days, insiders have sold 101,620 shares of company stock valued at $4,870,471. Insiders own 2.26% of the company’s stock.

About Gildan Activewear

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.