Stock Traders Purchase Large Volume of Call Options on Gildan Activewear (GIL) Posted by Stephan Byrd on Apr 20th, 2019 Tweet
Gildan Activewear Inc (NYSE:GIL) (TSE:GIL) saw some unusual options trading on Thursday. Traders purchased 1,172 call options on the stock. This represents an increase of approximately 1,821% compared to the typical daily volume of 61 call options.
Several equities analysts have issued reports on the company. Zacks Investment Research lowered Gildan Activewear from a “hold” rating to a “sell” rating in a research note on Wednesday, February 20th. Raymond James reiterated a “strong-buy” rating and issued a $40.00 target price on shares of Gildan Activewear in a research note on Thursday, March 28th. ValuEngine upgraded Gildan Activewear from a “hold” rating to a “buy” rating in a research note on Saturday, February 23rd. Royal Bank of Canada cut their target price on Gildan Activewear from $34.00 to $33.00 and set a “sector perform” rating on the stock in a research note on Wednesday, March 27th. Finally, TD Securities lifted their target price on Gildan Activewear from $36.00 to $38.00 and gave the company a “buy” rating in a research note on Tuesday, February 19th. One research analyst has rated the stock with a sell rating, five have given a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $34.00. Get Gildan Activewear alerts:
Several hedge funds have recently modified their holdings of GIL. Karp Capital Management Corp purchased a new stake in shares of Gildan Activewear during the fourth quarter worth about $34,000. Enlightenment Research LLC purchased a new stake in shares of Gildan Activewear during the fourth quarter worth about $39,000. Rehmann Capital Advisory Group purchased a new stake in shares of Gildan Activewear during the fourth quarter worth about $45,000. Quadrant Capital Group LLC grew its stake in shares of Gildan Activewear by 916.3% during the fourth quarter. Quadrant Capital Group LLC now owns 4,116 shares of the textile maker’s stock worth $122,000 after acquiring an additional 3,711 shares during the last quarter. Finally, Intact Investment Management Inc. purchased a new stake in shares of Gildan Activewear during the fourth quarter worth about $202,000. Institutional investors and hedge funds own 70.18% of the company’s stock. GIL opened at $37.19 on Friday. Gildan Activewear has a 1 year low of $25.33 and a 1 year high of $37.27. The stock has a market capitalization of $7.67 billion, a price-to-earnings ratio of 19.99, a P/E/G ratio of 1.58 and a beta of 0.88. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.28 and a current ratio of 3.99.
Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued its quarterly earnings results on Thursday, February 21st. The textile maker reported $0.43 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.44 by ($0.01). Gildan Activewear had a return on equity of 20.16% and a net margin of 12.06%. The business had revenue of $743.00 million for the quarter, compared to analysts’ expectations of $718.48 million. During the same quarter in the previous year, the firm posted $0.31 EPS. Gildan Activewear’s revenue was up 13.6% on a year-over-year basis. Sell-side analysts predict that Gildan Activewear will post 1.99 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Thursday, March 7th were paid a dividend of $0.134 per share. This is a positive change from Gildan Activewear’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Wednesday, March 6th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 1.44%. Gildan Activewear’s payout ratio is presently 29.03%.
Gildan Activewear Company Profile
Gildan Activewear Inc manufactures and sells a range of apparel products in North America, Europe, the Asia-Pacific, and Latin America. The company manufactures and markets active wear products, including T-shirts, fleece tops and bottoms, and sport shirts under Gildan, Gildan Performance, Gildan Platinum, Gildan Hammer, Comfort Colors, American Apparel, Anvil, Alstyle, and Gold Toe brands.