Gildan Activewear (TSE:GIL) Reaches New 52-Week High – Here’s Why

Gildan Activewear Inc. (TSE:GIL) (NYSE:GIL) reached a new 52-week high during trading on Tuesday . The company traded as high as C$72.71 and last traded at C$72.30, with a volume of 95073 shares trading hands. The stock had previously closed at C$72.00.

Wall Street Analyst Weigh In

GIL has been the subject of a number of research analyst reports. Citigroup upped their target price on Gildan Activewear from C$44.00 to C$54.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. National Bankshares raised their target price 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. Finally, UBS Group raised Gildan Activewear from a “hold” rating to a “strong-buy” rating in a report on Friday, January 10th. Five investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of C$57.20.

Gildan Activewear Trading Down 0.0 %

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 firm has a market capitalization of C$11.90 billion, a P/E ratio of 22.39, a price-to-earnings-growth ratio of 4.55 and a beta of 1.64. The firm has a 50 day moving average price of C$68.76 and a two-hundred day moving average price of C$63.05.

Gildan Activewear (TSE:GIL) (NYSE:GIL) last issued its quarterly earnings results on Thursday, October 31st. The company reported C$1.16 earnings per share for the quarter, hitting analysts’ consensus estimates of C$1.16. Gildan Activewear had a return on equity of 21.95% and a net margin of 13.01%. During the same period in the previous year, the company posted $0.99 EPS. On average, equities research analysts expect that Gildan Activewear Inc. will post 4.5460385 EPS for the current fiscal year.

Gildan Activewear Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 16th were given a $0.205 dividend. The ex-dividend date was Thursday, November 21st. This represents a $0.82 annualized dividend and a dividend yield of 1.12%. Gildan Activewear’s dividend payout ratio (DPR) is presently 33.94%.

Insider Buying and Selling

In other news, Senior Officer Benito Masi sold 10,000 shares of the company’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of C$69.31, for a total value of C$693,102.00. Also, Senior Officer Jason De Haan sold 15,000 shares of the firm’s stock in a transaction that occurred on 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. Company 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.