Gildan Activewear (NYSE:GIL) Hits New 1-Year High – Time to Buy?

Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) shares hit a new 52-week high on Tuesday . The stock traded as high as $63.45 and last traded at $62.8680, with a volume of 454052 shares changing hands. The stock had previously closed at $59.96.

Analysts Set New Price Targets

A number of equities analysts have recently commented on GIL shares. UBS Group restated a “buy” rating and issued a $110.00 price objective (up from $80.00) on shares of Gildan Activewear in a research report on Tuesday. Scotiabank set a $66.00 price target on shares of Gildan Activewear and gave the company an “outperform” rating in a report on Thursday, October 30th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Gildan Activewear in a report on Monday, December 8th. Royal Bank Of Canada increased their price objective on Gildan Activewear from $68.00 to $71.00 and gave the stock an “outperform” rating in a research report on Monday, October 27th. Finally, TD Cowen boosted their target price on Gildan Activewear from $67.00 to $73.00 and gave the stock a “buy” rating in a research report on Monday, October 6th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $74.46.

Gildan Activewear Stock Performance

The company has a 50 day simple moving average of $58.55 and a 200-day simple moving average of $54.56. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.01 and a quick ratio of 0.88. The stock has a market cap of $11.54 billion, a P/E ratio of 19.92 and a beta of 1.12.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last announced its quarterly earnings data on Wednesday, October 29th. The textile maker reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.02. The company had revenue of $910.60 million for the quarter, compared to analysts’ expectations of $925.24 million. Gildan Activewear had a return on equity of 35.53% and a net margin of 14.13%.Gildan Activewear’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period last year, the firm posted $0.85 EPS. Gildan Activewear has set its FY 2025 guidance at 3.450-3.510 EPS. On average, equities analysts expect that Gildan Activewear, Inc. will post 3.48 earnings per share for the current fiscal year.

Gildan Activewear Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Wednesday, November 19th were paid a $0.226 dividend. The ex-dividend date of this dividend was Wednesday, November 19th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.5%. Gildan Activewear’s dividend payout ratio is 28.75%.

Institutional Trading of Gildan Activewear

Several hedge funds have recently added to or reduced their stakes in the business. Maseco LLP bought a new position in shares of Gildan Activewear during the second quarter valued at about $26,000. Smartleaf Asset Management LLC boosted its holdings in Gildan Activewear by 161.8% during the 2nd quarter. Smartleaf Asset Management LLC now owns 555 shares of the textile maker’s stock valued at $27,000 after acquiring an additional 343 shares during the period. Twin Tree Management LP bought a new position in Gildan Activewear during the 1st quarter worth approximately $29,000. Brown Brothers Harriman & Co. increased its stake in Gildan Activewear by 867.9% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 513 shares of the textile maker’s stock worth $30,000 after purchasing an additional 460 shares during the period. Finally, CIBC Private Wealth Group LLC increased its stake in Gildan Activewear by 169.0% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 538 shares of the textile maker’s stock worth $31,000 after purchasing an additional 338 shares during the period. 82.83% of the stock is owned by institutional investors.

About Gildan Activewear

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.