Gildan Activewear (NYSE:GIL) Hits New 12-Month High – Should You Buy?

Shares of Gildan Activewear Inc. (NYSE:GILGet Free Report) (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. The stock had previously closed at $47.66.

Wall Street Analysts Forecast Growth

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

Read Our Latest Stock Analysis on Gildan Activewear

Gildan Activewear Stock Performance

The business has a 50-day moving average of $44.58 and a 200 day moving average of $39.73. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.35 and a quick ratio of 0.97. The company has a market cap of $7.82 billion, a PE ratio of 16.10, a PEG ratio of 1.81 and a beta of 1.43.

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

Gildan Activewear Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Thursday, August 22nd were paid a $0.205 dividend. The ex-dividend date of this dividend was Thursday, August 22nd. This represents a $0.82 annualized dividend and a dividend yield of 1.74%. Gildan Activewear’s dividend payout ratio (DPR) is 27.70%.

Institutional Trading of Gildan Activewear

Several hedge funds have recently bought and sold shares of the stock. Creative Planning boosted its position in shares of Gildan Activewear by 12.8% in the third quarter. Creative Planning now owns 13,248 shares of the textile maker’s stock worth $624,000 after purchasing an additional 1,505 shares during the period. Willis Investment Counsel boosted its stake in shares of Gildan Activewear by 3.9% in the third quarter. Willis Investment Counsel now owns 34,545 shares of the textile maker’s stock worth $1,627,000 after acquiring an additional 1,296 shares during the period. CWM LLC grew its position 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 in the last quarter. Azzad Asset Management Inc. ADV raised its stake 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 period. Finally, Aristides Capital LLC lifted its holdings in Gildan Activewear by 4.3% in the 2nd quarter. Aristides Capital LLC now owns 7,617 shares of the textile maker’s stock worth $289,000 after purchasing an additional 314 shares in the last quarter. Institutional investors own 82.83% of the company’s stock.

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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