Gildan Activewear (TSE:GIL) Sets New 12-Month High – Still a Buy?

Gildan Activewear Inc. (TSE:GIL) (NYSE:GIL) shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as C$72.71 and last traded at C$72.30, with a volume of 95073 shares changing hands. The stock had previously closed at C$72.00.

Analyst Upgrades and Downgrades

Several research firms have commented on GIL. Citigroup boosted their target price on Gildan Activewear from C$44.00 to C$54.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. National Bankshares lifted their target price on 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. Finally, UBS Group upgraded Gildan Activewear from a “hold” rating to a “strong-buy” rating in a report on Friday, January 10th. Five investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of C$57.20.

Gildan Activewear Stock Performance

The company’s fifty day simple moving average is C$68.66 and its two-hundred day simple moving average is C$62.90. The company has a debt-to-equity ratio of 72.52, a quick ratio of 0.87 and a current ratio of 2.35. The stock has a market capitalization of C$11.76 billion, a P/E ratio of 22.11, a PEG ratio of 4.55 and a beta of 1.64.

Gildan Activewear Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 16th were paid a $0.205 dividend. The ex-dividend date was Thursday, November 21st. This represents a $0.82 annualized dividend and a dividend yield of 1.13%. Gildan Activewear’s dividend payout ratio (DPR) is presently 33.94%.

Insiders Place Their Bets

In other Gildan Activewear news, Senior Officer Benito Masi sold 10,000 shares of the firm’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 value of C$693,102.00. Also, Director Michener Chandlee purchased 736 shares of the firm’s stock in a transaction on Monday, November 4th. The stock was acquired at an average price of C$67.83 per share, with a total value of C$49,920.57. Corporate insiders own 2.26% of the company’s stock.

Gildan Activewear Company Profile

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.