Gildan Activewear (GIL) is a Great Momentum Stock: Should You Buy?

Group 1: Momentum Investing Overview - Momentum investing involves following a stock's recent trend, with the aim of buying high and selling higher, capitalizing on established price movements [1] - The Zacks Momentum Style Score helps investors identify effective metrics for momentum, addressing the challenges in defining momentum [2] Group 2: Gildan Activewear (GIL) Performance - Gildan Activewear currently holds a Momentum Style Score of B and a Zacks Rank of 2 (Buy), indicating strong potential for performance [3][4] - Over the past week, GIL shares increased by 0.26%, while the Zacks Textile - Apparel industry declined by 1.1% [6] - In the last month, GIL's price rose by 5.91%, outperforming the industry's 0.73% [6] - GIL shares have risen by 21% over the past quarter and 62.88% over the last year, significantly outperforming the S&P 500's gains of 4.49% and 34.55%, respectively [7] Group 3: Trading Volume and Earnings Outlook - GIL's average 20-day trading volume is 488,660 shares, which serves as a bullish indicator when combined with rising stock prices [8] - Recent earnings estimate revisions show one upward revision for the current fiscal year, increasing the consensus estimate from $2.92 to$2.93 [10] - For the next fiscal year, one estimate has also moved upwards, with no downward revisions noted [10]