Gildan Activewear (TSE:GIL) Reaches New 12-Month Low After Analyst Downgrade

Gildan Activewear Inc. (TSE:GIL) (NYSE:GIL) hit a new 52-week low during trading on Monday after National Bank Financial lowered their price target on the stock from C$107.00 to C$98.00. National Bank Financial currently has an outperform rating on the stock. Gildan Activewear traded as low as C$56.46 and last traded at C$57.37, with a volume of 2,280,781 shares trading hands. The stock had previously closed at C$57.85.

Separately, Desjardins set a C$108.00 price objective on shares of Gildan Activewear and gave the stock a “buy” rating in a research note on Tuesday, July 28th. Three equities research analysts have rated the stock with a Buy rating. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of C$95.33.

Insider Transactions at Gildan Activewear

In other Gildan Activewear news, insider Maria Andrea Pirie Woodbridge sold 8,000 shares of the business’s stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of C$75.93, for a total value of C$607,440.00. Following the completion of the transaction, the insider directly owned 2,243 shares of the company’s stock, valued at approximately C$170,310.99. The trade was a 78.10% decrease in their ownership of the stock. Insiders own 2.26% of the company’s stock.

Gildan Activewear Stock Performance

The company has a current ratio of 1.93, a quick ratio of 0.87 and a debt-to-equity ratio of 145.29. The stock has a market capitalization of C$10.65 billion, a PE ratio of 112.76, a price-to-earnings-growth ratio of 4.55 and a beta of 1.63. The firm’s fifty day moving average price is C$67.05 and its two-hundred day moving average price is C$74.08.

Gildan Activewear (TSE:GIL) (NYSE:GIL) last announced its quarterly earnings results on Thursday, July 30th. The company reported C$1.82 earnings per share (EPS) for the quarter. The firm had revenue of C$1.13 billion for the quarter. Gildan Activewear had a net margin of 1.33% and a return on equity of 2.12%. As a group, equities research analysts forecast that Gildan Activewear Inc. will post 4.55 EPS for the current year.

Gildan Activewear Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 14th. Stockholders of record on Monday, September 14th were paid a dividend of $0.2490 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend was Thursday, August 20th. Gildan Activewear’s dividend payout ratio is presently 186.27%.

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.