Dynamic Technology Lab Private Ltd Makes New Investment in Gildan Activewear Inc. (NYSE:GIL)

Dynamic Technology Lab Private Ltd acquired a new position in shares of Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 9,808 shares of the textile maker’s stock, valued at approximately $462,000.

Several other large investors also recently added to or reduced their stakes in GIL. Riverview Trust Co bought a new position in shares of Gildan Activewear during the third quarter valued at approximately $29,000. Blue Trust Inc. grew its stake in shares of Gildan Activewear by 96.1% during the third quarter. Blue Trust Inc. now owns 810 shares of the textile maker’s stock valued at $38,000 after buying an additional 397 shares during the last quarter. Cullen Frost Bankers Inc. bought a new position in shares of Gildan Activewear during the second quarter valued at approximately $51,000. Tobam bought a new position in shares of Gildan Activewear during the second quarter valued at approximately $53,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Gildan Activewear by 16.9% in the first quarter. EverSource Wealth Advisors LLC now owns 1,893 shares of the textile maker’s stock valued at $66,000 after purchasing an additional 274 shares during the period. 82.83% of the stock is owned by institutional investors.

Gildan Activewear Stock Performance

Shares of GIL opened at $49.62 on Friday. Gildan Activewear Inc. has a 12 month low of $30.68 and a 12 month high of $50.58. The stock has a fifty day moving average price of $48.15 and a 200-day moving average price of $42.92. 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 firm has a market cap of $7.64 billion, a PE ratio of 19.61, a P/E/G ratio of 1.85 and a beta of 1.44.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued 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. Gildan Activewear had a return on equity of 26.88% and a net margin of 13.06%. The firm had revenue of $891.10 million during the quarter, compared to analyst estimates of $882.85 million. During the same quarter in the prior year, the business posted $0.74 EPS. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. Equities 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 announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Thursday, November 21st will be given a $0.152 dividend. This represents a $0.61 annualized dividend and a dividend yield of 1.23%. The ex-dividend date is Thursday, November 21st. Gildan Activewear’s payout ratio is 32.41%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. BMO Capital Markets boosted their price target on Gildan Activewear from $47.00 to $58.00 and gave the company an “outperform” rating in a report on Friday, November 1st. CIBC boosted their price target on Gildan Activewear from $48.00 to $56.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Citigroup boosted their price target on Gildan Activewear from $54.00 to $59.00 and gave the company a “buy” rating in a report on Friday, November 1st. Stifel Nicolaus boosted their price target on Gildan Activewear from $54.00 to $60.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, 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 report on Friday, August 2nd. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Gildan Activewear currently has a consensus rating of “Moderate Buy” and an average target price of $50.85.

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.