Gildan Activewear (TSE:GIL) Shares Down 22.5% – Should You Sell?

Gildan Activewear Inc. (TSE:GIL) (NYSE:GIL)’s share price fell 22.5% during trading on Tuesday . The company traded as low as C$65.15 and last traded at C$67.18. 1,280,384 shares were traded during mid-day trading, an increase of 129% from the average session volume of 558,805 shares. The stock had previously closed at C$86.63.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. TD Securities upped their price target on shares of Gildan Activewear from C$77.00 to C$80.00 and gave the stock a “buy” rating in a research note on Friday, February 27th. National Bank Financial raised their price objective on shares of Gildan Activewear from C$100.00 to C$101.00 and gave the company an “outperform” rating in a research note on Friday, May 1st. Finally, Desjardins boosted their price objective on shares of Gildan Activewear from C$95.00 to C$108.00 and gave the stock a “buy” rating in a report on Wednesday, February 25th. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$88.00.

Gildan Activewear Stock Down 1.4%

The firm has a market cap of C$13.69 billion, a price-to-earnings ratio of 43.75, a P/E/G ratio of 4.55 and a beta of 1.49. The company has a current ratio of 2.35, a quick ratio of 0.87 and a debt-to-equity ratio of 147.07. The firm has a 50 day moving average price of C$80.34 and a 200-day moving average price of C$84.63.

Gildan Activewear (TSE:GIL) (NYSE:GIL) last released its quarterly earnings data on Thursday, April 30th. The company reported C$0.60 EPS for the quarter. The business had revenue of C$1.62 billion for the quarter. Gildan Activewear had a net margin of 6.14% and a return on equity of 10.08%. On average, equities analysts forecast that Gildan Activewear Inc. will post 4.5460385 EPS for the current year.

Gildan Activewear Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 15th were issued a $0.249 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend was Wednesday, May 20th. Gildan Activewear’s dividend payout ratio is 54.85%.

Insider Activity

In other Gildan Activewear news, Director Deepak Kumar Khandelwal purchased 5,000 shares of the stock in a transaction dated Monday, May 11th. The shares were acquired at an average cost of C$79.80 per share, for a total transaction of C$399,000.00. Following the completion of the transaction, the director directly owned 5,000 shares of the company’s stock, valued at C$399,000. This trade represents a ∞ increase in their ownership of the stock. 2.26% of the stock is owned by company insiders.

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. 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.