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

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

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Desjardins upped their target price 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 price objective on shares of 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 lifted their target price 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 equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of C$57.20.

Gildan Activewear Stock Performance

The company has a market cap of C$11.45 billion, a P/E ratio of 21.54, a PEG ratio of 4.55 and a beta of 1.64. The stock’s 50-day moving average price is C$66.66 and its 200-day moving average price is C$58.57. The company has a debt-to-equity ratio of 72.52, a current ratio of 2.35 and a quick ratio of 0.87.

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 paid a $0.205 dividend. 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 (DPR) is currently 33.94%.

Insiders Place Their Bets

In other news, Senior Officer Rhodri Harries sold 32,500 shares of the business’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. Corporate insiders own 2.26% 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.