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Stock Traders Purchase Large Volume of Call Options on Gildan Activewear (GIL)

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.