Gildan Activewear Inc. (GIL) Sees Strong Trading Volume
Shares of Gildan Activewear Inc. (NYSE:GIL) saw an uptick in trading volume on Friday . 916,697 shares were traded 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.
Several research firms recently commented on GIL. TD Securities reaffirmed a “buy” rating and issued a $36.00 price objective on shares of Gildan Activewear in a report on Thursday. Scotiabank reaffirmed an “outperform” rating and issued a $44.00 price objective on shares of Gildan Activewear in a report on Wednesday. National Bank Financial reaffirmed an “outperform” rating and issued a $43.00 price objective (up from $42.00) on shares of Gildan Activewear in a report on Friday, May 6th. Credit Suisse Group AG reiterated a “buy” rating on shares of Gildan Activewear in a research note on Thursday, May 5th. Finally, Royal Bank Of Canada increased their target price on shares of Gildan Activewear from $34.00 to $35.00 and gave the stock an “outperform” rating in a research note on Thursday, May 5th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $36.18.
The firm’s 50 day moving average is $29.33 and its 200-day moving average is $28.31. The company has a market cap of $7.07 billion and a PE ratio of 20.75.
Gildan Activewear (NYSE:GIL) last announced its earnings results on Wednesday, May 4th. The company reported $0.28 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.28. The business had revenue of $593.30 million for the quarter, compared to the consensus estimate of $617.38 million. During the same quarter last year, the firm posted $0.24 earnings per share. The business’s quarterly revenue was down 6.7% compared to the same quarter last year. On average, equities analysts expect that Gildan Activewear Inc. will post $1.59 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, June 13th. Investors of record on Thursday, May 19th were given a dividend of $0.078 per share. The ex-dividend date of this dividend was Tuesday, May 17th. This represents a $0.31 annualized dividend and a yield of 1.04%.
Other hedge funds have made changes to their positions in the company. Wells Fargo & Company MN raised its stake in shares of Gildan Activewear by 18.4% in the fourth quarter. Wells Fargo & Company MN now owns 36,705 shares of the company’s stock valued at $1,042,000 after buying an additional 5,707 shares during the period. Cooke & Bieler LP raised its position 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. purchased a new position in Gildan Activewear during the fourth quarter worth $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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