Gildan Activewear Inc. (GIL) Sees Large Volume Increase
Gildan Activewear Inc. (NYSE:GIL) saw unusually-high trading volume on Friday . Approximately 916,697 shares traded hands during mid-day trading, an increase of 58% from the previous session’s volume of 581,254 shares.The stock last traded at $30.00 and had previously closed at $29.48.
GIL has been the subject of several analyst reports. Canaccord Genuity increased their price target on shares of Gildan Activewear from $32.00 to $33.00 and gave the company a “buy” rating in a research note on Monday, March 14th. BMO Capital Markets increased their price target on shares of Gildan Activewear to $33.00 and gave the company an “outperform” rating in a research note on Monday, March 14th. Credit Suisse Group AG restated an “outperform” rating and issued a $41.00 price objective on shares of Gildan Activewear in a report on Tuesday, March 15th. Zacks Investment Research upgraded shares of Gildan Activewear from a “sell” rating to a “hold” rating in a report on Tuesday, April 12th. Finally, Royal Bank Of Canada upped their price objective on shares of Gildan Activewear from $32.00 to $34.00 and gave the stock an “outperform” rating in a report on Tuesday, April 26th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Gildan Activewear presently has an average rating of “Buy” and a consensus target price of $36.18.
The stock has a market cap of $7.07 billion and a price-to-earnings ratio of 20.75. The firm’s 50 day moving average price is $29.33 and its 200 day moving average price is $28.31.
Gildan Activewear (NYSE:GIL) last issued its quarterly earnings results on Wednesday, May 4th. The company reported $0.28 EPS for the quarter, hitting analysts’ consensus estimates of $0.28. The firm had revenue of $593.30 million for the quarter, compared to analysts’ expectations of $617.38 million. During the same quarter last year, the firm earned $0.24 earnings per share. The business’s quarterly revenue was down 6.7% compared to the same quarter last year. Equities research analysts anticipate that Gildan Activewear Inc. will post $1.59 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, June 13th. Stockholders of record on Thursday, May 19th were issued a dividend of $0.078 per share. The ex-dividend date of this dividend was Tuesday, May 17th. This represents a $0.31 dividend on an annualized basis and a dividend yield of 1.04%.
Other large investors recently added to or reduced their stakes in the company. Wells Fargo & Company MN increased its stake in Gildan Activewear by 18.4% in the fourth quarter. Wells Fargo & Company MN now owns 36,705 shares of the company’s stock worth $1,042,000 after buying an additional 5,707 shares during the last quarter. Cooke & Bieler LP increased its stake in Gildan Activewear by 30.8% in the fourth quarter. Cooke & Bieler LP now owns 4,360,077 shares of the company’s stock worth $123,913,000 after buying an additional 1,027,658 shares during the last quarter. Finally, American Century Companies Inc. bought a new stake in Gildan Activewear during the fourth quarter worth about $7,594,000.
Gildan Activewear Inc is a manufacturer and marketer of branded basic family apparel. The Company’s segments include Printwear and Branded Apparel. It offers T-shirts, fleece, sport shirts, underwear, socks, hosiery and shapewear. It markets its products through approximately two main distribution channels.
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