Gildan Activewear Inc. (NYSE:GIL – Get Free Report) (TSE:GIL) saw a large drop in short interest in November. As of November 30th, there was short interest totalling 1,880,000 shares, a drop of 6.0% from the November 15th total of 2,000,000 shares. Currently, 1.3% of the shares of the stock are short sold. Based on an average daily volume of 581,700 shares, the short-interest ratio is presently 3.2 days.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the company. Riverview Trust Co bought a new position in Gildan Activewear during the 3rd quarter worth approximately $29,000. Blue Trust Inc. increased its stake in shares of Gildan Activewear by 96.1% in the 3rd quarter. Blue Trust Inc. now owns 810 shares of the textile maker’s stock valued at $38,000 after acquiring an additional 397 shares in the last quarter. Cullen Frost Bankers Inc. bought a new stake in shares of Gildan Activewear in the 2nd quarter valued at $51,000. Tobam bought a new stake in shares of Gildan Activewear in the 2nd quarter valued at $53,000. Finally, CWM LLC increased its stake in shares of Gildan Activewear by 23.0% in the 3rd quarter. CWM LLC now owns 1,698 shares of the textile maker’s stock valued at $80,000 after acquiring an additional 318 shares in the last quarter. Institutional investors own 82.83% of the company’s stock.
Gildan Activewear Stock Down 0.4 %
Shares of NYSE GIL opened at $48.46 on Wednesday. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.31 and a quick ratio of 0.98. Gildan Activewear has a 1 year low of $30.68 and a 1 year high of $50.60. The company has a 50 day simple moving average of $48.61 and a 200 day simple moving average of $44.08. The firm has a market cap of $7.41 billion, a PE ratio of 19.15, a price-to-earnings-growth ratio of 1.82 and a beta of 1.40.
Gildan Activewear Cuts Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Thursday, November 21st were issued a dividend of $0.152 per share. The ex-dividend date was Thursday, November 21st. This represents a $0.61 annualized dividend and a yield of 1.25%. Gildan Activewear’s payout ratio is 32.41%.
Analysts Set New Price Targets
A number of equities research analysts have recently weighed in on GIL shares. Stifel Nicolaus raised their price target on shares of Gildan Activewear from $54.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, November 1st. TD Securities raised their price target on shares of Gildan Activewear from $58.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, December 2nd. Canaccord Genuity Group raised their price target on shares of Gildan Activewear from $52.00 to $53.00 and gave the company a “buy” rating in a research note on Friday, November 1st. CIBC raised their price target on shares of Gildan Activewear from $48.00 to $56.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Finally, BMO Capital Markets raised their price objective on shares of Gildan Activewear from $47.00 to $58.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $51.05.
Get Our Latest Analysis on Gildan Activewear
Gildan Activewear Company Profile
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.
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