Insider Buying: Gildan Activewear (TSE:GIL) Director Buys C$4,955,000.00 in Stock

Gildan Activewear Inc. (TSE:GIL) (NYSE:GIL) Director Glenn Chamandy bought 100,000 shares of the business’s stock in a transaction on Friday, November 6th. The stock was purchased at an average price of C$49.55 per share, for a total transaction of C$4,955,000.00. Following the completion of the acquisition, the director owned 1,379,665 shares of the company’s stock, valued at approximately C$68,362,400.75. This trade represents a 7.81% increase in their position.

Gildan Activewear Price Performance

Shares of GIL stock opened at C$51.01 on Thursday. Gildan Activewear Inc. has a 12-month low of C$43.69 and a 12-month high of C$100.44. The firm has a market capitalization of C$9.45 billion, a price-to-earnings ratio of 45.95, a price-to-earnings-growth ratio of 4.55 and a beta of 1.77. The company has a quick ratio of 0.87, a current ratio of 2.32 and a debt-to-equity ratio of 119.38. The firm has a fifty day moving average of C$60.28 and a 200-day moving average of C$75.89.

Gildan Activewear (TSE:GIL) (NYSE:GIL) last issued its quarterly earnings data on Thursday, November 5th. The company reported C$2.18 EPS for the quarter. The business had revenue of C$2.08 billion for the quarter. Gildan Activewear had a return on equity of 5.84% and a net margin of 3.87%. On average, equities research analysts forecast that Gildan Activewear Inc. will post 4.55 earnings per share for the current year.

Gildan Activewear Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 14th. Shareholders of record on Monday, September 14th were issued a $0.2490 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.0%. The ex-dividend date was Thursday, August 20th. Gildan Activewear’s dividend payout ratio is 87.66%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on GIL. Scotiabank lowered Gildan Activewear from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 6th. UBS Group lowered Gildan Activewear from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 6th. Scotia decreased their price objective on Gildan Activewear from C$67.00 to C$53.00 and set a “sector outperform” rating for the company in a research report on Tuesday, November 3rd. National Bank Financial lowered their target price on Gildan Activewear from C$107.00 to C$98.00 and set an “outperform” rating for the company in a research note on Monday, October 19th. Finally, Canaccord Genuity Group downgraded shares of Gildan Activewear from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 5th. Four equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Gildan Activewear currently has a consensus rating of “Moderate Buy” and an average price target of C$80.25.

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 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. and Canada and Polo Ralph Lauren also under a licensing agreement.