Louisbourg Investments Inc. Acquires 54,287 Shares of Gildan Activewear Inc. (NYSE:GIL)

Louisbourg Investments Inc. increased its holdings in Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 30.2% during the 4th quarter, HoldingsChannel reports. The fund owned 234,146 shares of the textile maker’s stock after acquiring an additional 54,287 shares during the quarter. Gildan Activewear comprises approximately 2.7% of Louisbourg Investments Inc.’s investment portfolio, making the stock its 6th largest holding. Louisbourg Investments Inc.’s holdings in Gildan Activewear were worth $11,014,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of GIL. Riverview Trust Co acquired a new position in shares of Gildan Activewear in the third quarter worth about $29,000. Blue Trust Inc. lifted its stake 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 worth $38,000 after acquiring an additional 397 shares in the last quarter. Fifth Third Bancorp lifted its stake in shares of Gildan Activewear by 61.8% in the fourth quarter. Fifth Third Bancorp now owns 872 shares of the textile maker’s stock worth $41,000 after acquiring an additional 333 shares in the last quarter. CWM LLC lifted its stake in shares of Gildan Activewear by 23.0% in the third quarter. CWM LLC now owns 1,698 shares of the textile maker’s stock worth $80,000 after acquiring an additional 318 shares in the last quarter. Finally, R Squared Ltd acquired a new position in shares of Gildan Activewear in the fourth quarter worth about $165,000. Institutional investors and hedge funds own 82.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. 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. Stifel Nicolaus upped their price objective on Gildan Activewear from $54.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, November 1st. CIBC upped their price objective on Gildan Activewear from $48.00 to $56.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. UBS Group upgraded Gildan Activewear from a “neutral” rating to a “buy” rating and upped their price objective for the company from $50.00 to $60.00 in a research note on Friday, January 10th. Finally, 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 note on Monday, December 2nd. Nine analysts have rated the stock with a buy rating, According to MarketBeat.com, Gildan Activewear presently has an average rating of “Buy” and an average price target of $54.78.

Gildan Activewear Stock Performance

Shares of GIL stock opened at $50.75 on Wednesday. Gildan Activewear Inc. has a 12-month low of $32.23 and a 12-month high of $53.28. The firm has a market capitalization of $7.74 billion, a price-to-earnings ratio of 20.06, a price-to-earnings-growth ratio of 1.71 and a beta of 1.41. The business has a 50 day simple moving average of $48.97 and a 200 day simple moving average of $47.00. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.31 and a quick ratio of 0.98.

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.