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

Gildan Activewear Inc. (TSE:GIL) (NYSE:GIL) hit a new 52-week high on Monday . The stock traded as high as C$70.43 and last traded at C$70.29, with a volume of 27683 shares changing hands. The stock had previously closed at C$69.63.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. TD Securities raised their price objective on shares of Gildan Activewear from C$46.00 to C$50.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Citigroup upped their price objective 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 upped their price objective on Gildan Activewear from C$68.00 to C$74.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Desjardins boosted their price objective 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. Finally, BMO Capital Markets upgraded Gildan Activewear to a “strong-buy” rating in a research report on Friday, August 2nd. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of C$57.20.

Gildan Activewear Stock Performance

The company has a debt-to-equity ratio of 72.52, a current ratio of 2.35 and a quick ratio of 0.87. The stock has a market cap of C$11.38 billion, a P/E ratio of 21.30, a price-to-earnings-growth ratio of 4.55 and a beta of 1.64. The company has a 50 day simple moving average of C$66.06 and a 200-day simple moving average of C$57.89.

Gildan Activewear Cuts Dividend

The firm 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 $0.205 dividend. The ex-dividend date is Thursday, November 21st. This represents a $0.82 dividend on an annualized basis and a dividend yield of 1.17%. Gildan Activewear’s payout ratio is 33.94%.

Insider Activity at Gildan Activewear

In other news, Senior Officer Rhodri Harries sold 32,500 shares of the company’s 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. Also, Senior Officer Jason De Haan sold 15,000 shares of the stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of C$69.35, for a total transaction of C$1,040,179.14. 2.26% of the stock is 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.