Gildan Activewear (TSE:GIL) Director Buys 100,000 Shares of Company Stock

Gildan Activewear Inc. (TSE:GIL) (NYSE:GIL) Director Glenn Chamandy purchased 100,000 shares of the firm’s stock in a transaction on Friday, November 6th. The stock was bought at an average price of C$49.55 per share, with a total value of C$4,955,000.00. Following the completion of the purchase, the director owned 1,379,665 shares of the company’s stock, valued at approximately C$68,362,400.75. This represents a 7.81% increase in their ownership of the stock.

Gildan Activewear Stock Up 5.1%

Shares of TSE:GIL traded up C$2.51 during trading on Monday, hitting C$51.51. 1,238,680 shares of the company were exchanged, compared to its average volume of 668,442. Gildan Activewear Inc. has a fifty-two week low of C$43.69 and a fifty-two week high of C$100.44. The stock has a market cap of C$9.54 billion, a price-to-earnings ratio of 101.00, a P/E/G ratio of 4.55 and a beta of 1.77. The company has a current ratio of 1.93, a quick ratio of 0.87 and a debt-to-equity ratio of 145.29. The firm has a fifty day moving average price of C$61.09 and a two-hundred day moving average price of C$76.30.

Gildan Activewear (TSE:GIL) (NYSE:GIL) last released its quarterly earnings data on Thursday, November 5th. The company reported C$2.18 EPS for the quarter. The company had revenue of C$2.08 billion during the quarter. Gildan Activewear had a return on equity of 2.12% and a net margin of 1.33%. As a group, research analysts anticipate that Gildan Activewear Inc. will post 4.55 earnings per share for the current fiscal year.

Gildan Activewear Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 14th. Shareholders of record on Monday, September 14th were given a dividend of $0.2490 per share. This represents a $1.00 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Thursday, August 20th. Gildan Activewear’s dividend payout ratio is 186.27%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. UBS Group downgraded shares of Gildan Activewear from a “strong-buy” rating to a “hold” rating in a research report on Friday. Scotiabank cut Gildan Activewear from a “strong-buy” rating to a “hold” rating in a report on Friday. National Bank Financial lowered their price target on Gildan Activewear from C$107.00 to C$98.00 and set an “outperform” rating on the stock in a research report on Monday, October 19th. Desjardins decreased their target price on Gildan Activewear from C$108.00 to C$90.00 and set a “buy” rating on the stock in a report on Tuesday, November 3rd. Finally, Canaccord Genuity Group cut Gildan Activewear from a “strong-buy” rating to a “hold” rating in a research note on Thursday. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Gildan Activewear presently has an average rating of “Moderate Buy” and a consensus target price of C$80.25.

About Gildan Activewear

Gildan is a leading manufacturer of everyday basic apparel. The Company’s product offering includes activewear, underwear, socks, and intimates sold to a broad range of customers, including wholesale distributors, screenprinters, embellishers, retailers or e-commerce platforms, as well as global lifestyle brand companies and directly to consumers. Gildan markets its products in North America, Europe, Asia Pacific, and Latin America, under a diversified portfolio of Company-owned brands including Gildan, Hanes, Comfort Colors, American Apparel, ALLPRO, GOLDTOE, Peds, Bali, Playtex, Maidenform, Bonds, as well as Champion which is under an exclusive licensing agreement for the printwear channel in the U.S.