Gildan Activewear Inc. (NYSE:GIL – Get Rating) (TSE:GIL) was the recipient of a large growth in short interest in April. As of April 30th, there was short interest totalling 1,760,000 shares, a growth of 30.4% from the April 15th total of 1,350,000 shares. Approximately 1.0% of the shares of the company are sold short. Based on an average daily volume of 644,600 shares, the short-interest ratio is currently 2.7 days.
Gildan Activewear stock traded up $0.36 during midday trading on Tuesday, reaching $31.58. 913,987 shares of the stock traded hands, compared to its average volume of 659,795. The stock has a market cap of $5.90 billion, a P/E ratio of 9.43, a PEG ratio of 1.16 and a beta of 1.43. The stock’s fifty day moving average is $35.48 and its 200-day moving average is $38.68. The company has a quick ratio of 1.54, a current ratio of 3.33 and a debt-to-equity ratio of 0.50. Gildan Activewear has a 12 month low of $29.17 and a 12 month high of $43.63.
Gildan Activewear (NYSE:GIL – Get Rating) (TSE:GIL) last posted its earnings results on Wednesday, May 4th. The textile maker reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.26. Gildan Activewear had a return on equity of 31.46% and a net margin of 21.07%. The firm had revenue of $774.90 million during the quarter, compared to the consensus estimate of $666.81 million. During the same period in the prior year, the company earned $0.48 EPS. The company’s quarterly revenue was up 31.4% compared to the same quarter last year. On average, equities analysts predict that Gildan Activewear will post 2.97 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently made changes to their positions in GIL. Principal Financial Group Inc. purchased a new position in Gildan Activewear in the first quarter worth about $114,818,000. Norges Bank bought a new stake in shares of Gildan Activewear in the 4th quarter valued at approximately $82,805,000. Clark Capital Management Group Inc. purchased a new position in shares of Gildan Activewear in the 1st quarter worth approximately $31,558,000. Alberta Investment Management Corp increased its position in shares of Gildan Activewear by 97.9% during the 4th quarter. Alberta Investment Management Corp now owns 1,360,969 shares of the textile maker’s stock valued at $57,783,000 after purchasing an additional 673,265 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in Gildan Activewear by 230.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 958,375 shares of the textile maker’s stock valued at $40,625,000 after buying an additional 668,192 shares during the period. Hedge funds and other institutional investors own 75.31% of the company’s stock.
Several research firms have recently commented on GIL. Desjardins decreased their price objective on Gildan Activewear from C$63.00 to C$55.00 in a research note on Friday, May 6th. National Bank Financial dropped their price target on shares of Gildan Activewear from C$65.00 to C$64.00 in a research report on Wednesday, March 30th. StockNews.com downgraded shares of Gildan Activewear from a “buy” rating to a “hold” rating in a research report on Friday. TD Securities upped their target price on shares of Gildan Activewear from $50.00 to $51.00 and gave the stock a “buy” rating in a report on Thursday, February 24th. Finally, Royal Bank of Canada increased their price target on Gildan Activewear from $51.00 to $52.00 and gave the stock an “outperform” rating in a research note on Thursday, May 5th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $49.82.
About Gildan Activewear (Get Rating)
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.
- Get a free copy of the StockNews.com research report on Gildan Activewear (GIL)
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