Gildan Activewear (TSE:GIL) Reaches New 1-Year High – Here’s What Happened

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

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. BMO Capital Markets upgraded shares of Gildan Activewear to a “strong-buy” rating in a research report on Friday, August 2nd. TD Securities lifted their target price on shares of Gildan Activewear from C$46.00 to C$50.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Citigroup increased their price target on Gildan Activewear from C$44.00 to C$54.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. National Bankshares lifted their price objective on Gildan Activewear from C$68.00 to C$74.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Finally, Desjardins increased their target price on Gildan Activewear from C$63.00 to C$67.00 and gave the company a “buy” rating in a research note on Tuesday, August 6th. One investment 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’s stock. According to MarketBeat, Gildan Activewear currently has a consensus rating of “Buy” and a consensus target price of C$57.20.

Gildan Activewear Trading Down 1.1 %

The company has a quick ratio of 0.87, a current ratio of 2.35 and a debt-to-equity ratio of 72.52. The stock has a market capitalization of C$11.09 billion, a P/E ratio of 20.86, a price-to-earnings-growth ratio of 4.55 and a beta of 1.64. The company has a fifty day simple moving average of C$63.96 and a two-hundred day simple moving average of C$56.07.

Gildan Activewear Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 16th will be given a $0.205 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $0.82 annualized dividend and a dividend yield of 1.20%. Gildan Activewear’s dividend payout ratio is presently 33.94%.

Insiders Place Their Bets

In related news, Senior Officer Benito Masi sold 50,000 shares of the firm’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of C$41.55, for a total transaction of C$2,077,495.00. In related news, Senior Officer Benito Masi sold 50,000 shares of the stock in a transaction dated Monday, August 12th. The stock was sold at an average price of C$41.55, for a total transaction of C$2,077,495.00. Also, Senior Officer Jason De Haan sold 19,105 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of C$42.05, for a total value of C$803,365.25. In the last three months, insiders have sold 116,620 shares of company stock worth $5,910,650. Company insiders own 2.26% of the company’s stock.

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.