Gildan Activewear (TSE:GIL) Sets New 1-Year High at $62.07

Gildan Activewear Inc. (TSE:GIL) (NYSE:GIL)’s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as C$62.07 and last traded at C$61.96, with a volume of 147075 shares trading hands. The stock had previously closed at C$61.17.

Analyst Upgrades and Downgrades

Several research firms recently commented on GIL. Desjardins upped their price target on shares of Gildan Activewear from C$63.00 to C$67.00 and gave the company a “buy” rating in a research note on Tuesday, August 6th. BMO Capital Markets raised shares of Gildan Activewear to a “strong-buy” rating in a report on Friday, August 2nd. TD Securities boosted their price target 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. Finally, National Bankshares raised their price objective on Gildan Activewear from C$57.00 to C$58.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of C$54.00.

Gildan Activewear Price Performance

The firm has a market capitalization of C$10.07 billion, a P/E ratio of 18.91, a PEG ratio of 4.55 and a beta of 1.65. 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 business’s 50 day moving average is C$56.67 and its 200-day moving average is C$51.76.

Gildan Activewear (TSE:GIL) (NYSE:GIL) last issued its quarterly earnings results on Thursday, August 1st. The company reported C$1.01 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of C$1.17 billion. As a group, sell-side analysts predict that Gildan Activewear Inc. will post 4.5683346 EPS for the current fiscal year.

Gildan Activewear Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 16th will be issued a $0.28 dividend. The ex-dividend date of this dividend is Thursday, August 22nd. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.81%. This is a boost from Gildan Activewear’s previous quarterly dividend of $0.28. Gildan Activewear’s dividend payout ratio is 34.15%.

Insider Activity at Gildan Activewear

In other Gildan Activewear news, Senior Officer Benito Masi sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of C$41.55, for a total value of C$2,077,495.00. In related news, Senior Officer Jason De Haan sold 19,105 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of C$42.05, for a total value of C$803,365.25. Also, Senior Officer Benito Masi sold 50,000 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of C$41.55, for a total value of C$2,077,495.00. In the last three months, insiders have sold 101,620 shares of company stock valued at $4,870,471. 2.26% of the stock is owned by 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.