Gildan Activewear (TSE:GIL) Sets New 52-Week High at $54.50

Gildan Activewear Inc. (TSE:GIL) (NYSE:GIL)’s stock price hit a new 52-week high during trading on Friday . The stock traded as high as C$54.50 and last traded at C$54.38, with a volume of 78849 shares trading hands. The stock had previously closed at C$53.64.

Wall Street Analysts Forecast Growth

Separately, National Bankshares dropped their price objective on shares of Gildan Activewear from C$58.00 to C$57.00 and set an “outperform” rating for the company in a research note on Friday, May 24th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$46.80.

Gildan Activewear Stock Performance

The company has a current ratio of 2.38, a quick ratio of 0.87 and a debt-to-equity ratio of 64.76. The company’s 50-day simple moving average is C$50.45 and its 200-day simple moving average is C$47.85. The stock has a market capitalization of C$9.09 billion, a price-to-earnings ratio of 13.31, a PEG ratio of 3.54 and a beta of 1.63.

Gildan Activewear (TSE:GIL) (NYSE:GIL) last announced its quarterly earnings results on Wednesday, May 1st. The company reported C$0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.72 by C$0.08. Gildan Activewear had a net margin of 16.14% and a return on equity of 26.88%. The firm had revenue of C$938.04 million during the quarter, compared to analysts’ expectations of C$956.47 million. On average, analysts expect that Gildan Activewear Inc. will post 4.0599002 EPS for the current year.

Gildan Activewear Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 17th were given a dividend of $0.277 per share. The ex-dividend date was Wednesday, May 22nd. This is a boost from Gildan Activewear’s previous quarterly dividend of $0.28. This represents a $1.11 annualized dividend and a dividend yield of 2.05%. Gildan Activewear’s dividend payout ratio is 28.04%.

Insider Transactions at Gildan Activewear

In other news, Senior Officer Rhodri Harries sold 28,698 shares of the stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of C$39.00, for a total transaction of C$1,119,222.00. In other Gildan Activewear news, Senior Officer Rhodri Harries sold 28,698 shares of the firm’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of C$39.00, for a total value of C$1,119,222.00. Also, Senior Officer Juan Carlos Contreras Contreras Y. Contreras sold 4,350 shares of the firm’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of C$37.06, for a total transaction of C$161,200.13. 2.17% of the stock is currently 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.