Gildan Activewear (TSE:GIL) Hits New 1-Year High – Here’s Why

Gildan Activewear Inc. (TSE:GIL) (NYSE:GIL)’s share price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$78.83 and last traded at C$78.63, with a volume of 44179 shares. The stock had previously closed at C$77.93.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Desjardins upped their price target on Gildan Activewear from C$82.00 to C$87.00 and gave the company a “buy” rating in a report on Thursday, February 20th. National Bankshares increased their price target on Gildan Activewear from C$78.00 to C$83.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. Finally, UBS Group upgraded Gildan Activewear from a “hold” rating to a “strong-buy” rating in a report on Friday, January 10th. Four research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of C$68.50.

Gildan Activewear Price Performance

The company has a current ratio of 2.31, a quick ratio of 0.87 and a debt-to-equity ratio of 101.26. The stock has a 50-day simple moving average of C$71.46 and a 200 day simple moving average of C$66.69. The stock has a market capitalization of C$8.56 billion, a price-to-earnings ratio of 21.13, a price-to-earnings-growth ratio of 4.55 and a beta of 1.64.

Gildan Activewear (TSE:GIL) (NYSE:GIL) last issued its earnings results on Wednesday, February 19th. The company reported C$0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.82 by C$0.01. Gildan Activewear had a net margin of 13.05% and a return on equity of 23.10%. During the same quarter last year, the company posted $0.75 earnings per share. On average, equities research analysts forecast that Gildan Activewear Inc. will post 4.5460385 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Senior Officer Benito Masi sold 10,000 shares of Gildan Activewear stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of C$69.31, for a total value of C$693,102.00. Company insiders own 2.26% of the company’s stock.

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.