Forsta AP Fonden Buys Shares of 34,300 Gildan Activewear Inc. (NYSE:GIL)

Forsta AP Fonden acquired a new position in Gildan Activewear Inc. (NYSE:GIL - Free Report) TSE: GIL during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 34,300 shares of the textile maker's stock, valued at approximately $1,613,000.

Other institutional investors have also recently made changes to their positions in the company. Riverview Trust Co purchased a new stake in Gildan Activewear in the 3rd quarter worth approximately $29,000. Blue Trust Inc. lifted its stake in shares of Gildan Activewear by 96.1% in the 3rd quarter. Blue Trust Inc. now owns 810 shares of the textile maker's stock valued at $38,000 after purchasing an additional 397 shares during the period. Fifth Third Bancorp boosted its holdings in Gildan Activewear by 61.8% during the fourth quarter. Fifth Third Bancorp now owns 872 shares of the textile maker's stock worth $41,000 after buying an additional 333 shares in the last quarter. CWM LLC grew its position in Gildan Activewear by 23.0% during the third quarter. CWM LLC now owns 1,698 shares of the textile maker's stock valued at $80,000 after buying an additional 318 shares during the period. Finally, R Squared Ltd purchased a new position in Gildan Activewear in the fourth quarter valued at $165,000. Hedge funds and other institutional investors own 82.83% of the company's stock.

Analyst Ratings Changes

Several research firms have recently issued reports on GIL. UBS Group raised shares of Gildan Activewear from a "neutral" rating to a "buy" rating and increased their target price for the stock from $50.00 to $60.00 in a research note on Friday, January 10th. CIBC increased their price target on Gildan Activewear from $48.00 to $56.00 and gave the stock an "outperform" rating in a research report on Friday, November 1st. Citigroup boosted their price objective on Gildan Activewear from $54.00 to $59.00 and gave the company a "buy" rating in a research report 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 company an "outperform" rating in a research note on Friday, November 1st. Finally, Stifel Nicolaus upped their price objective on shares of Gildan Activewear from $54.00 to $60.00 and gave the stock a "buy" rating in a research report on Friday, November 1st. Ten analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $53.35.

Gildan Activewear Price Performance

Shares of Gildan Activewear stock traded down $0.53 during trading hours on Thursday, reaching $51.96. 561,456 shares of the company's stock were exchanged, compared to its average volume of 489,498. The business has a fifty day moving average of $48.88 and a two-hundred day moving average of $46.69. The company has a quick ratio of 0.98, a current ratio of 2.31 and a debt-to-equity ratio of 0.81. The company has a market capitalization of $7.92 billion, a P/E ratio of 20.54, a price-to-earnings-growth ratio of 1.70 and a beta of 1.41. Gildan Activewear Inc. has a 1 year low of $32.23 and a 1 year high of $53.29.

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.