Gildan Activewear (NYSE:GIL) Reaches New 12-Month High – Should You Buy?

Shares of Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $47.76 and last traded at $47.72, with a volume of 10872 shares traded. The stock had previously closed at $47.66.

Wall Street Analysts Forecast Growth

A number of research firms have commented on GIL. Royal Bank of Canada lifted their target price on Gildan Activewear from $41.00 to $44.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. BMO Capital Markets raised their price objective on Gildan Activewear from $43.00 to $47.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Finally, Stifel Nicolaus upped their target price on shares of Gildan Activewear from $51.00 to $54.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $44.77.

Gildan Activewear Stock Up 0.1 %

The business has a 50-day simple moving average of $44.87 and a 200-day simple moving average of $39.87. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.97 and a current ratio of 2.35. The company has a market cap of $7.87 billion, a price-to-earnings ratio of 16.06, a price-to-earnings-growth ratio of 1.81 and a beta of 1.43.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last released its earnings results on Thursday, August 1st. The textile maker reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.03. The firm had revenue of $862.20 million for the quarter, compared to analyst estimates of $851.10 million. Gildan Activewear had a net margin of 13.01% and a return on equity of 24.96%. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.63 earnings per share. On average, equities analysts anticipate that Gildan Activewear Inc. will post 2.92 earnings per share for the current fiscal year.

Gildan Activewear Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Thursday, August 22nd were given a dividend of $0.205 per share. The ex-dividend date was Thursday, August 22nd. This represents a $0.82 annualized dividend and a dividend yield of 1.73%. Gildan Activewear’s dividend payout ratio (DPR) is currently 27.70%.

Institutional Trading of Gildan Activewear

A number of hedge funds and other institutional investors have recently bought and sold shares of GIL. Cullen Frost Bankers Inc. acquired a new stake in Gildan Activewear during the second quarter worth approximately $51,000. Natixis purchased a new position in shares of Gildan Activewear during the first quarter worth about $51,000. Tobam acquired a new stake in shares of Gildan Activewear during the second quarter worth about $53,000. CWM LLC increased its position in Gildan Activewear by 23.0% during the third quarter. CWM LLC now owns 1,698 shares of the textile maker’s stock worth $80,000 after buying an additional 318 shares during the period. Finally, EverSource Wealth Advisors LLC increased its position in Gildan Activewear by 16.9% during the first quarter. EverSource Wealth Advisors LLC now owns 1,893 shares of the textile maker’s stock worth $66,000 after buying an additional 274 shares during the period. 82.83% of the stock is currently owned by institutional investors and hedge funds.

Gildan Activewear Company Profile

Gildan Activewear Inc manufactures and sells various apparel products in the United States, North America, Europe, Asia-Pacific, and Latin America. It provides various activewear products, including T-shirts, fleece tops and bottoms, and sports shirts under the Gildan, Gildan Performance, Gildan Hammer, Glidan Softstyle, Gildan Heavy Cotton, Gildan Ultra Cotton, Gildan DryBlend, Gildan HeavyBlend, Comfort Colors, and American Apparel brands.