Louisbourg Investments Inc. Increases Stake in Gildan Activewear Inc. (NYSE:GIL)

Louisbourg Investments Inc. grew its stake in shares of Gildan Activewear Inc. (NYSE:GIL - Free Report) TSE: GIL by 30.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 234,146 shares of the textile maker's stock after acquiring an additional 54,287 shares during the quarter. Gildan Activewear comprises about 2.7% of Louisbourg Investments Inc.'s investment portfolio, making the stock its 6th biggest holding. Louisbourg Investments Inc. owned 0.15% of Gildan Activewear worth $11,014,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in GIL. Lord Abbett & CO. LLC purchased a new position in shares of Gildan Activewear in the third quarter worth approximately $24,262,000. Janus Henderson Group PLC boosted its holdings in shares of 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 worth $322,298,000 after buying an additional 240,375 shares during the last quarter. Simcoe Capital Management LLC boosted its holdings in shares of 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 worth $112,492,000 after buying an additional 226,695 shares during the last quarter. Natixis Advisors LLC boosted its holdings in shares of Gildan Activewear by 59.0% in the third quarter. Natixis Advisors LLC now owns 523,035 shares of the textile maker's stock worth $24,640,000 after buying an additional 194,128 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of Gildan Activewear by 7,709.2% in the third quarter. Allspring Global Investments Holdings LLC now owns 125,181 shares of the textile maker's stock worth $5,899,000 after buying an additional 123,578 shares during the last quarter. Hedge funds and other institutional investors own 82.83% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on GIL. TD Securities raised their price objective on shares of Gildan Activewear from $58.00 to $60.00 and gave the stock a "buy" rating in a report on Monday, December 2nd. 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 report on Friday, November 1st. Stifel Nicolaus lifted their price target on shares of Gildan Activewear from $54.00 to $60.00 and gave the company a "buy" rating in a report on Friday, November 1st. UBS Group raised 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. Finally, CIBC lifted their price target on shares of Gildan Activewear from $48.00 to $56.00 and gave the company an "outperform" rating in a report on Friday, November 1st. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $54.78.

Gildan Activewear Price Performance

Shares of Gildan Activewear stock traded down $0.11 on Friday, hitting $50.95. 445,180 shares of the company traded hands, compared to its average volume of 500,609. The stock has a market capitalization of $7.77 billion, a P/E ratio of 20.14, a price-to-earnings-growth ratio of 1.71 and a beta of 1.41. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.98 and a current ratio of 2.31. Gildan Activewear Inc. has a 52 week low of $32.23 and a 52 week high of $53.28. The business has a 50-day simple moving average of $49.05 and a 200 day simple moving average of $47.13.

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.