Gildan Activewear (TSE:GIL) Shares Down 22.5% – Here’s Why
by Sarita Garza · The Markets DailyGildan Activewear Inc. (TSE:GIL – Get Free Report) (NYSE:GIL) shares were down 22.5% on Tuesday . The company traded as low as C$65.15 and last traded at C$67.18. Approximately 1,280,384 shares traded hands during trading, an increase of 129% from the average daily volume of 558,805 shares. The stock had previously closed at C$86.63.
Analyst Upgrades and Downgrades
A number of equities research analysts have weighed in on GIL shares. TD Securities boosted their target price on shares of Gildan Activewear from C$77.00 to C$80.00 and gave the company a “buy” rating in a research note on Friday, February 27th. National Bank Financial boosted their target price 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 target price on shares of Gildan Activewear from C$95.00 to C$108.00 and gave the company a “buy” rating in a research note on Wednesday, February 25th. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$88.00.
View Our Latest Research Report on GIL
Gildan Activewear Price Performance
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 stock has a market capitalization of C$12.91 billion, a PE ratio of 41.24, a price-to-earnings-growth ratio of 4.55 and a beta of 1.49. The firm has a 50 day moving average price of C$80.48 and a 200 day moving average price of C$84.74.
Gildan Activewear (TSE:GIL – Get Free Report) (NYSE:GIL) last posted its quarterly earnings data on Thursday, April 30th. The company reported C$0.60 EPS for the quarter. The firm had revenue of C$1.62 billion during the quarter. Gildan Activewear had a return on equity of 10.08% and a net margin of 6.14%. Research analysts anticipate that Gildan Activewear Inc. will post 4.5460385 earnings per share for the current year.
Gildan Activewear Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 15th were paid a $0.249 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.4%. The ex-dividend date was Wednesday, May 20th. Gildan Activewear’s dividend payout ratio is 54.85%.
Insider Activity at Gildan Activewear
In related news, Director Deepak Kumar Khandelwal acquired 5,000 shares of Gildan Activewear stock in a transaction dated Monday, May 11th. The stock was purchased at an average cost of C$79.80 per share, for a total transaction of C$399,000.00. Following the purchase, the director directly owned 5,000 shares of the company’s stock, valued at approximately C$399,000. This trade represents a ∞ increase in their position. 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.