Gildan Activewear (NYSE:GIL) Reaches New 12-Month Low – Here’s What Happened

Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL)’s stock price reached a new 52-week low during trading on Monday. The company traded as low as $39.73 and last traded at $40.2350, with a volume of 1,269,851 shares changing hands. The stock had previously closed at $40.50.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Citigroup restated a “neutral” rating on shares of Gildan Activewear in a report on Tuesday, August 4th. Scotia raised their price target on shares of Gildan Activewear from $65.00 to $67.00 and gave the stock a “sector outperform” rating in a report on Friday, July 31st. TD Securities decreased their price objective on shares of Gildan Activewear from $80.00 to $54.00 and set a “buy” rating for the company in a research report on Thursday, September 24th. Scotiabank restated 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. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Gildan Activewear in a research note on Thursday, August 13th. Twelve equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Gildan Activewear currently has an average rating of “Moderate Buy” and a consensus price target of $73.58.

Gildan Activewear Trading Down 0.0%

The stock has a market capitalization of $7.50 billion, a P/E ratio of 77.50 and a beta of 1.11. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.93 and a quick ratio of 1.01. The business’s 50 day simple moving average is $46.95 and its 200-day simple moving average is $52.84.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its quarterly earnings data on Thursday, July 30th. The textile maker reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.17. The firm had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.61 billion. Gildan Activewear had a net margin of 1.28% and a return on equity of 21.03%. The business’s revenue for the quarter was up 72.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.97 EPS. As a group, analysts forecast that Gildan Activewear, Inc. will post 4.67 EPS for the current year.

Gildan Activewear Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 14th. Stockholders of record on Thursday, August 20th were issued a $0.2490 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date was Thursday, August 20th. Gildan Activewear’s payout ratio is presently 192.31%.

Hedge Funds Weigh In On Gildan Activewear

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Fifth Third Bancorp lifted its stake in Gildan Activewear by 16.5% during the 1st quarter. Fifth Third Bancorp now owns 1,355 shares of the textile maker’s stock valued at $75,000 after acquiring an additional 192 shares during the period. Mather Group LLC. increased its position in Gildan Activewear by 7.6% in the third quarter. Mather Group LLC. now owns 3,468 shares of the textile maker’s stock worth $148,000 after purchasing an additional 244 shares during the last quarter. Corient Private Wealth LLC lifted its position in Gildan Activewear by 3.9% in the fourth quarter. Corient Private Wealth LLC now owns 9,043 shares of the textile maker’s stock worth $566,000 after buying an additional 339 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Gildan Activewear by 5.9% during the first quarter. Assenagon Asset Management S.A. now owns 6,468 shares of the textile maker’s stock worth $359,000 after purchasing an additional 359 shares during the last quarter. Finally, Cooper Financial Group boosted its position in Gildan Activewear by 3.2% during the 3rd quarter. Cooper Financial Group now owns 13,270 shares of the textile maker’s stock valued at $566,000 after acquiring an additional 407 shares in the last quarter. Institutional investors own 82.83% of the company’s stock.

Gildan Activewear Company Profile

Gildan Activewear Inc is a Montreal, Quebec-based apparel manufacturer that produces and sells everyday basic clothing for consumers and businesses. The company’s product portfolio includes activewear, T-shirts, fleece garments, underwear, socks and hosiery, as well as other apparel basics.

Gildan sells products primarily through wholesale distributors and screen printers, who supply decorated apparel to businesses, schools, teams, organizations and retailers. Its portfolio includes the Gildan, American Apparel, Comfort Colors, Gold Toe and Anvil brands.