Gildan Activewear (NYSE:GIL) Reaches New 52-Week High - Time to Buy?

Key Points

• Gildan Activewear's stock reached a new 52-week high at $58.15, with a consensus rating of "Moderate Buy" and a target price of $64.58.
• Recently, Gildan reported a quarterly EPS of $0.97, exceeding analyst expectations, and showed a revenue increase of 6.5% year-over-year.
• The company also announced a quarterly dividend of $0.226, representing an annual yield of 1.6%.

Gildan Activewear, Inc. (NYSE:GIL - Get Free Report) TSE: GIL shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as $58.15 and last traded at $57.47, with a volume of 13095 shares traded. The stock had previously closed at $57.67.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Citigroup set a $60.00 price target on Gildan Activewear and gave the company a "buy" rating in a research note on Thursday, August 14th. BMO Capital Markets restated an "outperform" rating on shares of Gildan Activewear in a research note on Thursday, August 14th. Barclays boosted their price objective on Gildan Activewear from $51.00 to $56.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. National Bankshares reiterated an "outperform" rating on shares of Gildan Activewear in a research report on Thursday, August 14th. Finally, UBS Group boosted their price target on shares of Gildan Activewear from $56.00 to $70.00 and gave the company a "buy" rating in a research report on Tuesday, July 29th. Eleven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, Gildan Activewear currently has a consensus rating of "Moderate Buy" and a consensus target price of $64.58.

Gildan Activewear Stock Down 1.4%

The company has a market capitalization of $8.47 billion, a PE ratio of 18.03, a price-to-earnings-growth ratio of 1.85 and a beta of 1.17. The company's fifty day moving average is $54.07 and its 200-day moving average is $49.13. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.67 and a current ratio of 3.87.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last posted its quarterly earnings results on Thursday, July 31st. The textile maker reported $0.97 EPS for the quarter, topping analysts' consensus estimates of $0.96 by $0.01. Gildan Activewear had a return on equity of 34.31% and a net margin of 14.55%.The company had revenue of $918.50 million for the quarter, compared to analysts' expectations of $908.41 million. During the same period in the previous year, the firm earned $0.74 EPS. The firm'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. As a group, analysts predict that Gildan Activewear, Inc. will post 3.48 EPS for the current fiscal year.

Gildan Activewear Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Thursday, August 21st were given a $0.226 dividend. This represents a $0.90 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend was Thursday, August 21st. Gildan Activewear's dividend payout ratio is 28.57%.

Institutional Investors Weigh In On Gildan Activewear

Several hedge funds have recently made changes to their positions in GIL. Norges Bank acquired a new stake in shares of Gildan Activewear during the 2nd quarter worth about $101,409,000. Mackenzie Financial Corp raised its holdings in shares of Gildan Activewear by 61.9% in the second quarter. Mackenzie Financial Corp now owns 4,434,020 shares of the textile maker's stock valued at $218,622,000 after buying an additional 1,695,329 shares during the last quarter. Picton Mahoney Asset Management purchased a new position in shares of Gildan Activewear in the 2nd quarter valued at approximately $65,409,000. The Manufacturers Life Insurance Company raised its position in Gildan Activewear by 67.2% during the 1st quarter. The Manufacturers Life Insurance Company now owns 2,959,555 shares of the textile maker's stock worth $131,556,000 after buying an additional 1,189,921 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in Gildan Activewear by 24.3% in the second quarter. The Manufacturers Life Insurance Company now owns 3,678,451 shares of the textile maker's stock valued at $180,305,000 after purchasing an additional 718,896 shares during the period. 82.83% of the stock is currently owned by hedge funds and other institutional investors.

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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