Gildan Activewear (TSE:GIL) Rating Increased to Buy at Desjardins

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Desjardins upgraded shares of Gildan Activewear (TSE:GIL) (NYSE:GIL) from a hold rating to a buy rating in a research report released on Friday morning, BayStreet.CA reports. Desjardins currently has C$57.00 price objective on the stock, up from their prior price objective of C$48.00.

Several other equities research analysts have also issued reports on GIL. BMO Capital Markets set a C$39.00 price objective on Gildan Activewear and gave the company a market perform rating in a research note on Friday, May 3rd. National Bank Financial raised their price objective on Gildan Activewear from C$52.00 to C$54.00 and gave the company a sector perform rating in a research note on Thursday, May 2nd.

TSE:GIL opened at C$51.06 on Friday. The company has a market cap of $10.53 billion and a price-to-earnings ratio of 35.73. Gildan Activewear has a 1 year low of C$36.62 and a 1 year high of C$53.33. The company has a 50 day moving average of C$51.45. The company has a debt-to-equity ratio of 53.26, a current ratio of 4.92 and a quick ratio of 1.64.

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 9th. Stockholders of record on Monday, September 9th will be issued a $0.134 dividend. The ex-dividend date is Wednesday, August 14th. This represents a $0.54 annualized dividend and a dividend yield of 1.05%. Gildan Activewear’s payout ratio is 49.69%.

About Gildan Activewear

Gildan Activewear Inc manufactures and sells a range of apparel products in North America, Europe, the Asia-Pacific, and Latin America. 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, Comfort Colors, American Apparel, Anvil, Alstyle, and Gold Toe brands.

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