Gildan Activewear (TSE:GIL) Hits New 12-Month Low – What’s Next?

Gildan Activewear Inc. (TSE:GIL) (NYSE:GIL) shares reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as C$64.93 and last traded at C$65.35, with a volume of 22664 shares trading hands. The stock had previously closed at C$65.98.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on GIL. Desjardins set a C$108.00 target price on shares of Gildan Activewear and gave the stock a “buy” rating in a report on Tuesday, July 28th. National Bank Financial boosted their target price on shares of Gildan Activewear from C$105.00 to C$107.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of C$89.50.

Gildan Activewear Trading Up 1.7%

The stock has a 50 day simple moving average of C$74.39 and a 200-day simple moving average of C$77.77. The firm has a market capitalization of C$12.02 billion, a P/E ratio of 127.31, a P/E/G ratio of 4.55 and a beta of 1.44. The company has a current ratio of 1.93, a quick ratio of 0.87 and a debt-to-equity ratio of 145.29.

Gildan Activewear (TSE:GIL) (NYSE:GIL) last released its quarterly earnings results on Thursday, July 30th. The company reported C$1.82 EPS for the quarter. The firm had revenue of C$1.13 billion during the quarter. Gildan Activewear had a net margin of 1.33% and a return on equity of 2.12%. On average, equities research analysts forecast that Gildan Activewear Inc. will post 4.5460385 EPS for the current fiscal year.

Gildan Activewear Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 14th. Shareholders of record on Monday, September 14th were issued a dividend of $0.249 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend was Thursday, August 20th. Gildan Activewear’s dividend payout ratio is currently 186.27%.

Insiders Place Their Bets

In other news, insider Maria Andrea Pirie Woodbridge sold 8,000 shares of Gildan Activewear stock in a transaction on Thursday, August 27th. The shares were sold at an average price of C$75.93, for a total transaction of C$607,440.00. Following the transaction, the insider owned 2,243 shares in the company, valued at C$170,310.99. This trade represents a 78.10% decrease in their position. Insiders own 2.26% of the company’s stock.

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. 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.