Gildan Activewear (NYSE:GIL) Sees Unusually-High Trading Volume – Here’s Why

Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) shares saw unusually-strong trading volume on Monday . Approximately 3,200,321 shares traded hands during trading, an increase of 521% from the previous session’s volume of 515,571 shares.The stock last traded at $48.58 and had previously closed at $49.51.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on GIL. TD Securities lifted their price target on Gildan Activewear from $62.00 to $65.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Canaccord Genuity Group lifted their target price on shares of Gildan Activewear from $53.00 to $58.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. UBS Group upped their price target on shares of Gildan Activewear from $60.00 to $69.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Citigroup raised their price objective on shares of Gildan Activewear from $59.00 to $62.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Finally, BMO Capital Markets upped their target price on Gildan Activewear from $58.00 to $64.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $60.00.

Gildan Activewear Trading Down 0.4 %

The firm has a fifty day moving average of $50.65 and a 200-day moving average of $48.48. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.98 and a current ratio of 2.22. The stock has a market capitalization of $7.50 billion, a price-to-earnings ratio of 19.72, a P/E/G ratio of 1.76 and a beta of 1.39.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its earnings results on Wednesday, February 19th. The textile maker reported $0.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.30). The company had revenue of $822.00 million during the quarter, compared to analyst estimates of $805.75 million. Gildan Activewear had a net margin of 12.26% and a return on equity of 28.80%. Gildan Activewear’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.75 EPS. As a group, equities analysts predict that Gildan Activewear Inc. will post 3.48 earnings per share for the current fiscal year.

Gildan Activewear Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Wednesday, March 12th will be paid a $0.226 dividend. The ex-dividend date of this dividend is Wednesday, March 12th. This is an increase from Gildan Activewear’s previous quarterly dividend of $0.15. This represents a $0.90 annualized dividend and a dividend yield of 1.83%. Gildan Activewear’s dividend payout ratio is 36.00%.

Institutional Investors Weigh In On Gildan Activewear

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Polar Asset Management Partners Inc. grew its stake in shares of Gildan Activewear by 55.6% during the fourth quarter. Polar Asset Management Partners Inc. now owns 26,450 shares of the textile maker’s stock valued at $1,244,000 after acquiring an additional 9,450 shares in the last quarter. Public Employees Retirement System of Ohio raised its stake in Gildan Activewear by 262.4% during the fourth quarter. Public Employees Retirement System of Ohio now owns 45,451 shares of the textile maker’s stock valued at $2,138,000 after buying an additional 32,911 shares in the last quarter. Vident Advisory LLC bought a new position in Gildan Activewear during the 4th quarter worth approximately $402,000. Virtus Investment Advisers Inc. acquired a new position in shares of Gildan Activewear in the 4th quarter worth approximately $173,000. Finally, Twinbeech Capital LP bought a new stake in shares of Gildan Activewear in the 4th quarter valued at approximately $206,000. Hedge funds and other institutional investors own 82.83% of the company’s stock.

Gildan Activewear Company Profile

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.