Gildan Activewear (TSE:GIL) Hits New 1-Year Low – Here’s What Happened

Gildan Activewear Inc. (TSE:GIL) (NYSE:GIL) shares reached a new 52-week low during trading on Wednesday. The stock traded as low as C$55.01 and last traded at C$55.62, with a volume of 134,425 shares. The stock had previously closed at C$56.31.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on GIL. Desjardins set a C$108.00 price objective on Gildan Activewear and gave the stock a “buy” rating in a research report on Tuesday, July 28th. National Bank Financial dropped their target price on shares of Gildan Activewear from C$107.00 to C$98.00 and set an “outperform” rating for the company in a report on Monday, October 19th. Three research analysts have rated the stock with a Buy rating. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of C$95.33.

Gildan Activewear Stock Performance

The firm has a market capitalization of C$10.26 billion, a price-to-earnings ratio of 108.63, a P/E/G ratio of 4.55 and a beta of 1.63. The company has a quick ratio of 0.87, a current ratio of 1.93 and a debt-to-equity ratio of 145.29. The company has a 50-day moving average price of C$64.05 and a 200-day moving average price of C$77.48.

Gildan Activewear (TSE:GIL) (NYSE:GIL) last issued its earnings results on Thursday, July 30th. The company reported C$1.82 earnings per share for the quarter. Gildan Activewear had a net margin of 1.33% and a return on equity of 2.12%. The firm had revenue of C$1.13 billion during the quarter. As a group, equities research analysts forecast that Gildan Activewear Inc. will post 4.55 earnings per share for the current year.

Gildan Activewear Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 14th. Investors of record on Monday, September 14th were paid a dividend of $0.2490 per share. This represents a $1.00 annualized dividend and a yield of 1.8%. The ex-dividend date was Thursday, August 20th. Gildan Activewear’s dividend payout ratio is presently 186.27%.

Insider Activity

In related news, insider Maria Andrea Pirie Woodbridge sold 8,000 shares of the stock in a transaction dated 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 completion of the sale, 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.

Gildan Activewear Company Profile

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.