Gildan Activewear (NYSE:GIL) Hits New 52-Week High – Here’s Why

Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL)’s share price reached a new 52-week high on Wednesday . The stock traded as high as $65.50 and last traded at $65.1930, with a volume of 464923 shares trading hands. The stock had previously closed at $63.33.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. National Bankshares reaffirmed an “outperform” rating on shares of Gildan Activewear in a report on Thursday, October 23rd. Citigroup cut shares of Gildan Activewear from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $60.00 to $63.00 in a research note on Monday, October 20th. UBS Group reiterated a “buy” rating and issued a $110.00 price objective (up previously from $80.00) on shares of Gildan Activewear in a research note on Tuesday, December 16th. TD Securities reissued a “buy” rating and set a $74.00 target price on shares of Gildan Activewear in a report on Thursday, October 30th. Finally, Zacks Research downgraded shares of Gildan Activewear from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 23rd. Twelve analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $74.46.

Gildan Activewear Trading Down 0.2%

The stock has a market cap of $12.39 billion, a PE ratio of 21.38 and a beta of 1.11. The company has a 50 day moving average of $61.10 and a two-hundred day moving average of $57.58. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.88 and a current ratio of 2.01.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last announced its earnings results on Wednesday, October 29th. The textile maker reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.02. Gildan Activewear had a return on equity of 35.53% and a net margin of 14.13%.The firm had revenue of $910.60 million for the quarter, compared to analyst estimates of $925.24 million. During the same quarter last year, the firm posted $0.85 EPS. The business’s revenue was up 2.2% on a year-over-year basis. Gildan Activewear has set its FY 2025 guidance at 3.450-3.510 EPS. Sell-side analysts anticipate that Gildan Activewear, Inc. will post 3.48 earnings per share for the current fiscal year.

Gildan Activewear Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Wednesday, November 19th were given a $0.226 dividend. The ex-dividend date was Wednesday, November 19th. This represents a $0.90 annualized dividend and a dividend yield of 1.4%. Gildan Activewear’s dividend payout ratio (DPR) is 28.75%.

Hedge Funds Weigh In On Gildan Activewear

Several hedge funds and other institutional investors have recently made changes to their positions in GIL. Washburn Capital Management Inc. grew its holdings in shares of Gildan Activewear by 3.8% during the fourth quarter. Washburn Capital Management Inc. now owns 4,257 shares of the textile maker’s stock worth $266,000 after buying an additional 157 shares during the last quarter. Integrated Advisors Network LLC raised its stake in Gildan Activewear by 3.0% during the 3rd quarter. Integrated Advisors Network LLC now owns 6,365 shares of the textile maker’s stock valued at $368,000 after acquiring an additional 185 shares during the last quarter. Bank of Nova Scotia Trust Co. grew its stake in shares of Gildan Activewear by 2.5% in the 2nd quarter. Bank of Nova Scotia Trust Co. now owns 8,499 shares of the textile maker’s stock valued at $418,000 after purchasing an additional 207 shares during the last quarter. Signaturefd LLC increased its holdings in shares of Gildan Activewear by 2.8% in the third quarter. Signaturefd LLC now owns 7,659 shares of the textile maker’s stock valued at $443,000 after purchasing an additional 209 shares during the period. Finally, DekaBank Deutsche Girozentrale raised its stake in shares of Gildan Activewear by 0.3% during the second quarter. DekaBank Deutsche Girozentrale now owns 73,619 shares of the textile maker’s stock worth $3,612,000 after purchasing an additional 231 shares during the last quarter. Hedge funds and other institutional investors own 82.83% of the company’s stock.

About Gildan Activewear

Gildan Activewear Inc (NYSE:GIL) is a vertically integrated manufacturer and wholesaler of branded basic apparel, including activewear, socks, hosiery and underwear. Headquartered in Montreal, Quebec, the company produces a wide range of products such as T-shirts, fleece garments, sport shirts, performance wear, and shapewear under its Gildan, Anvil, Comfort Colors, Gold Toe, Peds and Silks brands. Leveraging its in-house knitting, dyeing, cut-and-sew and finishing operations, Gildan supplies blank apparel to screen printers, promotional product distributors and major retailers around the world.

Since its founding in 1984 by Glenn J.