Gildan Activewear Inc. (GIL) Sees Strong Trading Volume
Gildan Activewear Inc. (NYSE:GIL) shares saw unusually-strong trading volume on Friday . Approximately 778,292 shares were traded during mid-day trading, an increase of 92% from the previous session’s volume of 405,931 shares.The stock last traded at $29.12 and had previously closed at $29.33.
Several analysts have weighed in on GIL shares. Desjardins reissued a “buy” rating on shares of Gildan Activewear in a report on Thursday, July 7th. TD Securities restated a “buy” rating and issued a $36.00 price objective on shares of Gildan Activewear in a research report on Thursday, July 7th. Credit Suisse Group AG restated a “buy” rating on shares of Gildan Activewear in a research report on Thursday, May 5th. Stifel Nicolaus upped their price objective on Gildan Activewear from $32.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday, May 5th. Finally, Zacks Investment Research upgraded Gildan Activewear from a “hold” rating to a “buy” rating and set a $35.00 price objective on the stock in a research report on Thursday, July 21st. Three research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $36.71.
The company has a 50-day moving average price of $29.77 and a 200-day moving average price of $28.69. The stock has a market cap of $6.75 billion and a P/E ratio of 20.26.
Gildan Activewear (NYSE:GIL) last issued its earnings results on Wednesday, July 27th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.42 by $0.01. The company earned $689 million during the quarter, compared to analyst estimates of $697.92 million. The firm’s revenue was down 3.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.42 EPS. Analysts anticipate that Gildan Activewear Inc. will post $1.53 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 6th. Investors of record on Thursday, August 11th will be issued a $0.078 dividend. This represents a $0.31 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date of this dividend is Tuesday, August 9th.
An institutional investor recently raised its position in Gildan Activewear stock. Poplar Forest Capital LLC increased its position in Gildan Activewear Inc. (NYSE:GIL) by 3.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 58,900 shares of the company’s stock after buying an additional 2,200 shares during the period. Poplar Forest Capital LLC’s holdings in Gildan Activewear were worth $1,674,000 at the end of the most recent quarter.
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.