Gildan Activewear (NYSE:GIL) Reaches New 52-Week High at $43.00

Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL)’s share price reached a new 52-week high on Wednesday . The stock traded as high as $43.00 and last traded at $42.79, with a volume of 48962 shares trading hands. The stock had previously closed at $42.61.

Wall Street Analyst Weigh In

GIL has been the subject of several research reports. Royal Bank of Canada lifted their price objective on shares of Gildan Activewear from $41.00 to $44.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. BMO Capital Markets increased their price target on Gildan Activewear from $43.00 to $47.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Canaccord Genuity Group boosted their price objective on Gildan Activewear from $42.00 to $43.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. Stifel Nicolaus upgraded shares of Gildan Activewear from a “hold” rating to a “buy” rating and upped their price objective for the stock from $39.00 to $51.00 in a research report on Friday, August 2nd. Finally, Canaccord Genuity Group boosted their target price on shares of Gildan Activewear from $42.00 to $43.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Gildan Activewear presently has an average rating of “Moderate Buy” and an average target price of $44.50.

Gildan Activewear Stock Performance

The company has a market capitalization of $7.08 billion, a price-to-earnings ratio of 14.46, a price-to-earnings-growth ratio of 1.56 and a beta of 1.43. The stock’s fifty day simple moving average is $39.47 and its 200-day simple moving average is $36.88. The company has a current ratio of 2.38, a quick ratio of 0.92 and a debt-to-equity ratio of 0.48.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last announced its quarterly earnings data on Thursday, August 1st. The textile maker reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.03. Gildan Activewear had a net margin of 13.01% and a return on equity of 24.62%. The business had revenue of $862.20 million for the quarter, compared to analyst estimates of $851.10 million. During the same period last year, the business earned $0.63 EPS. The company’s revenue was up 2.6% on a year-over-year basis. Analysts predict that Gildan Activewear Inc. will post 2.95 EPS for the current year.

Gildan Activewear Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Thursday, August 22nd will be issued a dividend of $0.205 per share. The ex-dividend date of this dividend is Thursday, August 22nd. This represents a $0.82 dividend on an annualized basis and a yield of 1.92%. Gildan Activewear’s payout ratio is currently 27.70%.

Institutional Investors Weigh In On Gildan Activewear

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Cooke & Bieler LP lifted its stake in Gildan Activewear by 2.7% in the second quarter. Cooke & Bieler LP now owns 10,252,785 shares of the textile maker’s stock valued at $388,786,000 after buying an additional 271,273 shares during the last quarter. Browning West LP raised its position in 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 purchasing an additional 1,994,900 shares during the last quarter. Cardinal Capital Management Inc. boosted its stake in Gildan Activewear by 1.5% during the 2nd quarter. Cardinal Capital Management Inc. now owns 2,907,144 shares of the textile maker’s stock worth $110,197,000 after purchasing an additional 42,094 shares during the period. The Manufacturers Life Insurance Company grew its position in Gildan Activewear by 14.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,568,733 shares of the textile maker’s stock worth $97,290,000 after purchasing an additional 324,304 shares during the last quarter. Finally, Norges Bank acquired a new position in Gildan Activewear in the fourth quarter valued at $70,917,000. 82.83% of the stock is currently owned by institutional investors and hedge funds.

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.