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

Shares of Gildan Activewear Inc. (TSE:GIL) (NYSE:GIL) reached 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

GIL has been the subject of a number of analyst reports. Desjardins lifted their price target on 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. National Bankshares lifted their price target on Gildan Activewear from C$57.00 to C$58.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. TD Securities lifted 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, BMO Capital Markets upgraded Gildan Activewear to a “strong-buy” rating in a research note on Friday, August 2nd. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of C$54.00.

Gildan Activewear Trading Up 1.3 %

The stock has a market cap of C$10.21 billion, a P/E ratio of 19.14, a PEG ratio of 4.55 and a beta of 1.65. The firm’s fifty day moving average price is C$57.27 and its two-hundred day moving average price is C$52.03. The company has a debt-to-equity ratio of 72.52, a current ratio of 2.35 and a quick ratio of 0.87.

Gildan Activewear (TSE:GIL) (NYSE:GIL) last released its quarterly earnings results on Thursday, August 1st. The company reported C$1.01 earnings per share for the quarter, topping the consensus estimate of C$0.99 by C$0.02. Gildan Activewear had a net margin of 13.01% and a return on equity of 21.95%. The firm had revenue of C$1.18 billion for the quarter, compared to analysts’ expectations of C$1.17 billion. As a group, equities research analysts forecast that Gildan Activewear Inc. will post 4.5683346 EPS for the current year.

Gildan Activewear Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 16th were given a $0.28 dividend. The ex-dividend date of this dividend was Thursday, August 22nd. This is a positive change from Gildan Activewear’s previous quarterly dividend of $0.28. This represents a $1.12 annualized dividend and a yield of 1.78%. Gildan Activewear’s payout ratio is 34.15%.

Insider Buying and Selling at Gildan Activewear

In other Gildan Activewear news, Senior Officer Rhodri Harries sold 32,500 shares of the firm’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of C$61.20, for a total value of C$1,989,000.00. In other Gildan Activewear news, Director Michener Chandlee purchased 1,196 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was bought at an average price of C$40.85 per share, with a total value of C$48,856.60. Also, Senior Officer Rhodri Harries sold 32,500 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of C$61.20, for a total transaction of C$1,989,000.00. Insiders sold a total of 101,620 shares of company stock worth $4,870,471 over the last three months. Company insiders own 2.26% of the company’s stock.

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.