Atria Investments Inc Acquires Shares of 8,293 Gildan Activewear Inc. (NYSE:GIL)

Atria Investments Inc purchased a new position in Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 8,293 shares of the textile maker’s stock, valued at approximately $391,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Riverview Trust Co bought a new stake in Gildan Activewear in the third quarter worth $29,000. Blue Trust Inc. boosted its stake in Gildan Activewear by 96.1% in the 3rd quarter. Blue Trust Inc. now owns 810 shares of the textile maker’s stock worth $38,000 after purchasing an additional 397 shares in the last quarter. Natixis acquired a new stake in Gildan Activewear in the 1st quarter worth approximately $51,000. Cullen Frost Bankers Inc. acquired a new stake in Gildan Activewear in the 2nd quarter worth approximately $51,000. Finally, Tobam acquired a new stake in Gildan Activewear during the 2nd quarter valued at approximately $53,000. Hedge funds and other institutional investors own 82.83% of the company’s stock.

Wall Street Analyst Weigh In

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

Gildan Activewear Trading Up 1.4 %

Shares of GIL stock opened at $49.48 on Friday. The company’s 50-day moving average price is $47.58 and its 200-day moving average price is $42.18. The company has a current ratio of 2.31, a quick ratio of 0.98 and a debt-to-equity ratio of 0.81. The stock has a market cap of $7.62 billion, a price-to-earnings ratio of 19.56, a PEG ratio of 1.83 and a beta of 1.44. Gildan Activewear Inc. has a twelve month low of $30.68 and a twelve month high of $50.58.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its earnings results on Thursday, October 31st. The textile maker reported $0.85 EPS for the quarter, meeting 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 analysts’ expectations of $882.85 million. During the same quarter in the prior year, the company posted $0.74 earnings per share. Gildan Activewear’s revenue for the quarter was up 2.4% compared to the same quarter last year. As a group, equities analysts predict that Gildan Activewear Inc. will post 2.97 earnings per share for the current year.

Gildan Activewear Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Thursday, November 21st will be given a $0.152 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $0.61 dividend on an annualized basis and a yield of 1.23%. 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.