Gildan Activewear (TSE:GIL) Hits New 52-Week High – Still a Buy?

Gildan Activewear Inc. (TSE:GIL) (NYSE:GIL) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$78.83 and last traded at C$78.63, with a volume of 44179 shares changing hands. The stock had previously closed at C$77.93.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on GIL. Desjardins upped their target price on Gildan Activewear from C$82.00 to C$87.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. National Bankshares upped their price objective on Gildan Activewear from C$78.00 to C$83.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. Finally, UBS Group upgraded Gildan Activewear from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 10th. Four investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of C$68.50.

Gildan Activewear Trading Up 1.1 %

The firm has a market capitalization of C$8.56 billion, a price-to-earnings ratio of 21.13, a price-to-earnings-growth ratio of 4.55 and a beta of 1.64. The business’s fifty day moving average is C$71.46 and its 200 day moving average is C$66.69. The company has a quick ratio of 0.87, a current ratio of 2.31 and a debt-to-equity ratio of 101.26.

Gildan Activewear (TSE:GIL) (NYSE:GIL) last released its quarterly earnings results on Wednesday, February 19th. The company reported C$0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.82 by C$0.01. Gildan Activewear had a return on equity of 23.10% and a net margin of 13.05%. During the same period in the prior year, the business posted $0.75 EPS. Equities analysts predict that Gildan Activewear Inc. will post 4.5460385 earnings per share for the current year.

Insider Transactions at Gildan Activewear

In other news, Senior Officer Benito Masi sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of C$69.31, for a total value of C$693,102.00. Company insiders own 2.26% of the company’s stock.

About Gildan Activewear

Gildan is a vertically integrated designer and manufacturer of basic apparel, including T-shirts, underwear, socks, and hosiery. Its primary market is the sale of blank T-shirts to wholesalers and printers (printwear). Gildan also sells branded clothing through retail and direct-to-consumer channels.