Gildan Activewear (NYSE:GIL) Sets New 1-Year High – Here’s What Happened

Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL)’s stock price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $53.29 and last traded at $52.89, with a volume of 20920 shares trading hands. The stock had previously closed at $52.49.

Analyst Ratings Changes

Several equities analysts recently weighed in on GIL shares. Stifel Nicolaus boosted their price objective on Gildan Activewear from $54.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. TD Securities boosted their target price on shares of Gildan Activewear from $58.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, December 2nd. UBS Group raised shares of Gildan Activewear from a “neutral” rating to a “buy” rating and increased their price target for the company from $50.00 to $60.00 in a report on Friday, January 10th. BMO Capital Markets boosted their price objective 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. Finally, Canaccord Genuity Group increased their target price on shares of Gildan Activewear from $52.00 to $53.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Ten investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $53.35.

Gildan Activewear Trading Down 0.4 %

The company has a 50-day simple moving average of $48.88 and a 200-day simple moving average of $46.69. 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 stock has a market cap of $7.97 billion, a P/E ratio of 20.66, a P/E/G ratio of 1.70 and a beta of 1.41.

Institutional Investors Weigh In On Gildan Activewear

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Janus Henderson Group PLC raised its stake in shares of Gildan Activewear by 3.6% during the third quarter. Janus Henderson Group PLC now owns 6,841,572 shares of the textile maker’s stock worth $322,298,000 after buying an additional 240,375 shares during the last quarter. Simcoe Capital Management LLC increased its stake in Gildan Activewear by 10.5% during the 3rd quarter. Simcoe Capital Management LLC now owns 2,387,865 shares of the textile maker’s stock worth $112,492,000 after purchasing an additional 226,695 shares in the last quarter. Vaughan Nelson Investment Management L.P. increased its position in shares of Gildan Activewear by 2.8% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 1,618,420 shares of the textile maker’s stock worth $76,244,000 after acquiring an additional 44,725 shares in the last quarter. CIBC Asset Management Inc raised its stake in shares of Gildan Activewear by 545.1% in the 4th quarter. CIBC Asset Management Inc now owns 1,210,314 shares of the textile maker’s stock valued at $57,403,000 after purchasing an additional 1,022,695 shares during the period. Finally, Intact Investment Management Inc. boosted its position in Gildan Activewear by 12.0% during the 3rd quarter. Intact Investment Management Inc. now owns 987,250 shares of the textile maker’s stock worth $46,473,000 after acquiring an additional 106,150 shares during the last quarter. Institutional investors and hedge funds own 82.83% of the company’s stock.

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.