Gildan Activewear (NYSE:GIL) Sees Large Volume Increase - Here's Why

Gildan Activewear Inc. (NYSE:GIL - Get Free Report) TSE: GIL shares saw strong trading volume on Tuesday . 422,892 shares changed hands during mid-day trading, a decline of 8% from the previous session's volume of 461,434 shares.The stock last traded at $49.00 and had previously closed at $47.97.

Analysts Set New Price Targets

GIL has been the subject of several recent research reports. TD Securities boosted their target price on shares of Gildan Activewear from $58.00 to $60.00 and gave the company a "buy" rating in a research note on Monday, December 2nd. BMO Capital Markets boosted their price objective on shares of Gildan Activewear from $47.00 to $58.00 and gave the company an "outperform" rating in a research report on Friday, November 1st. CIBC raised their target price on shares of Gildan Activewear from $48.00 to $56.00 and gave the stock an "outperform" rating in a report on Friday, November 1st. Citigroup raised their price target on Gildan Activewear from $54.00 to $59.00 and gave the stock a "buy" rating in a report on Friday, November 1st. Finally, UBS Group upgraded Gildan Activewear from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $50.00 to $60.00 in a research note on Friday. Ten analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $53.35.

Gildan Activewear Stock Up 2.6 %

The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.98 and a current ratio of 2.31. The stock has a market cap of $7.52 billion, a price-to-earnings ratio of 19.45, a price-to-earnings-growth ratio of 1.82 and a beta of 1.41. The business's 50 day moving average is $48.28 and its 200 day moving average is $45.29.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last announced its quarterly earnings data on Thursday, October 31st. The textile maker reported $0.85 EPS for the quarter, hitting analysts' consensus estimates of $0.85. Gildan Activewear had a return on equity of 26.88% and a net margin of 13.06%. The firm had revenue of $891.10 million during the quarter, compared to analyst estimates of $882.85 million. During the same period last year, the company posted $0.74 EPS. The business's quarterly revenue was up 2.4% compared to the same quarter last year. Equities analysts expect that Gildan Activewear Inc. will post 2.97 earnings per share for the current year.

Gildan Activewear Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Thursday, November 21st were given a dividend of $0.152 per share. The ex-dividend date was Thursday, November 21st. This represents a $0.61 dividend on an annualized basis and a yield of 1.24%. Gildan Activewear's payout ratio is 32.41%.

Hedge Funds Weigh In On Gildan Activewear

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Janus Henderson Group PLC lifted its position in shares of Gildan Activewear by 3.6% in the third quarter. Janus Henderson Group PLC now owns 6,841,572 shares of the textile maker's stock worth $322,298,000 after buying an additional 240,375 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Gildan Activewear by 14.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,568,733 shares of the textile maker's stock valued at $97,290,000 after acquiring an additional 324,304 shares in the last quarter. Simcoe Capital Management LLC lifted its holdings in Gildan Activewear by 10.5% in the 3rd quarter. Simcoe Capital Management LLC now owns 2,387,865 shares of the textile maker's stock worth $112,492,000 after purchasing an additional 226,695 shares during the last quarter. EdgePoint Investment Group Inc. boosted its position in Gildan Activewear by 28.0% during the second quarter. EdgePoint Investment Group Inc. now owns 1,863,618 shares of the textile maker's stock worth $70,696,000 after purchasing an additional 407,113 shares during the period. Finally, Vaughan Nelson Investment Management L.P. grew its holdings in Gildan Activewear by 2.8% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 1,618,420 shares of the textile maker's stock valued at $76,244,000 after purchasing an additional 44,725 shares during the last quarter. 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.