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

Shares of Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) hit a new 52-week high on Monday . The stock traded as high as $47.76 and last traded at $47.72, with a volume of 10872 shares traded. The stock had previously closed at $47.66.

Analysts Set New Price Targets

Several research analysts recently issued reports on GIL shares. BMO Capital Markets upped their target price on Gildan Activewear from $43.00 to $47.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Stifel Nicolaus increased their price objective on shares of Gildan Activewear from $51.00 to $54.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Finally, Royal Bank of Canada lifted their price objective on shares of Gildan Activewear from $41.00 to $44.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $44.77.

Gildan Activewear Trading Up 0.1 %

The company’s 50-day moving average is $44.87 and its 200 day moving average is $39.87. The company has a market cap of $7.87 billion, a price-to-earnings ratio of 16.06, a price-to-earnings-growth ratio of 1.81 and a beta of 1.43. The company has a quick ratio of 0.97, a current ratio of 2.35 and a debt-to-equity ratio of 0.55.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its earnings results on Thursday, August 1st. The textile maker reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.03. The firm had revenue of $862.20 million for the quarter, compared to analysts’ expectations of $851.10 million. Gildan Activewear had a return on equity of 24.96% and a net margin of 13.01%. The company’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period last year, the firm earned $0.63 EPS. Research analysts predict that Gildan Activewear Inc. will post 2.92 EPS for the current year.

Gildan Activewear Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Thursday, August 22nd were given a dividend of $0.205 per share. The ex-dividend date was Thursday, August 22nd. This represents a $0.82 dividend on an annualized basis and a dividend yield of 1.73%. Gildan Activewear’s dividend payout ratio (DPR) is 27.70%.

Institutional Investors Weigh In On Gildan Activewear

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cooke & Bieler LP raised its position in shares of Gildan Activewear by 2.7% during the 2nd quarter. Cooke & Bieler LP now owns 10,252,785 shares of the textile maker’s stock worth $388,786,000 after purchasing an additional 271,273 shares during the last quarter. Cardinal Capital Management Inc. increased its stake in Gildan Activewear by 1.5% during the 2nd quarter. Cardinal Capital Management Inc. now owns 2,907,144 shares of the textile maker’s stock worth $110,197,000 after buying an additional 42,094 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Gildan Activewear by 14.4% during the second quarter. The Manufacturers Life Insurance Company now owns 2,568,733 shares of the textile maker’s stock valued at $97,290,000 after acquiring an additional 324,304 shares during the last quarter. EdgePoint Investment Group Inc. lifted its position in shares of Gildan Activewear by 28.0% in the second quarter. EdgePoint Investment Group Inc. now owns 1,863,618 shares of the textile maker’s stock valued at $70,696,000 after acquiring an additional 407,113 shares in the last quarter. Finally, Anson Funds Management LP boosted its stake in shares of Gildan Activewear by 13.8% in the first quarter. Anson Funds Management LP now owns 1,791,705 shares of the textile maker’s stock worth $66,521,000 after acquiring an additional 216,705 shares during the last quarter. Hedge funds and other institutional investors own 82.83% 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.