HighTower Advisors LLC Makes New $457,000 Investment in Gildan Activewear Inc. (NYSE:GIL)

HighTower Advisors LLC purchased a new position in shares of Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) in the third quarter, Holdings Channel.com reports. The firm purchased 9,740 shares of the textile maker’s stock, valued at approximately $457,000.

Several other institutional investors have also made changes to their positions in GIL. Riverview Trust Co acquired a new position in Gildan Activewear in the third quarter worth approximately $29,000. Blue Trust Inc. grew its position in Gildan Activewear by 96.1% in the third quarter. Blue Trust Inc. now owns 810 shares of the textile maker’s stock worth $38,000 after acquiring an additional 397 shares in the last quarter. Cullen Frost Bankers Inc. acquired a new position in shares of Gildan Activewear during the 2nd quarter worth $51,000. Tobam bought a new position in shares of Gildan Activewear during the 2nd quarter valued at $53,000. Finally, CWM LLC raised 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 purchasing an additional 318 shares in the last quarter. 82.83% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently issued reports on GIL. Citigroup upped their price objective on shares of Gildan Activewear from $54.00 to $59.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Canaccord Genuity Group upped their price target on Gildan Activewear from $52.00 to $53.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. BMO Capital Markets raised their price objective on Gildan Activewear from $47.00 to $58.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. CIBC boosted their target price on Gildan Activewear from $48.00 to $56.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Finally, Stifel Nicolaus increased their price target on Gildan Activewear from $54.00 to $60.00 and gave the company a “buy” rating in a report on Friday, November 1st. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $51.05.

Gildan Activewear Stock Up 0.0 %

Shares of NYSE GIL opened at $46.78 on Friday. Gildan Activewear Inc. has a 12-month low of $30.68 and a 12-month high of $50.60. The firm’s 50-day simple moving average is $48.59 and its 200 day simple moving average is $44.23. 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 cap of $7.15 billion, a price-to-earnings ratio of 18.49, a price-to-earnings-growth ratio of 1.82 and a beta of 1.40.

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

Gildan Activewear Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Thursday, November 21st were given a dividend of $0.152 per share. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $0.61 dividend on an annualized basis and a dividend yield of 1.30%. Gildan Activewear’s payout ratio is currently 32.41%.

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.