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

Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) shares saw unusually-strong trading volume on Tuesday . Approximately 2,511,460 shares changed 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.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on GIL shares. Cfra Research raised shares of Gildan Activewear to a “hold” rating in a report on Monday, August 4th. Barclays reiterated an “overweight” rating and set a $70.00 price target (up previously from $64.00) on shares of Gildan Activewear in a research note on Thursday, October 30th. Stifel Nicolaus set a $75.00 price objective on Gildan Activewear and gave the stock a “buy” rating in a research note on Friday, September 19th. Weiss Ratings restated a “buy (b-)” rating on shares of Gildan Activewear in a research note on Monday. Finally, TD Cowen increased their price objective on shares of Gildan Activewear from $67.00 to $73.00 and gave the stock a “buy” rating in a research note on Monday, October 6th. Twelve analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $72.15.

Gildan Activewear Price Performance

The stock has a market capitalization of $8.48 billion, a PE ratio of 18.19, a P/E/G ratio of 1.93 and a beta of 1.22. The company has a debt-to-equity ratio of 1.37, a current ratio of 3.87 and a quick ratio of 1.67. The stock’s fifty day moving average is $58.14 and its 200-day moving average is $53.27.

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 company had revenue of $910.60 million during the quarter, compared to analysts’ expectations of $925.24 million. Gildan Activewear had a net margin of 14.13% and a return on equity of 35.90%. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.85 earnings per share. Gildan Activewear has set its FY 2025 guidance at 3.450-3.510 EPS. As a group, equities analysts predict that Gildan Activewear, Inc. will post 3.48 earnings per share for the current fiscal year.

Gildan Activewear Announces Dividend

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

Institutional Investors Weigh In On Gildan Activewear

Institutional investors have recently bought and sold shares of the company. Integrated Advisors Network LLC increased its stake in Gildan Activewear by 3.0% during the 3rd quarter. Integrated Advisors Network LLC now owns 6,365 shares of the textile maker’s stock worth $368,000 after buying an additional 185 shares in the last quarter. Bank of Nova Scotia Trust Co. raised its position in shares of Gildan Activewear by 2.5% in the second quarter. Bank of Nova Scotia Trust Co. now owns 8,499 shares of the textile maker’s stock valued at $418,000 after buying an additional 207 shares during the last quarter. Signaturefd LLC raised its position in shares of Gildan Activewear by 2.8% in the third quarter. Signaturefd LLC now owns 7,659 shares of the textile maker’s stock valued at $443,000 after buying an additional 209 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its stake in shares of Gildan Activewear by 0.3% in the second quarter. DekaBank Deutsche Girozentrale now owns 73,619 shares of the textile maker’s stock worth $3,612,000 after buying an additional 231 shares in the last quarter. Finally, Blue Trust Inc. lifted its stake in shares of Gildan Activewear by 12.1% in the third quarter. Blue Trust Inc. now owns 2,268 shares of the textile maker’s stock worth $131,000 after buying an additional 245 shares in the last quarter. 82.83% of the stock is currently owned by institutional investors and hedge funds.

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.