Gildan Activewear (TSE:GIL) Sets New 52-Week High at $59.18

Shares of Gildan Activewear Inc. (TSE:GIL) (NYSE:GIL) hit a new 52-week high during trading on Tuesday . The company traded as high as C$59.18 and last traded at C$59.10, with a volume of 18490 shares changing hands. The stock had previously closed at C$58.99.

Analysts Set New Price Targets

A number of analysts have recently commented on GIL shares. BMO Capital Markets upgraded shares of Gildan Activewear to a “strong-buy” rating in a report on Friday, August 2nd. Desjardins boosted 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. National Bankshares boosted their target price on shares of Gildan Activewear from C$57.00 to C$58.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Finally, TD Securities boosted their target price on shares of Gildan Activewear from C$46.00 to C$50.00 and gave the company a “buy” rating in a report on Friday, August 2nd. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Gildan Activewear currently has a consensus rating of “Buy” and a consensus price target of C$54.00.

Gildan Activewear Trading Down 0.2 %

The firm has a 50-day moving average price of C$54.77 and a 200-day moving average price of C$50.60. The company has a debt-to-equity ratio of 72.52, a quick ratio of 0.87 and a current ratio of 2.35. The stock has a market cap of C$9.79 billion, a PE ratio of 18.24, a price-to-earnings-growth ratio of 4.55 and a beta of 1.64.

Gildan Activewear (TSE:GIL) (NYSE:GIL) last posted its quarterly earnings results on Thursday, August 1st. The company reported C$1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.99 by C$0.02. The firm had revenue of C$1.18 billion during the quarter, compared to analyst estimates of C$1.17 billion. Gildan Activewear had a return on equity of 21.95% and a net margin of 13.01%. As a group, equities analysts anticipate that Gildan Activewear Inc. will post 4.2801183 EPS for the current fiscal year.

Gildan Activewear Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 16th will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 1.86%. The ex-dividend date is Thursday, August 22nd. This is a positive change from Gildan Activewear’s previous quarterly dividend of $0.28. Gildan Activewear’s payout ratio is currently 34.24%.

Insider Transactions at Gildan Activewear

In other Gildan Activewear news, Senior Officer Jason De Haan sold 19,105 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of C$42.05, for a total value of C$803,365.25. In other Gildan Activewear news, Senior Officer Benito Masi sold 50,000 shares of the business’s stock in a transaction dated 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. Also, Senior Officer Jason De Haan sold 19,105 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of C$42.05, for a total value of C$803,365.25. Insiders sold a total of 97,818 shares of company stock valued at $4,000,693 in the last quarter. 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.