Gildan Activewear (GIL) Downgraded to Hold at Desjardins

Desjardins cut shares of Gildan Activewear (TSE:GIL) (NYSE:GIL) from a buy rating to a hold rating in a research note published on Monday, February 4th. They currently have C$45.00 price target on the stock, up from their previous price target of C$44.00.

Separately, Citigroup lifted their price target on Gildan Activewear from C$43.00 to C$46.00 in a report on Monday, December 3rd.

Shares of Gildan Activewear stock traded up C$0.73 on Monday, reaching C$47.79. 480,200 shares of the company were exchanged, compared to its average volume of 453,896. Gildan Activewear has a fifty-two week low of C$33.03 and a fifty-two week high of C$48.47. The company has a quick ratio of 1.21, a current ratio of 3.99 and a debt-to-equity ratio of 36.26. The firm has a market capitalization of $9.88 billion and a PE ratio of 28.81.

The company also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Monday, April 1st will be paid a $0.134 dividend. The ex-dividend date of this dividend is Wednesday, March 6th. This represents a $0.54 dividend on an annualized basis and a yield of 1.12%. This is an increase from Gildan Activewear’s previous quarterly dividend of $0.11. Gildan Activewear’s payout ratio is 27.00%.

In related news, Director Michael Hoffman sold 35,504 shares of the business’s stock in a transaction dated Monday, February 25th. The stock was sold at an average price of C$46.41, for a total transaction of C$1,647,740.64. Following the completion of the transaction, the director now owns 30,056 shares of the company’s stock, valued at approximately C$1,394,898.96. Also, Director Glenn J. Chamandy sold 75,000 shares of the business’s stock in a transaction dated Wednesday, February 27th. The stock was sold at an average price of C$47.21, for a total value of C$3,540,750.00. Following the transaction, the director now directly owns 192,625 shares of the company’s stock, valued at approximately C$9,093,826.25. Insiders sold 120,504 shares of company stock worth $5,652,591 in the last 90 days.

About Gildan Activewear

Gildan Activewear Inc manufactures and sells a range of apparel products in the United States, Canada, Mexico, Europe, the Asia-Pacific, and Latin America. It operates in two segments, Printwear and Branded Apparel. The company manufactures and markets active wear products, including T-shirts, fleece tops and bottoms, and sport shirts under Gildan, Gildan Performance, Gildan Platinum, Gildan Hammer, Smart Basics, Comfort Colors, American Apparel, Anvil, Alstyle, Gold Toe, and Mossy Oak brands.

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