Gildan Activewear Inc. (NYSE:GIL – Get Rating) (TSE:GIL) was the recipient of a significant increase in short interest in the month of December. As of December 15th, there was short interest totalling 4,080,000 shares, an increase of 16.6% from the November 30th total of 3,500,000 shares. Based on an average daily volume of 561,500 shares, the short-interest ratio is presently 7.3 days. Currently, 2.3% of the company’s stock are short sold.
Hedge Funds Weigh In On Gildan Activewear
A number of hedge funds have recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. boosted its stake in Gildan Activewear by 180.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 927 shares of the textile maker’s stock worth $27,000 after purchasing an additional 597 shares during the period. Addison Advisors LLC raised its holdings in shares of Gildan Activewear by 311.9% in the third quarter. Addison Advisors LLC now owns 1,071 shares of the textile maker’s stock valued at $30,000 after buying an additional 811 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in shares of Gildan Activewear during the third quarter worth about $46,000. Jones Financial Companies Lllp grew its holdings in shares of Gildan Activewear by 1,432.5% during the third quarter. Jones Financial Companies Lllp now owns 3,065 shares of the textile maker’s stock worth $87,000 after buying an additional 2,865 shares during the last quarter. Finally, Tower Research Capital LLC TRC acquired a new position in Gildan Activewear in the 3rd quarter valued at about $106,000. 75.07% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of equities research analysts have issued reports on GIL shares. StockNews.com initiated coverage on Gildan Activewear in a research report on Wednesday, October 12th. They issued a “hold” rating on the stock. TD Securities decreased their price target on shares of Gildan Activewear from $44.00 to $43.00 and set a “buy” rating for the company in a research note on Friday, October 7th. Royal Bank of Canada lowered their price target on shares of Gildan Activewear from $40.00 to $39.00 and set an “outperform” rating for the company in a report on Wednesday, November 2nd. Desjardins reaffirmed a “buy” rating on shares of Gildan Activewear in a research report on Friday, October 14th. Finally, National Bank Financial boosted their target price on shares of Gildan Activewear from C$43.00 to C$45.00 in a research note on Monday, October 17th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.25.
Gildan Activewear Stock Up 0.7 %
Shares of NYSE GIL traded up $0.19 during mid-day trading on Friday, reaching $27.40. The company had a trading volume of 703,547 shares, compared to its average volume of 523,030. The firm has a 50 day simple moving average of $28.67 and a two-hundred day simple moving average of $29.32. Gildan Activewear has a 52-week low of $25.67 and a 52-week high of $43.42. The company has a current ratio of 2.58, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. The stock has a market cap of $4.92 billion, a P/E ratio of 8.18, a PEG ratio of 0.97 and a beta of 1.25.
Gildan Activewear (NYSE:GIL – Get Rating) (TSE:GIL) last released its quarterly earnings data on Thursday, November 3rd. The textile maker reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.03. Gildan Activewear had a net margin of 19.11% and a return on equity of 32.33%. The company had revenue of $850.00 million during the quarter, compared to the consensus estimate of $836.47 million. During the same quarter in the prior year, the firm posted $0.80 earnings per share. Gildan Activewear’s revenue for the quarter was up 6.0% on a year-over-year basis. Sell-side analysts predict that Gildan Activewear will post 3.13 earnings per share for the current year.
Gildan Activewear Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, December 19th. Shareholders of record on Wednesday, November 23rd were paid a $0.169 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date was Tuesday, November 22nd. Gildan Activewear’s dividend payout ratio is currently 20.30%.
About Gildan Activewear
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, Comfort Colors, American Apparel, Alstyle, and GoldToe brands.
See Also
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Gildan Activewear, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Gildan Activewear wasn’t on the list.
While Gildan Activewear currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
