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

Gildan Activewear Inc. (TSE:GIL) (NYSE:GIL)’s share price hit a new 52-week high during trading on Wednesday . The company traded as high as C$93.97 and last traded at C$93.66, with a volume of 187273 shares changing hands. The stock had previously closed at C$91.51.

Wall Street Analyst Weigh In

GIL has been the topic of several research reports. Citigroup cut shares of Gildan Activewear from a “buy” rating to a “neutral” rating and increased their price target for the stock from C$60.00 to C$63.00 in a research report on Monday, October 20th. National Bankshares raised their price target on shares of Gildan Activewear from C$91.00 to C$92.00 and gave the company an “outperform” rating in a research report on Thursday, October 23rd. TD Securities upped their price objective on Gildan Activewear from C$74.00 to C$77.00 and gave the stock a “buy” rating in a research report on Tuesday, January 27th. Finally, Desjardins set a C$95.00 price objective on Gildan Activewear and gave the company a “buy” rating in a research note on Friday, December 19th. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of C$81.75.

Gildan Activewear Trading Up 3.0%

The company has a debt-to-equity ratio of 101.26, a quick ratio of 0.87 and a current ratio of 2.31. The company’s 50-day moving average price is C$86.15 and its 200-day moving average price is C$80.95. The firm has a market capitalization of C$17.46 billion, a PE ratio of 30.32, a PEG ratio of 4.55 and a beta of 1.41.

Gildan Activewear (TSE:GIL) (NYSE:GIL) last posted its quarterly earnings results on Wednesday, October 29th. The company reported C$1.00 earnings per share for the quarter. Gildan Activewear had a return on equity of 23.10% and a net margin of 13.05%.The company had revenue of C$1.27 billion for the quarter. On average, sell-side analysts expect that Gildan Activewear Inc. will post 4.5460385 earnings per share for the current year.

Gildan Activewear Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 15th were issued a $0.226 dividend. This represents a $0.90 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Wednesday, November 19th. Gildan Activewear’s payout ratio is presently 28.39%.

Gildan Activewear Company Profile

Gildan is a leading manufacturer of everyday basic apparel. The Company’s product offering includes activewear, underwear, socks, and intimates sold to a broad range of customers, including wholesale distributors, screenprinters, embellishers, retailers or e-commerce platforms, as well as global lifestyle brand companies. Gildan markets its products in North America, Europe, Asia Pacific, and Latin America, under a diversified portfolio of Company-owned brands including Gildan®, Hanes®, Comfort Colors®, American Apparel®, ALLPRO¿, GOLDTOE®, Peds®, Bali®, Playtex®, Maidenform®, Bonds®, as well as Champion® which is under an exclusive licensing agreement for the printwear channel in the U.S.