Gildan Activewear (NYSE:GIL) Hits New 12-Month High – What’s Next?

Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) shares reached a new 52-week high on Tuesday . The stock traded as high as $50.19 and last traded at $50.16, with a volume of 74354 shares trading hands. The stock had previously closed at $49.12.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Royal Bank of Canada upped their target price on shares of Gildan Activewear from $41.00 to $44.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Stifel Nicolaus upped their price objective on Gildan Activewear from $54.00 to $60.00 and gave the stock a “buy” rating in a report on Friday. Citigroup increased their price objective on Gildan Activewear from $54.00 to $59.00 and gave the company a “buy” rating in a research report on Friday. CIBC upped their price target on Gildan Activewear from $48.00 to $56.00 and gave the company an “outperform” rating in a research note on Friday. Finally, BMO Capital Markets lifted their price objective on Gildan Activewear from $47.00 to $58.00 and gave the stock an “outperform” rating in a research report on Friday. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $50.85.

Gildan Activewear Stock Performance

The stock has a market cap of $7.89 billion, a P/E ratio of 19.42, a PEG ratio of 1.86 and a beta of 1.44. The stock has a fifty day simple moving average of $46.56 and a 200-day simple moving average of $41.04. The company has a quick ratio of 0.98, a current ratio of 2.31 and a debt-to-equity ratio of 0.81.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last announced its quarterly earnings results on Thursday, October 31st. The textile maker reported $0.85 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.85. The business had revenue of $891.10 million for the quarter, compared to the consensus estimate of $882.85 million. Gildan Activewear had a net margin of 13.06% and a return on equity of 26.88%. Gildan Activewear’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same period last year, the company posted $0.74 EPS. Equities analysts expect that Gildan Activewear Inc. will post 2.97 earnings per share for the current fiscal year.

Gildan Activewear Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Thursday, November 21st will be issued a $0.152 dividend. This represents a $0.61 annualized dividend and a dividend yield of 1.21%. The ex-dividend date is Thursday, November 21st. Gildan Activewear’s dividend payout ratio (DPR) is 32.41%.

Institutional Trading of Gildan Activewear

Hedge funds have recently added to or reduced their stakes in the business. Fortis Group Advisors LLC increased its holdings in shares of Gildan Activewear by 3.9% in the third quarter. Fortis Group Advisors LLC now owns 6,601 shares of the textile maker’s stock worth $311,000 after acquiring an additional 246 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Gildan Activewear by 16.9% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,893 shares of the textile maker’s stock valued at $66,000 after purchasing an additional 274 shares during the period. Aristides Capital LLC increased its stake in Gildan Activewear by 4.3% during the 2nd quarter. Aristides Capital LLC now owns 7,617 shares of the textile maker’s stock worth $289,000 after purchasing an additional 314 shares in the last quarter. CWM LLC raised its holdings in Gildan Activewear by 23.0% during the 3rd quarter. CWM LLC now owns 1,698 shares of the textile maker’s stock worth $80,000 after buying an additional 318 shares during the period. Finally, Blue Trust Inc. lifted its stake in Gildan Activewear by 96.1% in the third quarter. Blue Trust Inc. now owns 810 shares of the textile maker’s stock valued at $38,000 after buying an additional 397 shares in the last quarter. Institutional investors and hedge funds own 82.83% of the company’s stock.

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.