R Squared Ltd Invests $165,000 in Gildan Activewear Inc. (NYSE:GIL)

R Squared Ltd bought a new stake in Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,500 shares of the textile maker’s stock, valued at approximately $165,000.

Several other hedge funds also recently modified their holdings of the stock. Riverview Trust Co bought a new position in Gildan Activewear during the 3rd quarter valued at $29,000. Blue Trust Inc. raised its holdings in shares of Gildan Activewear by 96.1% in the third quarter. Blue Trust Inc. now owns 810 shares of the textile maker’s stock valued at $38,000 after purchasing an additional 397 shares during the last quarter. Fifth Third Bancorp lifted its position in shares of Gildan Activewear by 61.8% during the fourth quarter. Fifth Third Bancorp now owns 872 shares of the textile maker’s stock valued at $41,000 after purchasing an additional 333 shares in the last quarter. CWM LLC boosted its holdings in Gildan Activewear by 23.0% during the third quarter. CWM LLC now owns 1,698 shares of the textile maker’s stock worth $80,000 after purchasing an additional 318 shares during the last quarter. Finally, Laurus Investment Counsel Inc. bought a new stake in Gildan Activewear in the 3rd quarter worth about $203,000. Hedge funds and other institutional investors own 82.83% of the company’s stock.

Gildan Activewear Price Performance

GIL opened at $51.69 on Thursday. The firm has a 50-day moving average price of $48.62 and a 200-day moving average price of $46.22. Gildan Activewear Inc. has a twelve month low of $32.23 and a twelve month high of $52.20. The company has a quick ratio of 0.98, a current ratio of 2.31 and a debt-to-equity ratio of 0.81. The company has a market capitalization of $7.88 billion, a price-to-earnings ratio of 20.43, a PEG ratio of 1.67 and a beta of 1.41.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last released its quarterly earnings data on Thursday, October 31st. The textile maker reported $0.85 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.85. Gildan Activewear had a net margin of 13.06% and a return on equity of 26.88%. The business had revenue of $891.10 million during the quarter, compared to analyst estimates of $882.85 million. During the same period in the previous year, the business earned $0.74 EPS. Gildan Activewear’s revenue was up 2.4% compared to the same quarter last year. Equities analysts expect that Gildan Activewear Inc. will post 2.97 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on GIL shares. TD Securities boosted their target price on Gildan Activewear from $58.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday, December 2nd. Canaccord Genuity Group upped their price objective on Gildan Activewear from $52.00 to $53.00 and gave the company a “buy” rating in a research note on Friday, November 1st. CIBC lifted their target price on Gildan Activewear from $48.00 to $56.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. UBS Group upgraded shares of Gildan Activewear from a “neutral” rating to a “buy” rating and increased their price target for the company from $50.00 to $60.00 in a research report on Friday, January 10th. Finally, Citigroup lifted their price objective on shares of Gildan Activewear from $54.00 to $59.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Ten investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $53.35.

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.