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

Key Points

• Gildan Activewear's shares reached a new 52-week high of C$79.95, closing at C$79.90 with substantial trading volume.
• Several analysts have upgraded Gildan's stock ratings recently, with a consensus target price increasing to C$71.50 and three analysts giving it a Strong Buy rating.
• The company recently declared a quarterly dividend of $0.226, representing a 1.1% dividend yield and a payout ratio of 27.63%.

Shares of Gildan Activewear Inc. (TSE:GIL - Get Free Report) NYSE: GIL reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$79.95 and last traded at C$79.90, with a volume of 284841 shares traded. The stock had previously closed at C$77.84.

Analysts Set New Price Targets

GIL has been the topic of several recent research reports. Cfra Research upgraded Gildan Activewear to a "hold" rating in a report on Monday, August 4th. Royal Bank Of Canada raised shares of Gildan Activewear to a "moderate buy" rating in a research report on Tuesday, August 5th. Scotiabank upgraded shares of Gildan Activewear to a "strong-buy" rating in a report on Wednesday, May 28th. National Bankshares lifted their price objective on shares of Gildan Activewear from C$80.00 to C$85.00 and gave the company an "outperform" rating in a report on Thursday, August 14th. Finally, TD Securities upped their target price on shares of Gildan Activewear from C$60.00 to C$67.00 and gave the stock a "buy" rating in a report on Monday, September 8th. Three analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of C$71.50.

Gildan Activewear Stock Performance

The firm has a market capitalization of C$11.84 billion, a PE ratio of 25.46, a P/E/G ratio of 4.55 and a beta of 1.27. The company has a debt-to-equity ratio of 101.26, a current ratio of 2.31 and a quick ratio of 0.87. The company's fifty day simple moving average is C$73.90 and its 200 day simple moving average is C$67.74.

Gildan Activewear Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 15th were issued a $0.226 dividend. The ex-dividend date of this dividend was Thursday, August 21st. This represents a $0.90 annualized dividend and a dividend yield of 1.1%. Gildan Activewear's dividend payout ratio is presently 27.63%.

Insider Buying and Selling

In related news, insider Benito Masi sold 15,000 shares of the company's stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of C$75.07, for a total value of C$1,126,017.00. Following the completion of the transaction, the insider directly owned 359,421 shares in the company, valued at approximately C$26,980,943.74. The trade was a 4.01% decrease in their ownership of the stock. 2.26% of the stock is currently owned by insiders.

Gildan Activewear Company Profile

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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