Gildan Activewear (NYSE:GIL) Reaches New 12-Month High at $46.84

Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL)’s share price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $46.84 and last traded at $46.68, with a volume of 13151 shares. The stock had previously closed at $46.51.

Analyst Upgrades and Downgrades

GIL has been the topic of a number of analyst reports. Stifel Nicolaus raised Gildan Activewear from a “hold” rating to a “buy” rating and upped their target price for the company from $39.00 to $51.00 in a research note on Friday, August 2nd. Royal Bank of Canada upped their target price on Gildan Activewear from $41.00 to $44.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Finally, BMO Capital Markets raised their price target on Gildan Activewear from $43.00 to $47.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, Gildan Activewear has an average rating of “Moderate Buy” and a consensus target price of $44.50.

Gildan Activewear Stock Up 0.3 %

The company has a quick ratio of 0.97, a current ratio of 2.35 and a debt-to-equity ratio of 0.55. The company has a market cap of $7.73 billion, a PE ratio of 15.71, a P/E/G ratio of 1.71 and a beta of 1.43. The business has a 50-day simple moving average of $42.57 and a 200-day simple moving average of $38.61.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued its quarterly earnings results on Thursday, August 1st. The textile maker reported $0.74 earnings per share for the quarter, beating 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 firm had revenue of $862.20 million for the quarter, compared to analyst estimates of $851.10 million. During the same period last year, the company posted $0.63 EPS. Gildan Activewear’s quarterly 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 year.

Gildan Activewear Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Thursday, August 22nd were given a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date was Thursday, August 22nd. Gildan Activewear’s dividend payout ratio (DPR) is 27.70%.

Institutional Investors Weigh In On Gildan Activewear

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP grew its holdings in shares of Gildan Activewear by 8.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,026,458 shares of the textile maker’s stock valued at $33,935,000 after purchasing an additional 76,711 shares during the period. Vanguard Personalized Indexing Management LLC purchased a new stake in shares of Gildan Activewear during the 4th quarter valued at approximately $275,000. Janney Montgomery Scott LLC lifted its holdings in Gildan Activewear by 128.2% in the fourth quarter. Janney Montgomery Scott LLC now owns 49,801 shares of the textile maker’s stock valued at $1,646,000 after acquiring an additional 27,981 shares during the last quarter. Norges Bank purchased a new position in Gildan Activewear in the fourth quarter worth approximately $70,917,000. Finally, Clearbridge Investments LLC acquired a new stake in Gildan Activewear during the fourth quarter worth $246,000. Institutional investors and hedge funds own 82.83% of the company’s stock.

Gildan Activewear Company Profile

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.