Dynamic Technology Lab Private Ltd Makes New $462,000 Investment in Gildan Activewear Inc. (NYSE:GIL)

Dynamic Technology Lab Private Ltd purchased a new position in shares of Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) during the 3rd quarter, Holdings Channel.com reports. The fund purchased 9,808 shares of the textile maker’s stock, valued at approximately $462,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GIL. Riverview Trust Co acquired a new stake in Gildan Activewear during the 3rd quarter worth about $29,000. Blue Trust Inc. grew its position in Gildan Activewear by 96.1% during 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 during the period. Cullen Frost Bankers Inc. acquired a new stake in Gildan Activewear during the 2nd quarter worth about $51,000. Tobam acquired a new stake in Gildan Activewear during the 2nd quarter worth about $53,000. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Gildan Activewear by 16.9% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,893 shares of the textile maker’s stock worth $66,000 after acquiring an additional 274 shares in the last quarter. 82.83% of the stock is owned by institutional investors and hedge funds.

Gildan Activewear Trading Up 0.1 %

GIL opened at $49.62 on Friday. The firm has a market capitalization of $7.64 billion, a price-to-earnings ratio of 19.61, a price-to-earnings-growth ratio of 1.85 and a beta of 1.44. The company’s 50 day simple moving average is $48.15 and its two-hundred day simple moving average is $42.92. Gildan Activewear Inc. has a 1-year low of $30.68 and a 1-year high of $50.58. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.31 and a quick ratio of 0.98.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued its earnings results on Thursday, October 31st. The textile maker reported $0.85 earnings per share (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 company had revenue of $891.10 million during the quarter, compared to analysts’ expectations of $882.85 million. During the same period in the prior year, the business earned $0.74 EPS. The firm’s quarterly revenue was up 2.4% on a year-over-year basis. Analysts expect that Gildan Activewear Inc. will post 2.97 EPS for the current fiscal year.

Gildan Activewear Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Thursday, November 21st will be given a dividend of $0.152 per share. 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 presently 32.41%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on GIL shares. CIBC increased their target price 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. Citigroup increased their target price on shares of Gildan Activewear from $54.00 to $59.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Canaccord Genuity Group increased their target price on shares of Gildan Activewear from $52.00 to $53.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Stifel Nicolaus increased their target price 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. Finally, Royal Bank of Canada increased their target price on shares of Gildan Activewear from $41.00 to $44.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $50.85.

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.