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

Gildan Activewear Inc. (TSE:GIL) (NYSE:GIL)’s stock price hit a new 52-week high on Wednesday . The stock traded as high as C$71.55 and last traded at C$71.00, with a volume of 5397 shares trading hands. The stock had previously closed at C$70.65.

Wall Street Analyst Weigh In

GIL has been the topic of a number of research analyst reports. UBS Group raised shares of Gildan Activewear from a “hold” rating to a “strong-buy” rating in a report on Friday, January 10th. Citigroup lifted their price objective on shares of Gildan Activewear from C$44.00 to C$54.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. Finally, National Bankshares increased their target price on shares of Gildan Activewear from C$68.00 to C$74.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Five analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of C$57.20.

Gildan Activewear Stock Up 0.4 %

The company has a market capitalization of C$11.59 billion, a P/E ratio of 21.80, a price-to-earnings-growth ratio of 4.55 and a beta of 1.64. The company has a 50-day moving average of C$68.50 and a two-hundred day moving average of C$62.62. The company has a quick ratio of 0.87, a current ratio of 2.35 and a debt-to-equity ratio of 72.52.

Gildan Activewear Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 16th were paid a dividend of $0.205 per share. The ex-dividend date was Thursday, November 21st. This represents a $0.82 dividend on an annualized basis and a yield of 1.15%. Gildan Activewear’s dividend payout ratio is currently 33.94%.

Insider Activity at Gildan Activewear

In other news, Senior Officer Benito Masi sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of C$69.31, for a total transaction of C$693,102.00. Also, Director Michener Chandlee bought 736 shares of the firm’s stock in a transaction on Monday, November 4th. The shares were bought at an average price of C$67.83 per share, with a total value of C$49,920.57. 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.