Gildan Activewear Inc. (NYSE:GIL) Short Interest Update
Gildan Activewear Inc. (NYSE:GIL – Get Free Report) (TSE:GIL) was the recipient of a large drop in short interest in November. As of November 15th, there was short interest totalling 5,320,000 shares, a drop of 12.6% from the October 31st total of 6,090,000 shares. Approximately 3.2% of the shares of the stock are short sold. Based on an average daily volume of 498,500 shares, the days-to-cover ratio is currently 10.7 days.
Analysts Set New Price Targets
Several analysts recently issued reports on the company. Scotiabank increased their price objective on Gildan Activewear from $36.50 to $39.50 and gave the stock an “outperform” rating in a report on Friday, November 3rd. StockNews.com upgraded shares of Gildan Activewear from a “sell” rating to a “hold” rating in a research note on Tuesday, November 7th. Royal Bank of Canada raised their price target on shares of Gildan Activewear from $36.00 to $39.00 and gave the stock an “outperform” rating in a research note on Friday, November 3rd. TD Securities raised their price target on shares of Gildan Activewear from $38.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, November 3rd. Finally, Desjardins raised their price target on shares of Gildan Activewear from $48.00 to $53.00 and gave the stock a “buy” rating in a research note on Friday, November 3rd. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $40.77.
Get Our Latest Stock Report on GIL
Institutional Trading of Gildan Activewear
A number of institutional investors have recently bought and sold shares of GIL. Byrne Asset Management LLC acquired a new position in shares of Gildan Activewear during the 3rd quarter worth about $34,000. EverSource Wealth Advisors LLC grew its stake in Gildan Activewear by 120.6% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,646 shares of the textile maker’s stock valued at $46,000 after buying an additional 900 shares during the last quarter. Addison Advisors LLC raised its holdings in Gildan Activewear by 97.5% in the 1st quarter. Addison Advisors LLC now owns 1,627 shares of the textile maker’s stock valued at $54,000 after acquiring an additional 803 shares during the period. Covestor Ltd bought a new position in shares of Gildan Activewear during the second quarter worth approximately $76,000. Finally, Signaturefd LLC raised its stake in Gildan Activewear by 16.0% in the 2nd quarter. Signaturefd LLC now owns 2,946 shares of the textile maker’s stock worth $95,000 after purchasing an additional 407 shares in the last quarter. Institutional investors and hedge funds own 79.09% of the company’s stock.
Gildan Activewear Price Performance
Shares of NYSE:GIL traded up $0.05 during trading on Monday, reaching $37.19. The stock had a trading volume of 340,579 shares, compared to its average volume of 546,089. Gildan Activewear has a 52 week low of $26.30 and a 52 week high of $37.31. The business’s 50-day moving average price is $31.27 and its 200 day moving average price is $30.49. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.50 and a quick ratio of 0.93. The stock has a market capitalization of $6.40 billion, a PE ratio of 14.23, a P/E/G ratio of 1.62 and a beta of 1.38.
Gildan Activewear (NYSE:GIL – Get Free Report) (TSE:GIL) last posted its earnings results on Thursday, November 2nd. The textile maker reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.01. The company had revenue of $869.90 million during the quarter, compared to analysts’ expectations of $834.15 million. Gildan Activewear had a net margin of 14.81% and a return on equity of 22.80%. As a group, equities analysts predict that Gildan Activewear will post 2.55 earnings per share for the current year.
Gildan Activewear Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, December 18th. Investors of record on Wednesday, November 22nd will be issued a $0.186 dividend. This represents a $0.74 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date of this dividend is Tuesday, November 21st. Gildan Activewear’s dividend payout ratio is currently 28.35%.
About Gildan Activewear (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, Comfort Colors, American Apparel, Alstyle, and GoldToe brands.
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Original: MarketBeat News Feed: Gildan Activewear Inc. (NYSE:GIL) Short Interest Update