Gildan Activewear (TSE:GIL) Hits New 1-Year High Following Analyst Upgrade

Gildan Activewear Inc. (TSE:GIL) (NYSE:GIL)’s stock price reached a new 52-week high during mid-day trading 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 changing hands. The stock had previously closed at C$63.09.

Several other equities research analysts have also commented on the stock. TD Securities raised their price target on shares of 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. National Bankshares raised their target price on Gildan Activewear from C$57.00 to C$58.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. BMO Capital Markets upgraded Gildan Activewear to a “strong-buy” rating in a research report on Friday, August 2nd. Finally, Desjardins lifted their price objective 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. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Gildan Activewear presently has an average rating of “Buy” and an average price target of C$54.00.

Insider Activity

In related news, Senior Officer Benito Masi sold 50,000 shares of the business’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, Director Michener Chandlee bought 1,196 shares of Gildan Activewear stock in a transaction dated Thursday, August 8th. The stock was acquired at an average cost of C$40.85 per share, with a total value of C$48,856.60. Also, Senior Officer Benito Masi sold 50,000 shares of the stock in a transaction 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 the last quarter, insiders sold 101,620 shares of company stock worth $4,870,471. Corporate insiders own 2.26% of the company’s stock.

Gildan Activewear Price Performance

The business’s 50 day simple moving average is C$58.23 and its 200 day simple moving average is C$52.57. The company has a market capitalization of C$10.41 billion, a PE ratio of 19.51, a price-to-earnings-growth 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.

Gildan Activewear (TSE:GIL) (NYSE:GIL) last issued its quarterly earnings results on Thursday, August 1st. The company reported C$1.01 EPS for the quarter, beating 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 business had revenue of C$1.18 billion during the quarter, compared to the consensus estimate of C$1.17 billion. As a group, analysts forecast that Gildan Activewear Inc. will post 4.5684287 EPS for the current year.

Gildan Activewear Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 16th were given a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of ∞. The ex-dividend date was Thursday, August 22nd. This is a boost from Gildan Activewear’s previous quarterly dividend of $0.28. Gildan Activewear’s dividend payout ratio (DPR) is 33.84%.

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.