Gildan Activewear (TSE:GIL) Hits New 12-Month High – Here’s Why

Shares of Gildan Activewear Inc. (TSE:GIL) (NYSE:GIL) reached 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.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. TD Securities boosted their price objective on shares of Gildan Activewear from C$46.00 to C$50.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Citigroup upped their price target on Gildan Activewear from C$44.00 to C$54.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. Desjardins raised their price objective 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. BMO Capital Markets raised Gildan Activewear to a “strong-buy” rating in a research note on Friday, August 2nd. Finally, National Bankshares increased their target price on shares of Gildan Activewear from C$58.00 to C$68.00 in a research report on Wednesday, October 9th. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of C$56.00.

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 business has a 50 day moving average price of C$60.80 and a 200-day moving average price of C$54.15. The company has a market capitalization of C$10.63 billion, a price-to-earnings ratio of 20.10, a P/E/G ratio of 4.55 and a beta of 1.64.

Gildan Activewear (TSE:GIL) (NYSE:GIL) last issued its quarterly earnings results on Thursday, August 1st. The company reported C$1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.99 by C$0.02. The firm 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%. Research analysts predict that Gildan Activewear Inc. will post 4.5460385 EPS for the current fiscal year.

Gildan Activewear Increases Dividend

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

Insider Buying and Selling at Gildan Activewear

In other news, Senior Officer Rhodri Harries sold 32,500 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of C$61.20, for a total transaction of C$1,989,000.00. In other Gildan Activewear news, Director Michener Chandlee purchased 1,196 shares of Gildan Activewear stock in a transaction that occurred on Thursday, August 8th. The stock was acquired at an average price of C$40.85 per share, with a total value of C$48,856.60. Also, Senior Officer Rhodri Harries sold 32,500 shares of the company’s stock in a transaction 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. Over the last ninety days, insiders sold 101,620 shares of company stock valued at $4,870,471. Corporate insiders own 2.26% of the company’s stock.

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.