Gildan Activewear (TSE:GIL) Downgraded by Citigroup to “Neutral”

Citigroup cut 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 morning, MarketBeat reports. Citigroup currently has C$63.00 price objective on the stock, up from their previous price objective of C$60.00.

A number of other brokerages also recently commented on GIL. National Bankshares lifted their price objective on Gildan Activewear from C$80.00 to C$85.00 and gave the stock an “outperform” rating in a research report on Thursday, August 14th. Cfra Research raised Gildan Activewear to a “hold” rating in a research note on Monday, August 4th. TD Securities lifted their price objective on Gildan Activewear from C$60.00 to C$67.00 and gave the company a “buy” rating in a research note on Monday, September 8th. Finally, Royal Bank Of Canada raised Gildan Activewear to a “moderate buy” rating in a research note on Tuesday, August 5th. Three analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Gildan Activewear currently has a consensus rating of “Buy” and a consensus target price of C$73.75.

Gildan Activewear Stock Performance

TSE GIL opened at C$84.03 on Monday. Gildan Activewear has a 1-year low of C$52.77 and a 1-year high of C$86.84. The company has a market cap of C$12.53 billion, a PE ratio of 26.93, 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. The stock’s 50 day simple moving average is C$78.65 and its 200-day simple moving average is C$70.24.

Gildan Activewear Dividend Announcement

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

Insiders Place Their Bets

In related news, insider Benito Masi sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of C$75.07, for a total value of C$1,126,017.00. Following the completion of the transaction, the insider directly owned 359,421 shares of the company’s stock, valued at C$26,980,943.74. This trade represents a 4.01% decrease in their position. 2.26% of the stock is owned by insiders.

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.