Gildan Activewear (NYSE:GIL) Sees Strong Trading Volume – Here’s What Happened

Shares of Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) saw unusually-high trading volume on Friday . Approximately 2,727,160 shares were traded during trading, an increase of 209% from the previous session’s volume of 882,697 shares.The stock last traded at $56.5870 and had previously closed at $57.34.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Barclays reissued an “overweight” rating and set a $70.00 price target (up previously from $64.00) on shares of Gildan Activewear in a research report on Thursday, October 30th. UBS Group set a $80.00 target price on shares of Gildan Activewear and gave the stock a “buy” rating in a report on Friday, October 31st. Weiss Ratings reissued a “buy (b-)” rating on shares of Gildan Activewear in a research note on Monday, November 17th. Wall Street Zen lowered Gildan Activewear from a “buy” rating to a “hold” rating in a research report on Saturday, September 6th. Finally, Desjardins increased their price objective on Gildan Activewear from $80.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, October 27th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, Gildan Activewear has a consensus rating of “Moderate Buy” and a consensus target price of $72.15.

Gildan Activewear Trading Down 1.5%

The stock has a market cap of $8.42 billion, a PE ratio of 18.05, a price-to-earnings-growth ratio of 1.93 and a beta of 1.22. The firm has a 50-day moving average price of $58.48 and a 200-day moving average price of $53.72. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.67 and a current ratio of 3.87.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last released its quarterly earnings data on Wednesday, October 29th. The textile maker reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.02. The business had revenue of $910.60 million during the quarter, compared to analyst estimates of $925.24 million. Gildan Activewear had a net margin of 14.13% and a return on equity of 35.90%. Gildan Activewear’s revenue was up 2.2% compared to the same quarter last year. During the same period last year, the business earned $0.85 EPS. Gildan Activewear has set its FY 2025 guidance at 3.450-3.510 EPS. As a group, equities analysts anticipate that Gildan Activewear, Inc. will post 3.48 EPS for the current fiscal year.

Gildan Activewear Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Wednesday, November 19th will be issued a $0.226 dividend. The ex-dividend date is Wednesday, November 19th. This represents a $0.90 annualized dividend and a yield of 1.6%. Gildan Activewear’s dividend payout ratio (DPR) is currently 28.75%.

Institutional Trading of Gildan Activewear

A number of hedge funds have recently bought and sold shares of GIL. Brown Brothers Harriman & Co. raised its position in Gildan Activewear by 867.9% in the third quarter. Brown Brothers Harriman & Co. now owns 513 shares of the textile maker’s stock worth $30,000 after acquiring an additional 460 shares during the period. Maseco LLP purchased a new stake in shares of Gildan Activewear in the 2nd quarter worth $26,000. CIBC Private Wealth Group LLC increased its stake in shares of Gildan Activewear by 169.0% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 538 shares of the textile maker’s stock worth $31,000 after purchasing an additional 338 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in Gildan Activewear by 161.8% in the 2nd quarter. Smartleaf Asset Management LLC now owns 555 shares of the textile maker’s stock worth $27,000 after purchasing an additional 343 shares during the period. Finally, Advisory Services Network LLC purchased a new position in Gildan Activewear during the third quarter valued at $36,000. 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.