Gildan Activewear (NYSE:GIL) Sees Strong Trading Volume

Shares of Gildan Activewear Inc. (NYSE:GILGet Free Report) (TSE:GIL) saw unusually-high trading volume on Wednesday . Approximately 4,192,396 shares were traded during mid-day trading, an increase of 401% from the previous session’s volume of 836,921 shares.The stock last traded at $35.59 and had previously closed at $35.77.

Analyst Ratings Changes

Several research analysts recently commented on GIL shares. Canaccord Genuity Group lifted their price target on Gildan Activewear from $42.00 to $43.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Canaccord Genuity Group lifted their price target on Gildan Activewear from $42.00 to $43.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Stifel Nicolaus lifted their price target on Gildan Activewear from $34.00 to $36.00 and gave the stock a “hold” rating in a research report on Thursday, February 22nd. Citigroup boosted their target price on Gildan Activewear from $40.00 to $44.00 and gave the company a “buy” rating in a research report on Friday, February 23rd. Finally, TD Securities boosted their target price on Gildan Activewear from $42.00 to $46.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $41.95.

View Our Latest Analysis on GIL

Gildan Activewear Stock Up 5.8 %

The stock has a market capitalization of $6.34 billion, a PE ratio of 12.71, a price-to-earnings-growth ratio of 1.35 and a beta of 1.38. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.38 and a quick ratio of 0.92. The business’s fifty day moving average price is $35.51 and its two-hundred day moving average price is $34.51.

Gildan Activewear (NYSE:GILGet Free Report) (TSE:GIL) last announced its quarterly earnings data on Wednesday, May 1st. The textile maker reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.07. Gildan Activewear had a net margin of 16.14% and a return on equity of 24.00%. The firm had revenue of $695.80 million for the quarter, compared to analyst estimates of $692.94 million. During the same period in the previous year, the company earned $0.45 earnings per share. The business’s quarterly revenue was down 1.0% compared to the same quarter last year. On average, equities research analysts forecast that Gildan Activewear Inc. will post 2.94 EPS for the current fiscal year.

Gildan Activewear Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Thursday, May 23rd will be issued a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 2.18%. The ex-dividend date of this dividend is Wednesday, May 22nd. Gildan Activewear’s payout ratio is 27.70%.

Institutional Investors Weigh In On Gildan Activewear

Several hedge funds have recently modified their holdings of GIL. CWM LLC raised its position in shares of Gildan Activewear by 86.5% during the 4th quarter. CWM LLC now owns 1,074 shares of the textile maker’s stock worth $35,000 after purchasing an additional 498 shares during the last quarter. Natixis acquired a new position in shares of Gildan Activewear during the 1st quarter worth about $51,000. EverSource Wealth Advisors LLC raised its position in shares of Gildan Activewear by 120.6% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,646 shares of the textile maker’s stock worth $46,000 after purchasing an additional 900 shares during the last quarter. UniSuper Management Pty Ltd raised its position in shares of Gildan Activewear by 69.2% during the 1st quarter. UniSuper Management Pty Ltd now owns 2,200 shares of the textile maker’s stock worth $82,000 after purchasing an additional 900 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its position in shares of Gildan Activewear by 529.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,215 shares of the textile maker’s stock worth $73,000 after purchasing an additional 1,863 shares during the last quarter. 82.83% of the stock is owned by hedge funds and other institutional investors.

Gildan Activewear Company Profile

(Get Free Report)

Gildan Activewear Inc manufactures and sells various apparel products in the United States, North America, Europe, Asia-Pacific, and Latin America. It provides various activewear products, including T-shirts, fleece tops and bottoms, and sports shirts under the Gildan, Gildan Performance, Gildan Hammer, Glidan Softstyle, Gildan Heavy Cotton, Gildan Ultra Cotton, Gildan DryBlend, Gildan HeavyBlend, Comfort Colors, and American Apparel brands.

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