Gildan Activewear (NYSE:GIL) Sets New 52-Week Low – Here’s What Happened

by · The Cerbat Gem

Gildan Activewear, Inc. (NYSE:GIL – Get Free Report) (TSE:GIL) shares hit a new 52-week low on Thursday . The stock traded as low as $41.50 and last traded at $41.3830, with a volume of 314981 shares trading hands. The stock had previously closed at $46.19.

Analysts Set New Price Targets

GIL has been the topic of a number of recent analyst reports. Scotia increased their price target on Gildan Activewear from $65.00 to $67.00 and gave the stock a “sector outperform” rating in a research note on Friday, July 31st. Scotiabank reaffirmed a “sector outperform” rating and issued a $67.00 price objective (up from $65.00) on shares of Gildan Activewear in a research report on Friday, July 31st. Citigroup reiterated a “neutral” rating on shares of Gildan Activewear in a research note on Tuesday, August 4th. UBS Group increased their target price on Gildan Activewear from $110.00 to $111.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Finally, TD Securities reaffirmed a “buy” rating on shares of Gildan Activewear in a research note on Tuesday, June 16th. Twelve investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $80.00.

Check Out Our Latest Analysis on GIL

Gildan Activewear Trading Down 11.7%

The business has a fifty day moving average price of $52.78 and a 200 day moving average price of $55.34. The company has a market capitalization of $7.56 billion, a PE ratio of 78.75 and a beta of 1.08. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.01 and a current ratio of 1.93.

Gildan Activewear (NYSE:GIL – Get Free Report) (TSE:GIL) last issued its earnings results on Thursday, July 30th. The textile maker reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.17. Gildan Activewear had a return on equity of 21.03% and a net margin of 1.28%.The business had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.61 billion. During the same quarter in the previous year, the business earned $0.97 EPS. The company’s revenue for the quarter was up 72.3% on a year-over-year basis. Analysts expect that Gildan Activewear, Inc. will post 4.67 EPS for the current fiscal year.

Gildan Activewear Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 14th. Shareholders of record on Thursday, August 20th were given a dividend of $0.249 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend was Thursday, August 20th. Gildan Activewear’s payout ratio is 192.31%.

Institutional Investors Weigh In On Gildan Activewear

Large investors have recently made changes to their positions in the business. Caisse de depot et placement du Quebec purchased a new position in shares of Gildan Activewear in the 2nd quarter valued at $601,931,000. Jupiter Topco LLC acquired a new stake in Gildan Activewear in the 2nd quarter valued at $573,363,000. The Manufacturers Life Insurance Company acquired a new stake in Gildan Activewear in the 2nd quarter valued at $234,764,000. Norges Bank purchased a new position in Gildan Activewear in the fourth quarter valued at about $151,018,000. Finally, Brandes Investment Partners LP purchased a new position in Gildan Activewear in the fourth quarter valued at about $99,870,000. Institutional investors and hedge funds own 82.83% of the company’s stock.

Gildan Activewear Company Profile

(Get Free Report)

Gildan Activewear Inc is a Canadian apparel manufacturer headquartered in Montreal, Quebec. Founded in 1984, the company produces and sells everyday basic apparel for consumers, retailers and the decorated-apparel market. Its products include T-shirts, fleece, underwear, socks, hosiery and other activewear and casualwear items.

Gildan markets products through a portfolio of brands that includes Gildan, American Apparel, Comfort Colors, Gold Toe and Peds. The company primarily serves wholesale distributors, screen printers and other apparel decorators, as well as retailers and private-label customers.

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