Gildan Activewear (NYSE:GIL) Hits New 1-Year High - Time to Buy?

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

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on GIL. TD Securities upped their price objective on shares of Gildan Activewear from $56.00 to $58.00 and gave the company a "buy" rating in a research note on Friday. CIBC lifted their price objective on Gildan Activewear from $48.00 to $56.00 and gave the stock an "outperform" rating in a research report on Friday. Citigroup upped their target price on Gildan Activewear from $54.00 to $59.00 and gave the company a "buy" rating in a report on Friday. BMO Capital Markets lifted their price target on Gildan Activewear from $47.00 to $58.00 and gave the stock an "outperform" rating in a report on Friday. Finally, Stifel Nicolaus upped their price objective on shares of Gildan Activewear from $54.00 to $60.00 and gave the company a "buy" rating in a report on Friday. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $50.85.

Gildan Activewear Stock Up 2.3 %

The business's 50 day moving average price is $46.66 and its 200-day moving average price is $41.15. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.98 and a current ratio of 2.31. The firm has a market capitalization of $7.89 billion, a PE ratio of 19.86, a P/E/G ratio of 1.86 and a beta of 1.44.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last released its quarterly earnings results on Thursday, October 31st. The textile maker reported $0.85 EPS for the quarter, hitting analysts' consensus estimates of $0.85. Gildan Activewear had a return on equity of 26.88% and a net margin of 13.06%. The company had revenue of $891.10 million for the quarter, compared to analysts' expectations of $882.85 million. During the same period in the prior year, the firm earned $0.74 earnings per share. The firm's revenue was up 2.4% compared to the same quarter last year. As a group, equities research analysts forecast that Gildan Activewear Inc. will post 2.97 earnings per share for the current year.

Gildan Activewear Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Thursday, November 21st will be given a $0.152 dividend. This represents a $0.61 dividend on an annualized basis 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%.

Hedge Funds Weigh In On Gildan Activewear

Several large investors have recently bought and sold shares of the stock. Riverview Trust Co acquired a new position in shares of Gildan Activewear in the 3rd quarter valued at $29,000. Blue Trust Inc. grew its holdings in shares of Gildan Activewear by 96.1% during the third quarter. Blue Trust Inc. now owns 810 shares of the textile maker's stock worth $38,000 after buying an additional 397 shares during the last quarter. Natixis acquired a new position in Gildan Activewear in the 1st quarter valued at about $51,000. Cullen Frost Bankers Inc. purchased a new stake in Gildan Activewear during the 2nd quarter valued at approximately $51,000. Finally, Tobam acquired a new stake in Gildan Activewear during the 2nd quarter worth approximately $53,000. 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.