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

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

Analyst Upgrades and Downgrades

A number of brokerages have commented on GIL. TD Securities upped their price objective on shares of 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. National Bankshares raised their price objective 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. Citigroup lowered Gildan Activewear from a “buy” rating to a “neutral” rating and lifted their price objective for the company from C$60.00 to C$63.00 in a report on Monday, October 20th. Finally, Desjardins set a C$95.00 target price on Gildan Activewear and gave the stock a “buy” rating in a research note on Friday, December 19th. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of C$81.75.

Gildan Activewear Price Performance

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

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

Gildan Activewear Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 15th were paid a dividend of $0.226 per share. 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 28.39%.

About Gildan Activewear

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.