Gildan Activewear Inc (TSE:GIL) Price Target Cut to C$30.00

Gildan Activewear Inc (TSE:GIL) (NYSE:GIL) had its price target reduced by BMO Capital Markets from C$34.00 to C$30.00 in a research note issued to investors on Friday, November 3rd. They currently have a market perform rating on the stock.

A number of other research firms have also recently weighed in on GIL. National Bank Financial cut Gildan Activewear from an outperform rating to a sector perform rating and lifted their price target for the company from C$40.00 to C$41.00 in a report on Friday, August 4th. Canaccord Genuity cut Gildan Activewear from a buy rating to a hold rating in a report on Thursday, July 13th. Royal Bank Of Canada cut Gildan Activewear from an outperform rating to a sector perform rating and set a C$40.00 price target on the stock. in a report on Wednesday, July 12th. Finally, TD Securities cut Gildan Activewear from a buy rating to a hold rating and set a C$41.50 price target on the stock. in a report on Friday, August 4th. Seven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of C$39.58.

Gildan Activewear (TSE:GIL) opened at C$38.32 on Friday. Gildan Activewear has a 52 week low of C$30.97 and a 52 week high of C$42.18.

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The company also recently announced a quarterly dividend, which will be paid on Monday, December 11th. Investors of record on Thursday, November 16th will be issued a dividend of $0.121 per share. This is a boost from Gildan Activewear’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Wednesday, November 15th. This represents a $0.48 annualized dividend and a yield of 1.26%. Gildan Activewear’s payout ratio is presently 16.83%.

In related news, insider Jonathan Roiter sold 14,500 shares of the business’s stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of C$37.53, for a total transaction of C$544,185.00.

About Gildan Activewear

Gildan Activewear Inc is a manufacturer and marketer of branded basic family apparel, including T-shirts, fleece, sport shirts, underwear, socks, hosiery and shapewear. The Company operates through two segments: Printwear and Branded Apparel. The Printwear segment designs, manufactures, sources, markets, and distributes undecorated activewear products.

Analyst Recommendations for Gildan Activewear (TSE:GIL)

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