Gildan Activewear (TSE:GIL) Hits New 1-Year High – What’s Next?

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$70.43 and last traded at C$70.29, with a volume of 27683 shares traded. The stock had previously closed at C$69.63.

Analyst Ratings Changes

A number of brokerages have recently commented on GIL. BMO Capital Markets raised Gildan Activewear to a “strong-buy” rating in a research report on Friday, August 2nd. TD Securities raised their target price on shares of Gildan Activewear from C$46.00 to C$50.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Desjardins increased 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 report on Tuesday, August 6th. National Bankshares increased their price target on shares of Gildan Activewear from C$68.00 to C$74.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Finally, Citigroup lifted their target price on Gildan Activewear from C$44.00 to C$54.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. One equities research 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of C$57.20.

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 firm has a market cap of C$11.34 billion, a P/E ratio of 21.29, a PEG ratio of 4.55 and a beta of 1.64. The firm has a 50-day simple moving average of C$65.71 and a 200-day simple moving average of C$57.58.

Gildan Activewear Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 16th will be given a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a dividend yield of 1.18%. The ex-dividend date of this dividend is Thursday, November 21st. Gildan Activewear’s payout ratio is 33.94%.

Insider Buying and Selling at Gildan Activewear

In related news, Director Michener Chandlee purchased 736 shares of Gildan Activewear stock in a transaction on Monday, November 4th. The shares were bought at an average price of C$67.83 per share, with a total value of C$49,920.57. Also, Senior Officer Rhodri Harries sold 32,500 shares of Gildan Activewear stock in a transaction dated Friday, September 13th. The stock was sold at an average price of C$61.20, for a total value of C$1,989,000.00. 2.26% of the stock is owned by insiders.

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.