Gildan Activewear (TSE:GIL) Sets New 52-Week High on Analyst Upgrade

Gildan Activewear Inc. (TSE:GIL) (NYSE:GIL)’s stock price reached a new 52-week high on Wednesday after Citigroup raised their price target on the stock from C$44.00 to C$54.00. Citigroup currently has a buy rating on the stock. Gildan Activewear traded as high as C$63.68 and last traded at C$63.18, with a volume of 101899 shares. The stock had previously closed at C$63.09.

Other equities research analysts have also recently issued research reports about the company. Desjardins raised their target price on Gildan Activewear from C$63.00 to C$67.00 and gave the stock a “buy” rating in a research note on Tuesday, August 6th. National Bankshares increased their price objective on Gildan Activewear from C$57.00 to C$58.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. BMO Capital Markets upgraded shares of Gildan Activewear to a “strong-buy” rating in a research note on Friday, August 2nd. Finally, TD Securities increased their target price on 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, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Gildan Activewear presently has an average rating of “Buy” and a consensus target price of C$54.00.

Insider Buying and Selling

In related news, Senior Officer Rhodri Harries sold 32,500 shares of the business’s stock in a transaction that occurred 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. In other news, Senior Officer Jason De Haan sold 19,105 shares of Gildan Activewear stock in a transaction on Thursday, August 15th. The stock was sold at an average price of C$42.05, for a total transaction of C$803,365.25. Also, Senior Officer Rhodri Harries sold 32,500 shares of the business’s stock in a transaction that occurred 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 have sold a total of 101,620 shares of company stock worth $4,870,471 in the last three months. Insiders own 2.26% of the company’s stock.

Gildan Activewear Trading Up 0.1 %

The company has a market capitalization of C$10.27 billion, a P/E ratio of 19.26, a P/E/G ratio of 4.55 and a beta of 1.65. The firm’s 50-day moving average price is C$58.04 and its 200 day moving average price is C$52.50. The company has a quick ratio of 0.87, a current ratio of 2.35 and a debt-to-equity ratio of 72.52.

Gildan Activewear (TSE:GIL) (NYSE:GIL) last released its quarterly earnings data on Thursday, August 1st. The company reported C$1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.99 by C$0.02. The company had revenue of C$1.18 billion for 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 research analysts predict that Gildan Activewear Inc. will post 4.5684287 earnings per share for the current year.

Gildan Activewear Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 16th were issued a dividend of $0.28 per share. This is an increase from Gildan Activewear’s previous quarterly dividend of $0.28. The ex-dividend date was Thursday, August 22nd. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.77%. Gildan Activewear’s dividend payout ratio is 33.84%.

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.