Gildan Activewear (TSE:GIL) Reaches New 52-Week High at $62.07

Gildan Activewear Inc. (TSE:GIL - Get Free Report) NYSE: GIL shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as C$62.07 and last traded at C$61.96, with a volume of 147075 shares changing hands. The stock had previously closed at C$61.17.

Analysts Set New Price Targets

GIL has been the subject of several recent analyst reports. BMO Capital Markets raised shares of Gildan Activewear to a "strong-buy" rating in a research report on Friday, August 2nd. Desjardins lifted their price target on shares of Gildan Activewear from C$63.00 to C$67.00 and gave the company a "buy" rating in a research note on Tuesday, August 6th. TD Securities increased their price objective on shares of Gildan Activewear from C$46.00 to C$50.00 and gave the stock a "buy" rating in a research report on Friday, August 2nd. Finally, National Bankshares boosted their target price on Gildan Activewear from C$57.00 to C$58.00 and gave the company an "outperform" rating in a research report on Friday, August 2nd. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of C$54.00.

Gildan Activewear Price Performance

The company has a debt-to-equity ratio of 72.52, a current ratio of 2.35 and a quick ratio of 0.87. The business's fifty day moving average price is C$56.87 and its 200-day moving average price is C$51.86. The stock has a market capitalization of C$10.07 billion, a price-to-earnings ratio of 18.88, a PEG ratio of 4.55 and a beta of 1.65.

Gildan Activewear (TSE:GIL - Get Free Report) NYSE: GIL last released its quarterly earnings results on Thursday, August 1st. The company reported C$1.01 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of C$0.99 by C$0.02. The business had revenue of C$1.18 billion during the quarter, compared to the consensus estimate of C$1.17 billion. Gildan Activewear had a return on equity of 21.95% and a net margin of 13.01%. On average, research analysts forecast that Gildan Activewear Inc. will post 4.5683346 EPS for the current year.

Gildan Activewear Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 16th will be given a $0.28 dividend. This is a positive change from Gildan Activewear's previous quarterly dividend of $0.28. This represents a $1.12 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date is Thursday, August 22nd. Gildan Activewear's dividend payout ratio is presently 34.15%.

Insiders Place Their Bets

In other news, Senior Officer Benito Masi sold 50,000 shares of the stock in a transaction dated Monday, August 12th. The shares were sold at an average price of C$41.55, for a total value of C$2,077,495.00. In other news, Senior Officer Benito Masi sold 50,000 shares of the company's stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of C$41.55, for a total value of C$2,077,495.00. Also, Senior Officer Rhodri Harries sold 32,500 shares of Gildan Activewear stock in a transaction on Friday, September 13th. The stock was sold at an average price of C$61.20, for a total value of C$1,989,000.00. Insiders have sold 101,620 shares of company stock valued at $4,870,471 in the last three months. 2.26% of the stock is currently owned by insiders.

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.