Gildan Activewear (TSE:GIL) Reaches New 12-Month Low – Time to Sell?

Shares of Gildan Activewear Inc. (TSE:GIL) (NYSE:GIL) hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as C$56.75 and last traded at C$58.19, with a volume of 964386 shares traded. The stock had previously closed at C$65.05.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Desjardins set a C$108.00 price objective on shares of Gildan Activewear and gave the company a “buy” rating in a research report on Tuesday, July 28th. National Bank Financial upped their target price on shares of Gildan Activewear from C$105.00 to C$107.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. Three research analysts have rated the stock with a Buy rating and one has issued 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 C$89.50.

Gildan Activewear Stock Down 11.5%

The firm has a market cap of C$10.66 billion, a P/E ratio of 112.86, a P/E/G ratio of 4.55 and a beta of 1.44. The company has a current ratio of 1.93, a quick ratio of 0.87 and a debt-to-equity ratio of 145.29. The business has a 50-day moving average price of C$73.60 and a 200-day moving average price of C$76.84.

Gildan Activewear (TSE:GIL) (NYSE:GIL) last posted its earnings results on Thursday, July 30th. The company reported C$1.82 earnings per share for the quarter. The company had revenue of C$1.13 billion during the quarter. Gildan Activewear had a return on equity of 2.12% and a net margin of 1.33%. On average, equities analysts forecast that Gildan Activewear Inc. will post 4.5460385 EPS for the current fiscal year.

Gildan Activewear Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 14th. Shareholders of record on Monday, September 14th were given a $0.249 dividend. This represents a $1.00 annualized dividend and a yield of 1.7%. The ex-dividend date was Thursday, August 20th. Gildan Activewear’s dividend payout ratio is currently 186.27%.

Insider Buying and Selling

In other news, insider Maria Andrea Pirie Woodbridge sold 8,000 shares of the business’s 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 of the company’s stock, valued at C$170,310.99. The trade was a 78.10% decrease in their ownership of the stock. Insiders own 2.26% of the company’s stock.

About Gildan Activewear

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.