Gildan Activewear Inc. (NYSE:GIL) Shares Purchased by CIBC Asset Management Inc

CIBC Asset Management Inc increased its holdings in shares of Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) by 545.1% during the fourth quarter, HoldingsChannel reports. The fund owned 1,210,314 shares of the textile maker’s stock after buying an additional 1,022,695 shares during the period. CIBC Asset Management Inc’s holdings in Gildan Activewear were worth $57,403,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GIL. Lord Abbett & CO. LLC acquired a new stake in Gildan Activewear in the third quarter valued at $24,262,000. Janus Henderson Group PLC grew its holdings in Gildan Activewear by 3.6% in the third quarter. Janus Henderson Group PLC now owns 6,841,572 shares of the textile maker’s stock valued at $322,298,000 after purchasing an additional 240,375 shares during the last quarter. Simcoe Capital Management LLC grew its holdings in Gildan Activewear by 10.5% in the third quarter. Simcoe Capital Management LLC now owns 2,387,865 shares of the textile maker’s stock valued at $112,492,000 after purchasing an additional 226,695 shares during the last quarter. Natixis Advisors LLC grew its holdings in Gildan Activewear by 59.0% in the third quarter. Natixis Advisors LLC now owns 523,035 shares of the textile maker’s stock valued at $24,640,000 after purchasing an additional 194,128 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Gildan Activewear by 7,709.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 125,181 shares of the textile maker’s stock valued at $5,899,000 after acquiring an additional 123,578 shares during the last quarter. Institutional investors and hedge funds own 82.83% of the company’s stock.

Gildan Activewear Trading Down 0.2 %

NYSE GIL opened at $50.95 on Monday. Gildan Activewear Inc. has a one year low of $32.23 and a one year high of $53.28. The company has a 50-day simple moving average of $49.10 and a 200-day simple moving average of $47.30. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.98 and a current ratio of 2.31. The firm has a market capitalization of $7.77 billion, a PE ratio of 20.14, a price-to-earnings-growth ratio of 1.71 and a beta of 1.41.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on GIL shares. UBS Group upgraded shares of Gildan Activewear from a “neutral” rating to a “buy” rating and lifted their price target for the company from $50.00 to $60.00 in a report on Friday, January 10th. TD Securities lifted their price target on shares of Gildan Activewear from $58.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday, December 2nd. CIBC lifted their price target on shares of Gildan Activewear from $48.00 to $56.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. BMO Capital Markets lifted their price target on shares of Gildan Activewear from $47.00 to $58.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Finally, Stifel Nicolaus lifted their price target on shares of Gildan Activewear from $54.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat, Gildan Activewear presently has a consensus rating of “Buy” and an average price target of $54.78.

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.