Gildan Activewear (NYSE:GIL) Reaches New 52-Week High Following Analyst Upgrade

Key Points

• Gildan Activewear's stock reached a new 52-week high following an upgrade from TD Cowen, who raised their price target from $67.00 to $73.00 while maintaining a buy rating.
• The company reported strong earnings of $0.97 per share for the last quarter, exceeding analyst expectations and showing a 6.5% revenue increase year-over-year.
• Gildan Activewear recently declared a quarterly dividend of $0.226 per share, with an annual yield of 1.5% and a payout ratio of 28.57%.

Shares of Gildan Activewear, Inc. (NYSE:GIL - Get Free Report) TSE: GIL hit a new 52-week high during trading on Monday after TD Cowen raised their price target on the stock from $67.00 to $73.00. TD Cowen currently has a buy rating on the stock. Gildan Activewear traded as high as $61.29 and last traded at $61.23, with a volume of 84218 shares traded. The stock had previously closed at $60.96.

A number of other equities research analysts have also recently weighed in on GIL. Cfra Research raised shares of Gildan Activewear to a "hold" rating in a research report on Monday, August 4th. TD Securities set a $73.00 price target on shares of Gildan Activewear in a research report on Monday. CIBC boosted their price target on shares of Gildan Activewear from $56.00 to $60.00 and gave the company an "outperformer" rating in a research report on Friday, August 1st. National Bankshares reissued an "outperform" rating on shares of Gildan Activewear in a research report on Thursday, August 14th. Finally, Scotiabank reissued an "outperform" rating on shares of Gildan Activewear in a research report on Thursday, August 14th. Thirteen equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Gildan Activewear presently has an average rating of "Moderate Buy" and an average target price of $66.23.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Maseco LLP acquired a new position in Gildan Activewear during the second quarter worth about $26,000. Smartleaf Asset Management LLC grew its position in shares of Gildan Activewear by 161.8% in the second quarter. Smartleaf Asset Management LLC now owns 555 shares of the textile maker's stock valued at $27,000 after purchasing an additional 343 shares during the last quarter. Olde Wealth Management LLC acquired a new stake in Gildan Activewear during the first quarter worth approximately $29,000. Twin Tree Management LP acquired a new stake in Gildan Activewear during the first quarter worth approximately $29,000. Finally, GAMMA Investing LLC boosted its position in Gildan Activewear by 4,323.5% during the first quarter. GAMMA Investing LLC now owns 752 shares of the textile maker's stock worth $33,000 after acquiring an additional 735 shares during the last quarter. 82.83% of the stock is owned by hedge funds and other institutional investors.

Gildan Activewear Stock Performance

The stock's 50-day moving average is $54.76 and its 200-day moving average is $49.57. The stock has a market cap of $9.18 billion, a price-to-earnings ratio of 19.49, a price-to-earnings-growth ratio of 1.96 and a beta of 1.20. The company has a debt-to-equity ratio of 1.37, a current ratio of 3.87 and a quick ratio of 1.67.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last announced its earnings results on Thursday, July 31st. The textile maker reported $0.97 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.96 by $0.01. Gildan Activewear had a net margin of 14.55% and a return on equity of 34.31%. The firm had revenue of $918.50 million for the quarter, compared to analyst estimates of $908.41 million. During the same quarter last year, the business earned $0.74 earnings per share. Gildan Activewear's revenue was up 6.5% compared to the same quarter last year. Gildan Activewear has set its FY 2025 guidance at 3.400-3.560 EPS. Analysts anticipate that Gildan Activewear, Inc. will post 3.48 EPS for the current fiscal year.

Gildan Activewear Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Thursday, August 21st were paid a dividend of $0.226 per share. The ex-dividend date of this dividend was Thursday, August 21st. This represents a $0.90 dividend on an annualized basis and a yield of 1.5%. Gildan Activewear's dividend payout ratio (DPR) is currently 28.57%.

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.

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