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

Gildan Activewear Inc. (TSE:GIL) (NYSE:GIL)’s share price reached a new 52-week high on Monday . The company traded as high as C$70.89 and last traded at C$70.76, with a volume of 62482 shares traded. The stock had previously closed at C$69.60.

Wall Street Analysts Forecast Growth

A number of research firms have commented on GIL. National Bankshares increased their price target 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 lifted their target price on shares of Gildan Activewear from C$63.00 to C$67.00 and gave the company a “buy” rating in a report on Tuesday, August 6th. Finally, Citigroup increased their price target on shares of Gildan Activewear from C$44.00 to C$54.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. 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. According to data from MarketBeat, Gildan Activewear currently has an average rating of “Buy” and a consensus price target of C$57.20.

Gildan Activewear Stock Performance

The firm has a market capitalization of C$11.56 billion, a price-to-earnings ratio of 21.28, a P/E/G ratio of 4.55 and a beta of 1.64. 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 50-day moving average price of C$66.50 and a 200 day moving average price of C$58.39.

Gildan Activewear Cuts Dividend

The business 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 dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date of this dividend is Thursday, November 21st. Gildan Activewear’s dividend payout ratio is presently 33.94%.

Insiders Place Their Bets

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

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.