Gildan Activewear Inc. (GIL) Sees Unusually-High Trading Volume
Gildan Activewear Inc. (NYSE:GIL) saw unusually-strong trading volume on Friday . Approximately 778,292 shares changed hands during 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.
GIL has been the topic of several analyst reports. Desjardins restated a “buy” rating on shares of Gildan Activewear in a report on Thursday, July 7th. TD Securities restated a “buy” rating and set a $36.00 price objective on shares of Gildan Activewear in a report on Thursday, July 7th. Credit Suisse Group AG restated a “buy” rating on shares of Gildan Activewear in a report on Thursday, May 5th. Stifel Nicolaus lifted their price objective on Gildan Activewear from $32.00 to $35.00 and gave the stock a “buy” rating in a 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 report on Thursday, July 21st. Three research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Gildan Activewear presently has a consensus rating of “Buy” and an average price target of $36.71.
The company has a market capitalization of $6.75 billion and a price-to-earnings ratio of 20.26. The stock’s 50-day moving average price is $29.77 and its 200-day moving average price is $28.69.
Gildan Activewear (NYSE:GIL) last released its quarterly earnings results on Wednesday, July 27th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by $0.01. During the same period in the previous year, the business posted $0.42 EPS. The firm earned $689 million during the quarter, compared to the consensus estimate of $697.92 million. The business’s quarterly revenue was down 3.5% compared to the same quarter last year. Equities research analysts forecast that Gildan Activewear Inc. will post $1.53 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 6th. Investors of record on Thursday, August 11th will be paid a dividend of $0.078 per share. The ex-dividend date is Tuesday, August 9th. This represents a $0.31 annualized dividend and a yield of 1.07%.
A hedge fund recently raised its stake in Gildan Activewear stock. Poplar Forest Capital LLC raised its stake in shares of Gildan Activewear Inc. (NYSE:GIL) by 3.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. 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 as of its most recent filing with the SEC.
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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