Shares of Gildan Activewear Inc. (TSE:GIL - Get Free Report) NYSE: GIL hit a new 52-week high on Wednesday after the company announced better than expected quarterly earnings. The company traded as high as C$76.90 and last traded at C$76.59, with a volume of 324667 shares changing hands. The stock had previously closed at C$73.70.
The company reported C$0.83 EPS for the quarter, topping analysts' consensus estimates of C$0.82 by C$0.01. Gildan Activewear had a net margin of 13.05% and a return on equity of 23.10%. During the same quarter last year, the firm earned $0.75 EPS.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently commented on GIL shares. Desjardins lifted their price target on shares of Gildan Activewear from C$82.00 to C$87.00 and gave the stock a "buy" rating in a report on Thursday. National Bankshares boosted their target price on shares of Gildan Activewear from C$78.00 to C$83.00 and gave the company an "outperform" rating in a report on Thursday. Finally, UBS Group upgraded shares of Gildan Activewear from a "hold" rating to a "strong-buy" rating in a report on Friday, January 10th. Five equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Gildan Activewear currently has a consensus rating of "Buy" and a consensus price target of C$63.00.
Check Out Our Latest Research Report on Gildan Activewear
Insider Activity at Gildan Activewear
In other news, Senior Officer Benito Masi sold 10,000 shares of the stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of C$69.31, for a total transaction of C$693,102.00. 2.26% of the stock is owned by company insiders.
Gildan Activewear Stock Down 1.3 %
The company has a market cap of C$8.37 billion, a P/E ratio of 20.66, a PEG ratio of 4.55 and a beta of 1.64. The stock's 50-day moving average price is C$70.98 and its 200-day moving average price is C$66.23. The company has a current ratio of 2.31, a quick ratio of 0.87 and a debt-to-equity ratio of 101.26.
About Gildan Activewear
(
Get Free Report)
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.
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