Galibier Capital Management Ltd. acquired a new position in Gildan Activewear Inc (NYSE:GIL) (TSE:GIL) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 456,757 shares of the textile maker’s stock, valued at approximately $13,522,000. Gildan Activewear accounts for approximately 4.3% of Galibier Capital Management Ltd.’s investment portfolio, making the stock its 10th biggest position. Galibier Capital Management Ltd. owned 0.23% of Gildan Activewear as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of GIL. Amundi Pioneer Asset Management Inc. raised its position in Gildan Activewear by 16.7% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 84,910 shares of the textile maker’s stock worth $3,055,000 after purchasing an additional 12,174 shares during the period. LPL Financial LLC raised its position in Gildan Activewear by 29.3% in the 2nd quarter. LPL Financial LLC now owns 9,441 shares of the textile maker’s stock worth $365,000 after purchasing an additional 2,139 shares during the period. Renaissance Technologies LLC raised its position in Gildan Activewear by 15.7% in the 2nd quarter. Renaissance Technologies LLC now owns 220,600 shares of the textile maker’s stock worth $8,546,000 after purchasing an additional 30,000 shares during the period. Commonwealth Bank of Australia raised its position in Gildan Activewear by 28.1% in the 2nd quarter. Commonwealth Bank of Australia now owns 2,595 shares of the textile maker’s stock worth $99,000 after purchasing an additional 569 shares during the period. Finally, Glen Harbor Capital Management LLC raised its position in Gildan Activewear by 11.4% in the 2nd quarter. Glen Harbor Capital Management LLC now owns 5,148 shares of the textile maker’s stock worth $191,000 after purchasing an additional 528 shares during the period. 68.33% of the stock is currently owned by institutional investors.
A number of research firms recently weighed in on GIL. Edward Jones lowered shares of Gildan Activewear from a “buy” rating to a “hold” rating in a research report on Monday, October 21st. Desjardins raised shares of Gildan Activewear from a “hold” rating to a “buy” rating and set a $42.00 price objective on the stock in a research report on Friday, November 29th. BMO Capital Markets reduced their price objective on shares of Gildan Activewear from $41.00 to $31.00 and set a “market perform” rating on the stock in a research report on Friday, October 18th. CIBC set a $30.00 target price on shares of Gildan Activewear and gave the stock a “hold” rating in a research report on Thursday, October 17th. Finally, Bank of America lowered shares of Gildan Activewear from a “buy” rating to an “underperform” rating and set a $23.00 target price on the stock. in a research report on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Gildan Activewear currently has an average rating of “Hold” and an average price target of $31.40.
Shares of NYSE:GIL traded up $0.58 during trading on Tuesday, reaching $29.28. 107,388 shares of the company were exchanged, compared to its average volume of 539,809. The firm has a market capitalization of $5.64 billion, a PE ratio of 15.74, a P/E/G ratio of 1.68 and a beta of 0.83. The business’s fifty day simple moving average is $29.10 and its 200-day simple moving average is $33.25. Gildan Activewear Inc has a 12-month low of $23.45 and a 12-month high of $40.40. The company has a debt-to-equity ratio of 0.50, a current ratio of 4.18 and a quick ratio of 1.61.
Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued its earnings results on Thursday, October 31st. The textile maker reported $0.53 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.53. The business had revenue of $739.70 million for the quarter, compared to analyst estimates of $739.86 million. Gildan Activewear had a net margin of 9.87% and a return on equity of 17.94%. The company’s quarterly revenue was down 1.9% compared to the same quarter last year. During the same period last year, the company posted $0.57 earnings per share. On average, sell-side analysts anticipate that Gildan Activewear Inc will post 1.66 EPS for the current fiscal year.
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.
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