Gildan Activewear (TSE:GIL) Hits New 1-Year High – What’s Next?

Gildan Activewear Inc. (TSE:GIL) (NYSE:GIL)’s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as C$66.30 and last traded at C$65.80, with a volume of 161223 shares trading hands. The stock had previously closed at C$65.55.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Citigroup lifted their target price on Gildan Activewear from C$44.00 to C$54.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. National Bankshares boosted their target price on shares of Gildan Activewear from C$58.00 to C$68.00 in a research note on Wednesday, October 9th. BMO Capital Markets upgraded Gildan Activewear to a “strong-buy” rating in a research note on Friday, August 2nd. Desjardins raised their target price on Gildan Activewear from C$63.00 to C$67.00 and gave the stock a “buy” rating in a research report on Tuesday, August 6th. Finally, TD Securities upped their price target on Gildan Activewear from C$46.00 to C$50.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of C$56.00.

Gildan Activewear Price Performance

The firm has a market cap of C$10.63 billion, a P/E ratio of 20.10, a PEG ratio of 4.55 and a beta of 1.64. The business’s fifty day simple moving average is C$60.80 and its 200-day simple moving average is C$54.15. The company has a current ratio of 2.35, a quick ratio of 0.87 and a debt-to-equity ratio of 72.52.

Gildan Activewear (TSE:GIL) (NYSE:GIL) last released its quarterly earnings data on Thursday, August 1st. The company reported C$1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.99 by C$0.02. The company had revenue of C$1.18 billion for the quarter, compared to analyst estimates of C$1.17 billion. Gildan Activewear had a return on equity of 21.95% and a net margin of 13.01%. As a group, analysts forecast that Gildan Activewear Inc. will post 4.5460385 EPS for the current fiscal year.

Gildan Activewear Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 16th were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.71%. This is an increase from Gildan Activewear’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Thursday, August 22nd. Gildan Activewear’s dividend payout ratio is presently 33.94%.

Insider Activity

In other Gildan Activewear news, Senior Officer Benito Masi sold 50,000 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of C$41.55, for a total value of C$2,077,495.00. In other news, Senior Officer Rhodri Harries sold 32,500 shares of Gildan Activewear stock in a transaction dated Friday, September 13th. The stock was sold at an average price of C$61.20, for a total transaction of C$1,989,000.00. Also, Senior Officer Benito Masi sold 50,000 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of C$41.55, for a total value of C$2,077,495.00. Over the last ninety days, insiders sold 101,620 shares of company stock worth $4,870,471. 2.26% of the stock is owned by company insiders.

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.