Gildan Activewear (NYSE:GIL) Sets New 1-Year High – Here’s What Happened

Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) hit a new 52-week high on Monday . The stock traded as high as $47.76 and last traded at $47.72, with a volume of 10872 shares trading hands. The stock had previously closed at $47.66.

Wall Street Analysts Forecast Growth

GIL has been the subject of a number of recent research reports. Stifel Nicolaus boosted their price objective on Gildan Activewear from $51.00 to $54.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. BMO Capital Markets boosted their price target on shares of Gildan Activewear from $43.00 to $47.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Finally, Royal Bank of Canada increased their price objective on shares of Gildan Activewear from $41.00 to $44.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $44.77.

Gildan Activewear Stock Down 1.0 %

The company has a current ratio of 2.35, a quick ratio of 0.97 and a debt-to-equity ratio of 0.55. The firm has a market cap of $7.82 billion, a P/E ratio of 16.10, a price-to-earnings-growth ratio of 1.81 and a beta of 1.43. The stock’s fifty day moving average is $44.58 and its two-hundred day moving average is $39.73.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued its quarterly earnings data on Thursday, August 1st. The textile maker reported $0.74 EPS for the quarter, topping the consensus estimate of $0.71 by $0.03. Gildan Activewear had a return on equity of 24.96% and a net margin of 13.01%. The company had revenue of $862.20 million during the quarter, compared to analyst estimates of $851.10 million. During the same quarter in the previous year, the firm earned $0.63 earnings per share. Gildan Activewear’s revenue was up 2.6% on a year-over-year basis. As a group, research analysts anticipate that Gildan Activewear Inc. will post 2.92 earnings per share for the current year.

Gildan Activewear Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Thursday, August 22nd were given a dividend of $0.205 per share. The ex-dividend date was Thursday, August 22nd. This represents a $0.82 dividend on an annualized basis and a yield of 1.74%. Gildan Activewear’s payout ratio is 27.70%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in GIL. EverSource Wealth Advisors LLC lifted its stake in Gildan Activewear by 16.9% in the first quarter. EverSource Wealth Advisors LLC now owns 1,893 shares of the textile maker’s stock worth $66,000 after purchasing an additional 274 shares during the last quarter. Aristides Capital LLC raised its stake in shares of Gildan Activewear by 4.3% during the second quarter. Aristides Capital LLC now owns 7,617 shares of the textile maker’s stock valued at $289,000 after acquiring an additional 314 shares during the last quarter. CWM LLC boosted its holdings in shares of Gildan Activewear by 23.0% during the third quarter. CWM LLC now owns 1,698 shares of the textile maker’s stock worth $80,000 after purchasing an additional 318 shares during the period. Orion Portfolio Solutions LLC grew its stake in shares of Gildan Activewear by 1.5% in the first quarter. Orion Portfolio Solutions LLC now owns 35,893 shares of the textile maker’s stock worth $1,333,000 after purchasing an additional 535 shares during the last quarter. Finally, Azzad Asset Management Inc. ADV raised its position in Gildan Activewear by 0.5% during the 3rd quarter. Azzad Asset Management Inc. ADV now owns 109,947 shares of the textile maker’s stock valued at $5,180,000 after purchasing an additional 577 shares during the last quarter. 82.83% of the stock is owned by hedge funds and other institutional investors.

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.