Barclays Upgrades Gildan Activewear (TSE:GIL) to Strong-Buy

Gildan Activewear (TSE:GIL) (NYSE:GIL) was upgraded by equities research analysts at Barclays to a “strong-buy” rating in a research note issued to investors on Monday,Zacks.com reports.

Several other equities analysts have also issued reports on GIL. Desjardins lifted their target price on Gildan Activewear from C$82.00 to C$87.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. National Bankshares cut their price objective on shares of Gildan Activewear from C$83.00 to C$72.00 in a research report on Monday, April 21st. Finally, UBS Group raised shares of Gildan Activewear from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 10th. Four research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of C$65.75.

Gildan Activewear Stock Performance

Gildan Activewear stock opened at C$59.31 on Monday. The company has a debt-to-equity ratio of 101.26, a quick ratio of 0.87 and a current ratio of 2.31. The company has a market capitalization of C$6.44 billion, a PE ratio of 15.90, a P/E/G ratio of 4.55 and a beta of 1.64. The company has a 50 day moving average price of C$64.49 and a 200-day moving average price of C$67.80. Gildan Activewear has a fifty-two week low of C$44.23 and a fifty-two week high of C$79.11.

Gildan Activewear (TSE:GIL) (NYSE:GIL) last posted its earnings results on Wednesday, February 19th. The company reported C$0.83 EPS for the quarter, beating analysts’ consensus estimates of C$0.82 by C$0.01. Gildan Activewear had a net margin of 13.05% and a return on equity of 23.10%. During the same quarter in the prior year, the business posted $0.75 EPS. As a group, equities analysts forecast that Gildan Activewear will post 4.5460385 earnings per share for the current year.

Insider Buying and Selling

In other news, Senior Officer Michael Schroeder sold 4,184 shares of the company’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of C$74.31, for a total value of C$310,923.50. Following the sale, the insider now directly owns 51 shares of the company’s stock, valued at C$3,789.94. This represents a 98.80 % decrease in their position. Also, Senior Officer John Maness sold 1,661 shares of the firm’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of C$68.77, for a total transaction of C$114,234.28. Insiders sold 110,144 shares of company stock worth $8,568,586 in the last 90 days. 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.