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

Gildan Activewear Inc. (TSE:GIL) (NYSE:GIL) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as C$70.89 and last traded at C$70.76, with a volume of 62482 shares trading hands. The stock had previously closed at C$69.60.

Analysts Set New Price Targets

Several research analysts have recently commented on GIL shares. Desjardins lifted their price target on shares of Gildan Activewear from C$63.00 to C$67.00 and gave the company a “buy” rating in a report on Tuesday, August 6th. Citigroup upped their target price on Gildan Activewear from C$44.00 to C$54.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Finally, National Bankshares increased their price target on Gildan Activewear from C$68.00 to C$74.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of C$57.20.

Gildan Activewear Price Performance

The company has a debt-to-equity ratio of 72.52, a quick ratio of 0.87 and a current ratio of 2.35. The stock has a market capitalization of C$11.56 billion, a price-to-earnings ratio of 21.28, a price-to-earnings-growth ratio of 4.55 and a beta of 1.64. The business’s 50 day simple moving average is C$66.50 and its 200-day simple moving average is C$58.39.

Gildan Activewear Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 16th will be issued a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date of this dividend is Thursday, November 21st. Gildan Activewear’s dividend payout ratio (DPR) is 33.94%.

Insider Activity at Gildan Activewear

In other news, Senior Officer Jason De Haan sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of C$69.35, for a total transaction of C$1,040,179.14. Also, Senior Officer Rhodri Harries sold 32,500 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of C$61.20, for a total transaction 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.