Arkadios Wealth Advisors Invests $212,000 in Gildan Activewear Inc. (NYSE:GIL)

Arkadios Wealth Advisors purchased a new stake in Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 4,502 shares of the textile maker’s stock, valued at approximately $212,000.

A number of other hedge funds have also bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Gildan Activewear during the 1st quarter worth approximately $692,000. Canada Pension Plan Investment Board increased its stake in Gildan Activewear by 16.1% during the 1st quarter. Canada Pension Plan Investment Board now owns 563,498 shares of the textile maker’s stock worth $20,933,000 after acquiring an additional 78,338 shares during the period. BW Gestao de Investimentos Ltda. bought a new position in Gildan Activewear during the 1st quarter worth $5,570,000. Boston Partners raised its holdings in Gildan Activewear by 217.3% in the 1st quarter. Boston Partners now owns 357,910 shares of the textile maker’s stock valued at $13,281,000 after acquiring an additional 245,119 shares in the last quarter. Finally, Bridges Investment Management Inc. bought a new stake in shares of Gildan Activewear during the 2nd quarter valued at $1,425,000. 82.83% of the stock is owned by institutional investors.

Gildan Activewear Price Performance

Gildan Activewear stock opened at $48.89 on Friday. The stock has a 50-day moving average price of $46.31 and a two-hundred day moving average price of $40.77. Gildan Activewear Inc. has a 12 month low of $27.86 and a 12 month high of $49.64. The company has a market capitalization of $7.68 billion, a PE ratio of 20.04, a P/E/G ratio of 1.78 and a beta of 1.43. The company has a current ratio of 2.35, a quick ratio of 0.97 and a debt-to-equity ratio of 0.55.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued its quarterly earnings data on Thursday, August 1st. The textile maker reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.03. Gildan Activewear had a net margin of 13.01% and a return on equity of 24.96%. The business had revenue of $862.20 million during the quarter, compared to analyst estimates of $851.10 million. During the same quarter last year, the business earned $0.63 EPS. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. Analysts expect that Gildan Activewear Inc. will post 2.93 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently commented on GIL shares. Stifel Nicolaus boosted their price target on Gildan Activewear from $51.00 to $54.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. BMO Capital Markets upped their price target on shares of Gildan Activewear from $43.00 to $47.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. TD Securities lifted their price objective on shares of Gildan Activewear from $50.00 to $56.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Finally, Royal Bank of Canada boosted their price objective on shares of Gildan Activewear from $41.00 to $44.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Gildan Activewear presently has an average rating of “Moderate Buy” and an average price target of $45.68.

About Gildan Activewear

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.