Gildan Activewear (TSE:GIL) Hits New 12-Month High – Time to Buy?

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

Wall Street Analyst Weigh In

GIL has been the topic of several recent research reports. Citigroup upped their price target on Gildan Activewear from C$44.00 to C$54.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Desjardins boosted their target price on Gildan Activewear from C$63.00 to C$67.00 and gave the stock a “buy” rating in a research note on Tuesday, August 6th. Finally, National Bankshares raised their price objective on shares of Gildan Activewear from C$68.00 to C$74.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Gildan Activewear currently has an average rating of “Buy” and a consensus target price of C$57.20.

Gildan Activewear Price Performance

The firm has a market capitalization of C$11.45 billion, a P/E ratio of 21.54, a P/E/G ratio of 4.55 and a beta of 1.64. The company has a current ratio of 2.35, a quick ratio of 0.87 and a debt-to-equity ratio of 72.52. The business’s fifty day moving average is C$66.66 and its 200 day moving average is C$58.57.

Gildan Activewear Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 16th will be issued a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a dividend yield of ∞. The ex-dividend date is Thursday, November 21st. Gildan Activewear’s dividend payout ratio is currently 33.94%.

Insider Activity

In other Gildan Activewear news, Senior Officer Rhodri Harries sold 32,500 shares of the company’s stock in a transaction 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. Also, 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 value of C$1,040,179.14. 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.