Gildan Activewear (NYSE:GIL) Sets New 12-Month High at $42.09

Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL)’s share price hit a new 52-week high during trading on Monday . The stock traded as high as $42.09 and last traded at $41.84, with a volume of 127066 shares changing hands. The stock had previously closed at $41.70.

Analysts Set New Price Targets

GIL has been the subject of several recent research reports. Canaccord Genuity Group boosted their price target on Gildan Activewear from $42.00 to $43.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Canaccord Genuity Group upped their price target on Gildan Activewear from $42.00 to $43.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. BMO Capital Markets lifted 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 raised Gildan Activewear from a “hold” rating to a “buy” rating and boosted their target price for the stock from $39.00 to $51.00 in a research note on Friday, August 2nd. Finally, Royal Bank of Canada boosted their target price on Gildan Activewear from $41.00 to $44.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, Gildan Activewear has a consensus rating of “Moderate Buy” and an average target price of $44.50.

Gildan Activewear Stock Down 0.7 %

The stock has a market cap of $6.89 billion, a P/E ratio of 14.15, a price-to-earnings-growth ratio of 1.56 and a beta of 1.43. The company has a current ratio of 2.38, a quick ratio of 0.92 and a debt-to-equity ratio of 0.48. The stock’s fifty day moving average price is $39.07 and its 200 day moving average price is $36.58.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last announced its earnings results on Thursday, August 1st. The textile maker reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.03. The company had revenue of $862.20 million during the quarter, compared to analyst estimates of $851.10 million. Gildan Activewear had a net margin of 13.01% and a return on equity of 24.62%. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.63 earnings per share. As a group, research analysts forecast that Gildan Activewear Inc. will post 2.95 earnings per share for the current fiscal year.

Gildan Activewear Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Thursday, August 22nd will be given a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date is Thursday, August 22nd. Gildan Activewear’s dividend payout ratio is presently 27.70%.

Institutional Trading of Gildan Activewear

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Norges Bank purchased a new position in shares of Gildan Activewear in the fourth quarter valued at $70,917,000. Browning West LP increased its holdings in shares of Gildan Activewear by 30.0% in the 4th quarter. Browning West LP now owns 8,640,448 shares of the textile maker’s stock valued at $285,653,000 after acquiring an additional 1,994,900 shares during the last quarter. Intact Investment Management Inc. grew its stake in Gildan Activewear by 204.8% during the 2nd quarter. Intact Investment Management Inc. now owns 881,100 shares of the textile maker’s stock worth $33,416,000 after buying an additional 591,980 shares during the last quarter. National Bank of Canada FI grew its stake in Gildan Activewear by 43.8% during the 1st quarter. National Bank of Canada FI now owns 1,762,761 shares of the textile maker’s stock worth $65,451,000 after buying an additional 537,215 shares during the last quarter. Finally, Strs Ohio grew its stake in shares of Gildan Activewear by 443.6% in the fourth quarter. Strs Ohio now owns 588,202 shares of the textile maker’s stock worth $19,547,000 after purchasing an additional 480,000 shares in the last quarter. 82.83% of the stock is currently owned by hedge funds and other institutional investors.

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.