Gildan Activewear, Inc. (NYSE:GIL) Shares Bought by Avantax Advisory Services Inc.

Key Points

• Avantax Advisory Services Inc. increased its stake in Gildan Activewear by 114.1% during the 1st quarter, buying an additional 33,045 shares and valuing their holdings at approximately $2.74 million.
• Gildan Activewear has received positive ratings from several analysts, with price targets ranging as high as $70.00 and an average target of $58.00, indicating strong market confidence.
• The company's recent earnings report showed a slight beat of analyst estimates, with $0.59 earnings per share and revenue of $711.70 million, up 2.3% year-over-year.

Avantax Advisory Services Inc. increased its position in shares of Gildan Activewear, Inc. (NYSE:GIL - Free Report) TSE: GIL by 114.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 61,994 shares of the textile maker's stock after purchasing an additional 33,045 shares during the period. Avantax Advisory Services Inc.'s holdings in Gildan Activewear were worth $2,741,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of GIL. Olde Wealth Management LLC acquired a new position in Gildan Activewear in the 1st quarter valued at about $29,000. Versant Capital Management Inc boosted its position in shares of Gildan Activewear by 510.7% during the 1st quarter. Versant Capital Management Inc now owns 745 shares of the textile maker's stock worth $33,000 after acquiring an additional 623 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Gildan Activewear by 4,323.5% during the first quarter. GAMMA Investing LLC now owns 752 shares of the textile maker's stock worth $33,000 after purchasing an additional 735 shares in the last quarter. Blue Trust Inc. increased its position in shares of Gildan Activewear by 69.3% during the first quarter. Blue Trust Inc. now owns 1,336 shares of the textile maker's stock worth $59,000 after purchasing an additional 547 shares in the last quarter. Finally, Natixis boosted its stake in shares of Gildan Activewear by 423.8% during the fourth quarter. Natixis now owns 1,540 shares of the textile maker's stock worth $72,000 after buying an additional 1,246 shares during the period. Institutional investors and hedge funds own 82.83% of the company's stock.

Gildan Activewear Price Performance

NYSE GIL traded up $0.62 during trading hours on Friday, reaching $51.13. The company's stock had a trading volume of 781,511 shares, compared to its average volume of 506,649. The stock has a market cap of $7.66 billion, a PE ratio of 16.23, a PEG ratio of 1.64 and a beta of 1.17. Gildan Activewear, Inc. has a fifty-two week low of $37.16 and a fifty-two week high of $55.39. The company's 50-day moving average is $49.48 and its two-hundred day moving average is $48.25. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.59 and a current ratio of 3.91.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last issued its quarterly earnings data on Thursday, July 31st. The textile maker reported $0.97 EPS for the quarter, beating analysts' consensus estimates of $0.96 by $0.01. The firm had revenue of $918.50 million for the quarter, compared to analysts' expectations of $908.41 million. Gildan Activewear had a net margin of 14.55% and a return on equity of 34.00%. The firm's revenue was up 6.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.74 EPS. Analysts forecast that Gildan Activewear, Inc. will post 3.48 EPS for the current year.

Gildan Activewear Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Thursday, August 21st will be issued a $0.226 dividend. The ex-dividend date is Thursday, August 21st. This represents a $0.90 annualized dividend and a yield of 1.8%. Gildan Activewear's payout ratio is 28.57%.

Analyst Ratings Changes

Several brokerages have recently weighed in on GIL. TD Securities increased their target price on shares of Gildan Activewear from $56.00 to $60.00 and gave the stock a "buy" rating in a research note on Wednesday, April 30th. National Bankshares boosted their price target on shares of Gildan Activewear from $78.00 to $80.00 and gave the stock an "outperform" rating in a research note on Friday. CIBC boosted their price target on shares of Gildan Activewear from $56.00 to $60.00 and gave the stock an "outperformer" rating in a research note on Friday. Barclays boosted their price target on shares of Gildan Activewear from $51.00 to $56.00 and gave the stock an "overweight" rating in a research note on Friday. Finally, UBS Group boosted their price target on shares of Gildan Activewear from $56.00 to $70.00 and gave the stock a "buy" rating in a research note on Tuesday, July 29th. Ten investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $62.45.

Gildan Activewear 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.