Gildan Activewear Inc. (NYSE:GIL - Get Free Report) TSE: GIL shares saw strong trading volume on Monday . 3,200,321 shares were traded 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.
Analysts Set New Price Targets
A number of research firms recently weighed in on GIL. TD Securities boosted their target price on Gildan Activewear from $62.00 to $65.00 and gave the stock a "buy" rating in a report on Thursday, February 20th. Canaccord Genuity Group boosted their target price on Gildan Activewear from $53.00 to $58.00 and gave the stock a "buy" rating in a report on Thursday, February 20th. Stifel Nicolaus boosted their target price on Gildan Activewear from $60.00 to $65.00 and gave the stock a "buy" rating in a report on Thursday, February 20th. UBS Group boosted their target price on Gildan Activewear from $60.00 to $69.00 and gave the stock a "buy" rating in a report on Thursday, February 20th. Finally, Citigroup boosted their target price on Gildan Activewear from $59.00 to $62.00 and gave the stock a "buy" rating in a report on Thursday, February 20th. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat, Gildan Activewear has a consensus rating of "Buy" and a consensus price target of $60.00.
Read Our Latest Stock Report on GIL
Gildan Activewear Trading Up 1.0 %
The business has a 50-day moving average price of $50.74 and a two-hundred day moving average price of $48.55. The stock has a market capitalization of $7.06 billion, a P/E ratio of 18.56, a P/E/G ratio of 1.76 and a beta of 1.39. The company has a current ratio of 2.22, a quick ratio of 0.98 and a debt-to-equity ratio of 0.92.
Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last released its earnings results on Wednesday, February 19th. The textile maker reported $0.83 earnings per share for the quarter, missing analysts' consensus estimates of $1.13 by ($0.30). Gildan Activewear had a net margin of 12.26% and a return on equity of 28.80%. The company had revenue of $822.00 million for the quarter, compared to the consensus estimate of $805.75 million. During the same quarter in the previous year, the company posted $0.75 earnings per share. The business's revenue was up 5.0% compared to the same quarter last year. On average, analysts expect that Gildan Activewear Inc. will post 3.48 EPS for the current fiscal year.
Gildan Activewear Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Investors of record on Wednesday, March 12th will be given a dividend of $0.226 per share. 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 1.95%. The ex-dividend date is Wednesday, March 12th. Gildan Activewear's dividend payout ratio is currently 36.00%.
Hedge Funds Weigh In On Gildan Activewear
A number of institutional investors and hedge funds have recently bought and sold shares of GIL. Norges Bank acquired a new position in Gildan Activewear in the 4th quarter worth about $97,275,000. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Gildan Activewear by 604.1% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,850,971 shares of the textile maker's stock worth $86,999,000 after purchasing an additional 1,588,071 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in Gildan Activewear by 276.9% in the 4th quarter. The Manufacturers Life Insurance Company now owns 1,769,634 shares of the textile maker's stock worth $83,394,000 after purchasing an additional 1,300,121 shares in the last quarter. CIBC Asset Management Inc increased its holdings in Gildan Activewear by 545.1% in the 4th quarter. CIBC Asset Management Inc now owns 1,210,314 shares of the textile maker's stock worth $57,403,000 after purchasing an additional 1,022,695 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in Gildan Activewear by 776.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 817,204 shares of the textile maker's stock worth $38,414,000 after purchasing an additional 723,962 shares in the last quarter. Institutional investors and hedge funds own 82.83% of the company's stock.
Gildan Activewear Company Profile
(
Get Free Report)
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.
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