Gildan Activewear (TSE:GIL) Stock: Insider Glenn Chamandy Acquires 100,000 Shares

Gildan Activewear Inc. (TSE:GIL) (NYSE:GIL) Director Glenn Chamandy bought 100,000 shares of the stock in a transaction dated Friday, November 6th. The stock was acquired at an average price of C$49.55 per share, with a total value of C$4,955,000.00. Following the completion of the purchase, the director owned 1,379,665 shares of the company’s stock, valued at C$68,362,400.75. This represents a 7.81% increase in their position.

Gildan Activewear Stock Performance

Shares of GIL stock opened at C$50.63 on Wednesday. The stock has a 50-day moving average of C$60.66 and a 200-day moving average of C$76.09. The company has a debt-to-equity ratio of 145.29, a current ratio of 1.93 and a quick ratio of 0.87. The stock has a market cap of C$9.38 billion, a PE ratio of 99.27, a price-to-earnings-growth ratio of 4.55 and a beta of 1.77. Gildan Activewear Inc. has a one year low of C$43.69 and a one year high of C$100.44.

Gildan Activewear (TSE:GIL) (NYSE:GIL) last posted its quarterly earnings data on Thursday, November 5th. The company reported C$2.18 earnings per share for the quarter. The company had revenue of C$2.08 billion during the quarter. Gildan Activewear had a return on equity of 2.12% and a net margin of 1.33%. As a group, sell-side analysts expect that Gildan Activewear Inc. will post 4.55 earnings per share for the current year.

Gildan Activewear Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 14th. Investors of record on Monday, September 14th were given a dividend of $0.2490 per share. The ex-dividend date was Thursday, August 20th. This represents a $1.00 dividend on an annualized basis and a yield of 2.0%. Gildan Activewear’s payout ratio is currently 186.27%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Desjardins reduced their price objective on shares of Gildan Activewear from C$108.00 to C$90.00 and set a “buy” rating for the company in a research report on Tuesday, November 3rd. National Bank Financial cut their price target on shares of Gildan Activewear from C$107.00 to C$98.00 and set an “outperform” rating on the stock in a report on Monday, October 19th. Scotia cut their price target on shares of Gildan Activewear from C$67.00 to C$53.00 and set a “sector outperform” rating on the stock in a report on Tuesday, November 3rd. Canaccord Genuity Group lowered Gildan Activewear from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 5th. Finally, Scotiabank lowered shares of Gildan Activewear from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 6th. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$80.25.

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 and directly to consumers. 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. and Canada and Polo Ralph Lauren also under a licensing agreement.