Gildan Activewear Inc. (TSE:GIL – Get Free Report) (NYSE:GIL) shares were down 22.5% during trading 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 mid-day trading, an increase of 129% from the average daily volume of 558,805 shares. The stock had previously closed at C$86.63.
Wall Street Analysts Forecast Growth
A number of analysts have recently commented on GIL shares. Desjardins boosted their price target on Gildan Activewear from C$95.00 to C$108.00 and gave the stock a “buy” rating in a research report on Wednesday, February 25th. National Bank Financial upped their price objective on Gildan Activewear from C$100.00 to C$101.00 and gave the company an “outperform” rating in a research report on Friday, May 1st. Finally, TD Securities upped their price objective on Gildan Activewear from C$77.00 to C$80.00 and gave the company a “buy” rating in a research report on Friday, February 27th. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Gildan Activewear presently has an average rating of “Moderate Buy” and a consensus target price of C$88.00.
Check Out Our Latest Research Report on Gildan Activewear
Gildan Activewear Price Performance
Gildan Activewear (TSE:GIL – Get Free Report) (NYSE:GIL) last released its quarterly earnings data on Thursday, April 30th. The company reported C$0.60 earnings per share (EPS) for the quarter. The business had revenue of C$1.62 billion for the quarter. Gildan Activewear had a return on equity of 10.08% and a net margin of 6.14%. As a group, analysts predict that Gildan Activewear Inc. will post 4.5460385 EPS for the current year.
Gildan Activewear Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 15th were paid a dividend of $0.249 per share. The ex-dividend date was Wednesday, May 20th. This represents a $1.00 dividend on an annualized basis and a yield of 1.4%. Gildan Activewear’s payout ratio is currently 54.85%.
Insiders Place Their Bets
In related news, Director Deepak Kumar Khandelwal bought 5,000 shares of the firm’s stock in a transaction on Monday, May 11th. The stock was acquired at an average cost of C$79.80 per share, for a total transaction of C$399,000.00. Following the purchase, the director owned 5,000 shares in the company, valued at approximately C$399,000. This represents a ∞ increase in their ownership of the stock. Corporate 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.
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