5,368 Shares in Gildan Activewear Inc. (NYSE:GIL) Bought by Townsquare Capital LLC

Townsquare Capital LLC acquired a new position in Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) during the 3rd quarter, HoldingsChannel reports. The fund acquired 5,368 shares of the textile maker’s stock, valued at approximately $253,000.

Several other institutional investors also recently modified their holdings of GIL. Tidal Investments LLC bought a new stake in shares of Gildan Activewear in the first quarter worth $397,000. Cooper Financial Group boosted its position in Gildan Activewear by 7.6% during the second quarter. Cooper Financial Group now owns 22,422 shares of the textile maker’s stock valued at $850,000 after acquiring an additional 1,592 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its position in Gildan Activewear by 9.9% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 27,857 shares of the textile maker’s stock valued at $1,056,000 after acquiring an additional 2,512 shares during the last quarter. ARS Investment Partners LLC boosted its position in Gildan Activewear by 34.5% during the second quarter. ARS Investment Partners LLC now owns 141,439 shares of the textile maker’s stock valued at $5,363,000 after acquiring an additional 36,304 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in Gildan Activewear by 11.7% during the second quarter. Assenagon Asset Management S.A. now owns 7,156 shares of the textile maker’s stock valued at $271,000 after acquiring an additional 747 shares during the last quarter. Institutional investors own 82.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on GIL shares. Canaccord Genuity Group upped their price target on shares of Gildan Activewear from $52.00 to $53.00 and gave the company a “buy” rating in a research report on Friday, November 1st. CIBC upped their price target on shares of Gildan Activewear from $48.00 to $56.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Stifel Nicolaus upped their price objective on shares of Gildan Activewear from $54.00 to $60.00 and gave the company a “buy” rating in a report on Friday, November 1st. Citigroup upped their price objective on shares of Gildan Activewear from $54.00 to $59.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, TD Securities upped their price objective on shares of Gildan Activewear from $58.00 to $60.00 and gave the company a “buy” rating in a report on Monday, December 2nd. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.05.

Gildan Activewear Trading Down 1.8 %

GIL opened at $48.25 on Friday. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.31 and a quick ratio of 0.98. The firm has a market capitalization of $7.43 billion, a PE ratio of 19.07, a P/E/G ratio of 1.87 and a beta of 1.40. Gildan Activewear Inc. has a fifty-two week low of $30.68 and a fifty-two week high of $50.60. The company’s 50-day moving average is $48.39 and its 200 day moving average is $43.41.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted 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 during the quarter, compared to analyst estimates 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 for the quarter was up 2.4% on a year-over-year basis. During the same quarter last year, the business posted $0.74 EPS. As a group, research analysts predict that Gildan Activewear Inc. will post 2.97 earnings per share for the current fiscal year.

Gildan Activewear Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Thursday, November 21st will be paid a $0.152 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $0.61 annualized dividend and a yield of 1.26%. Gildan Activewear’s dividend payout ratio (DPR) is 32.41%.

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.