Gildan Activewear (NYSE:GIL) Sees Large Volume Increase – Here’s Why

Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) shares saw unusually-high trading volume on Tuesday . Approximately 2,511,460 shares traded hands during trading, an increase of 195% from the previous session’s volume of 851,090 shares.The stock last traded at $57.3250 and had previously closed at $56.80.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Wall Street Zen downgraded shares of Gildan Activewear from a “buy” rating to a “hold” rating in a report on Saturday, September 6th. Desjardins lifted their target price on shares of Gildan Activewear from $80.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, October 27th. UBS Group set a $80.00 price target on shares of Gildan Activewear and gave the company a “buy” rating in a research note on Friday, October 31st. CIBC raised their price objective on shares of Gildan Activewear from $56.00 to $60.00 and gave the stock an “outperformer” rating in a research report on Friday, August 1st. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Gildan Activewear in a report on Monday. Twelve equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $72.15.

Gildan Activewear Stock Down 0.1%

The company has a current ratio of 3.87, a quick ratio of 1.67 and a debt-to-equity ratio of 1.37. The firm has a market cap of $8.32 billion, a price-to-earnings ratio of 17.83, a PEG ratio of 1.93 and a beta of 1.22. The firm’s 50 day simple moving average is $58.22 and its two-hundred day simple moving average is $53.37.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last announced its earnings results on Wednesday, October 29th. The textile maker reported $1.00 EPS for the quarter, topping the consensus estimate of $0.98 by $0.02. Gildan Activewear had a net margin of 14.13% and a return on equity of 35.90%. The company had revenue of $910.60 million for the quarter, compared to analysts’ expectations of $925.24 million. During the same period last year, the firm earned $0.85 earnings per share. The business’s revenue for the quarter was up 2.2% on a year-over-year basis. Gildan Activewear has set its FY 2025 guidance at 3.450-3.510 EPS. On average, equities analysts forecast that Gildan Activewear, Inc. will post 3.48 EPS for the current year.

Gildan Activewear Dividend Announcement

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in Gildan Activewear by 0.6% during the third quarter. Vanguard Group Inc. now owns 6,005,233 shares of the textile maker’s stock worth $346,928,000 after purchasing an additional 32,917 shares during the period. Mackenzie Financial Corp raised its position in shares of Gildan Activewear by 9.6% in the 3rd quarter. Mackenzie Financial Corp now owns 4,858,829 shares of the textile maker’s stock valued at $280,639,000 after buying an additional 424,809 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Gildan Activewear by 24.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,678,451 shares of the textile maker’s stock worth $180,305,000 after acquiring an additional 718,896 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of Gildan Activewear by 67.2% during the 1st quarter. The Manufacturers Life Insurance Company now owns 2,959,555 shares of the textile maker’s stock worth $131,556,000 after acquiring an additional 1,189,921 shares in the last quarter. Finally, Lazard Asset Management LLC boosted its position in shares of Gildan Activewear by 95.2% during the 3rd quarter. Lazard Asset Management LLC now owns 2,799,309 shares of the textile maker’s stock worth $161,749,000 after acquiring an additional 1,364,953 shares in the last quarter. Institutional investors own 82.83% of the company’s stock.

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, Glidan Softstyle, Gildan Heavy Cotton, Gildan Ultra Cotton, Gildan DryBlend, Gildan HeavyBlend, Comfort Colors, and American Apparel brands.