Forsta AP Fonden Invests $1.61 Million in Gildan Activewear Inc. (NYSE:GIL)

Forsta AP Fonden purchased a new position in Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 34,300 shares of the textile maker’s stock, valued at approximately $1,613,000.

Other institutional investors also recently bought and sold shares of the company. Riverview Trust Co bought a new position in shares of Gildan Activewear during the third quarter valued at $29,000. Blue Trust Inc. raised its position in Gildan Activewear by 96.1% in the 3rd quarter. Blue Trust Inc. now owns 810 shares of the textile maker’s stock worth $38,000 after buying an additional 397 shares during the last quarter. Fifth Third Bancorp lifted its stake in Gildan Activewear by 61.8% during the 4th quarter. Fifth Third Bancorp now owns 872 shares of the textile maker’s stock valued at $41,000 after acquiring an additional 333 shares during the period. CWM LLC boosted its holdings in shares of Gildan Activewear by 23.0% during the 3rd quarter. CWM LLC now owns 1,698 shares of the textile maker’s stock valued at $80,000 after acquiring an additional 318 shares during the last quarter. Finally, R Squared Ltd bought a new stake in shares of Gildan Activewear in the fourth quarter worth approximately $165,000. 82.83% of the stock is owned by hedge funds and other institutional investors.

Gildan Activewear Price Performance

NYSE GIL opened at $51.65 on Monday. The company has a current ratio of 2.31, a quick ratio of 0.98 and a debt-to-equity ratio of 0.81. Gildan Activewear Inc. has a 12 month low of $32.23 and a 12 month high of $52.87. The stock has a market cap of $7.88 billion, a price-to-earnings ratio of 20.42, a PEG ratio of 1.70 and a beta of 1.41. The company’s 50 day moving average is $48.76 and its two-hundred day moving average is $46.43.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last announced its quarterly earnings data on Thursday, October 31st. The textile maker reported $0.85 EPS for the quarter, meeting the consensus estimate of $0.85. The firm had revenue of $891.10 million for the quarter, compared to the consensus estimate of $882.85 million. Gildan Activewear had a net margin of 13.06% and a return on equity of 26.88%. The company’s revenue was up 2.4% on a year-over-year basis. During the same period last year, the firm earned $0.74 EPS. As a group, research analysts anticipate that Gildan Activewear Inc. will post 2.97 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on GIL shares. Citigroup increased their price objective on shares of Gildan Activewear from $54.00 to $59.00 and gave the company a “buy” rating in a research report on Friday, November 1st. CIBC raised their price target on Gildan Activewear from $48.00 to $56.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. TD Securities upped their price objective on Gildan Activewear from $58.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. BMO Capital Markets raised their target price on Gildan Activewear from $47.00 to $58.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, Stifel Nicolaus upped their price target on shares of Gildan Activewear from $54.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Ten equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Gildan Activewear has an average rating of “Buy” and a consensus target price 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.