Aigen Investment Management LP Takes Position in Gildan Activewear Inc. (NYSE:GIL)

Aigen Investment Management LP bought a new position in shares of Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) during the 3rd quarter, HoldingsChannel reports. The firm bought 6,846 shares of the textile maker’s stock, valued at approximately $323,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Tacita Capital Inc increased its holdings in shares of Gildan Activewear by 1,025.5% during the third quarter. Tacita Capital Inc now owns 13,056 shares of the textile maker’s stock valued at $615,000 after acquiring an additional 11,896 shares in the last quarter. Atria Investments Inc purchased a new stake in shares of Gildan Activewear during the third quarter valued at $391,000. Verdence Capital Advisors LLC grew its holdings in shares of Gildan Activewear by 6.7% during the third quarter. Verdence Capital Advisors LLC now owns 16,097 shares of the textile maker’s stock valued at $758,000 after buying an additional 1,004 shares during the last quarter. Fiera Capital Corp grew its holdings in shares of Gildan Activewear by 5.3% during the third quarter. Fiera Capital Corp now owns 255,734 shares of the textile maker’s stock valued at $12,053,000 after buying an additional 12,933 shares during the last quarter. Finally, Intact Investment Management Inc. increased its position in shares of Gildan Activewear by 12.0% in the 3rd quarter. Intact Investment Management Inc. now owns 987,250 shares of the textile maker’s stock valued at $46,473,000 after acquiring an additional 106,150 shares during the period. 82.83% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have weighed in on GIL. Royal Bank of Canada boosted their price target on Gildan Activewear from $41.00 to $44.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. BMO Capital Markets increased their price target on shares of Gildan Activewear from $47.00 to $58.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. TD Securities raised their price target on shares of Gildan Activewear from $56.00 to $58.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. CIBC upped their price objective on shares of Gildan Activewear from $48.00 to $56.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Finally, Stifel Nicolaus boosted their target price 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. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.85.

Gildan Activewear Trading Up 0.3 %

GIL stock opened at $48.29 on Friday. Gildan Activewear Inc. has a 52-week low of $30.68 and a 52-week high of $50.58. 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 firm has a market cap of $7.44 billion, a P/E ratio of 18.97, a PEG ratio of 1.81 and a beta of 1.44. The company’s 50-day simple moving average is $47.22 and its 200-day simple moving average is $41.73.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued its quarterly 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. The company had revenue of $891.10 million for the quarter, compared to the consensus estimate of $882.85 million. Gildan Activewear had a return on equity of 26.88% and a net margin of 13.06%. Gildan Activewear’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.74 earnings per share. As a group, equities analysts forecast that Gildan Activewear Inc. will post 2.97 EPS for the current fiscal year.

Gildan Activewear Cuts Dividend

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

Gildan Activewear Company 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.