Gildan Activewear (TSE:GIL) Hits New 52-Week High – Here’s Why

Gildan Activewear Inc. (TSE:GILGet Free Report) (NYSE:GIL)’s stock price reached a new 52-week high during trading on Tuesday . The stock traded as high as C$72.71 and last traded at C$72.30, with a volume of 95073 shares traded. The stock had previously closed at C$72.00.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on GIL. UBS Group raised shares of Gildan Activewear from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 10th. Citigroup raised their target price on Gildan Activewear from C$44.00 to C$54.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Finally, National Bankshares upped their price target on Gildan Activewear from C$68.00 to C$74.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Five research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of C$57.20.

View Our Latest Stock Analysis on GIL

Gildan Activewear Price Performance

The company has a current ratio of 2.35, a quick ratio of 0.87 and a debt-to-equity ratio of 72.52. The business’s fifty day moving average is C$68.66 and its 200 day moving average is C$62.90. The company has a market cap of C$11.76 billion, a P/E ratio of 22.11, a PEG ratio of 4.55 and a beta of 1.64.

Gildan Activewear Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 16th were given a dividend of $0.205 per share. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $0.82 dividend on an annualized basis and a dividend yield of 1.13%. Gildan Activewear’s dividend payout ratio is presently 33.94%.

Insider Transactions at Gildan Activewear

In related news, Senior Officer Benito Masi sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of C$69.31, for a total value of C$693,102.00. Also, Director Michener Chandlee bought 736 shares of the stock in a transaction on Monday, November 4th. The shares were acquired at an average cost of C$67.83 per share, for a total transaction of C$49,920.57. 2.26% of the stock is owned by corporate insiders.

About Gildan Activewear

(Get Free Report)

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.

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