Meritage Portfolio Management Takes $462,000 Position in Gildan Activewear Inc. (NYSE:GIL)

Meritage Portfolio Management purchased a new stake in Gildan Activewear Inc. (NYSE:GIL - Free Report) TSE: GIL in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 9,820 shares of the textile maker's stock, valued at approximately $462,000.

Other institutional investors have also added to or reduced their stakes in the company. Fortis Group Advisors LLC lifted its position in shares of Gildan Activewear by 3.9% during the 3rd quarter. Fortis Group Advisors LLC now owns 6,601 shares of the textile maker's stock valued at $311,000 after acquiring an additional 246 shares during the period. CWM LLC lifted its stake in Gildan Activewear by 23.0% during the third quarter. CWM LLC now owns 1,698 shares of the textile maker's stock worth $80,000 after purchasing an additional 318 shares during the last quarter. Fifth Third Bancorp boosted its holdings in shares of Gildan Activewear by 61.8% in the 4th quarter. Fifth Third Bancorp now owns 872 shares of the textile maker's stock valued at $41,000 after purchasing an additional 333 shares in the last quarter. Cooper Financial Group increased its stake in shares of Gildan Activewear by 2.1% in the 4th quarter. Cooper Financial Group now owns 16,268 shares of the textile maker's stock valued at $765,000 after purchasing an additional 340 shares during the last quarter. Finally, Blue Trust Inc. lifted its position in shares of 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 buying an additional 397 shares during the last quarter. 82.83% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

GIL has been the subject of several research analyst reports. TD Securities boosted their target price on Gildan Activewear from $58.00 to $60.00 and gave the stock a "buy" rating in a research note on Monday, December 2nd. BMO Capital Markets increased their price objective 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. UBS Group raised shares of Gildan Activewear from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $50.00 to $60.00 in a research note on Friday, January 10th. Canaccord Genuity Group raised their price objective on Gildan Activewear from $52.00 to $53.00 and gave the company a "buy" rating in a report on Friday, November 1st. Finally, CIBC boosted their price objective on Gildan Activewear from $48.00 to $56.00 and gave the stock an "outperform" rating in a research report on Friday, November 1st. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $54.78.

Gildan Activewear Trading Down 0.9 %

Shares of NYSE GIL traded down $0.45 during midday trading on Monday, reaching $50.73. The stock had a trading volume of 236,749 shares, compared to its average volume of 484,888. Gildan Activewear Inc. has a twelve month low of $32.23 and a twelve month high of $53.28. 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 company's 50 day moving average price is $48.96 and its 200 day moving average price is $46.92. The firm has a market cap of $7.74 billion, a price-to-earnings ratio of 20.05, a price-to-earnings-growth ratio of 1.71 and a beta of 1.41.

Gildan Activewear 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.