Gildan Activewear (TSE:GIL) Reaches New 12-Month High – Still a Buy?

Gildan Activewear Inc. (TSE:GIL) (NYSE:GIL)’s stock price reached a new 52-week high on Tuesday . The company traded as high as C$69.78 and last traded at C$69.58, with a volume of 162008 shares trading hands. The stock had previously closed at C$68.25.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on GIL shares. TD Securities increased 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. National Bankshares increased their price target on Gildan Activewear from C$68.00 to C$74.00 and gave the company an “outperform” rating in a research report on Friday. Desjardins increased their price objective on Gildan Activewear from C$63.00 to C$67.00 and gave the stock a “buy” rating in a research note on Tuesday, August 6th. BMO Capital Markets raised Gildan Activewear to a “strong-buy” rating in a research note on Friday, August 2nd. Finally, Citigroup increased their price objective 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. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of C$57.20.

Gildan Activewear Price Performance

The company has a debt-to-equity ratio of 72.52, a quick ratio of 0.87 and a current ratio of 2.35. The company has a market capitalization of C$11.30 billion, a PE ratio of 20.87, a P/E/G ratio of 4.55 and a beta of 1.64. The stock has a 50 day moving average price of C$63.31 and a two-hundred day moving average price of C$55.67.

Gildan Activewear Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 16th will be issued a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date is Thursday, November 21st. Gildan Activewear’s dividend payout ratio is 33.94%.

Insider Buying and Selling at Gildan Activewear

In other Gildan Activewear news, Senior Officer Rhodri Harries sold 32,500 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of C$61.20, for a total value of C$1,989,000.00. In other news, Senior Officer Rhodri Harries sold 32,500 shares of Gildan Activewear stock in a transaction that occurred on 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 Jason De Haan sold 19,105 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of C$42.05, for a total value of C$803,365.25. Insiders have sold 101,620 shares of company stock valued at $4,870,471 in the last 90 days. 2.26% of the stock is currently owned by insiders.

About Gildan Activewear

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.