Gildan Activewear (TSE:GIL) Hits New 1-Year High – Here’s Why

Gildan Activewear Inc. (TSE:GIL) (NYSE:GIL)’s share price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as C$66.25 and last traded at C$66.33, with a volume of 363274 shares changing hands. The stock had previously closed at C$65.00.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. TD Securities upped their price objective on 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. National Bankshares upped their target price on Gildan Activewear from C$58.00 to C$68.00 in a report on Wednesday, October 9th. Desjardins upped their target price on Gildan Activewear from C$63.00 to C$67.00 and gave the company a “buy” rating in a report on Tuesday, August 6th. Citigroup upped their target price on Gildan Activewear from C$44.00 to C$54.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Finally, BMO Capital Markets upgraded Gildan Activewear to a “strong-buy” rating in a report on Friday, August 2nd. One analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of C$56.00.

Gildan Activewear Price Performance

The stock has a market capitalization of C$10.80 billion, a P/E ratio of 19.88, a PEG ratio of 4.55 and a beta of 1.64. The business has a fifty day simple moving average of C$61.69 and a 200-day simple moving average of C$54.67. The company has a debt-to-equity ratio of 72.52, a quick ratio of 0.87 and a current ratio of 2.35.

Gildan Activewear (TSE:GIL) (NYSE:GIL) last issued its earnings results on Thursday, August 1st. The company reported C$1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.99 by C$0.02. Gildan Activewear had a return on equity of 21.95% and a net margin of 13.01%. The company had revenue of C$1.18 billion for the quarter, compared to analysts’ expectations of C$1.17 billion. Sell-side analysts expect that Gildan Activewear Inc. will post 4.5460385 earnings per share for the current fiscal year.

Gildan Activewear Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 16th were issued a $0.28 dividend. This is a boost from Gildan Activewear’s previous quarterly dividend of $0.28. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date of this dividend was Thursday, August 22nd. Gildan Activewear’s dividend payout ratio (DPR) is currently 33.94%.

Insider Buying and Selling

In related news, Director Michener Chandlee purchased 1,196 shares of the stock in a transaction that occurred on Thursday, August 8th. The stock was acquired at an average cost of C$40.85 per share, with a total value of C$48,856.60. In related news, Director Michener Chandlee purchased 1,196 shares of the stock in a transaction that occurred on Thursday, August 8th. The stock was acquired at an average cost 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 stock in a transaction on Friday, September 13th. The shares were sold at an average price of C$61.20, for a total value of C$1,989,000.00. Insiders have sold a total of 101,620 shares of company stock worth $4,870,471 in the last ninety days. 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.