Hodges Capital Management Inc. Invests $5.83 Million in Gildan Activewear, Inc. $GIL

Hodges Capital Management Inc. purchased a new stake in Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) during the third quarter, HoldingsChannel.com reports. The firm purchased 100,800 shares of the textile maker’s stock, valued at approximately $5,826,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Zions Bancorporation National Association UT increased its holdings in Gildan Activewear by 14.1% in the third quarter. Zions Bancorporation National Association UT now owns 38,962 shares of the textile maker’s stock valued at $2,252,000 after buying an additional 4,816 shares in the last quarter. Vanguard Group Inc. increased its stake in Gildan Activewear by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 6,005,233 shares of the textile maker’s stock valued at $346,928,000 after purchasing an additional 32,917 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Gildan Activewear by 3.5% during the third quarter. JPMorgan Chase & Co. now owns 615,792 shares of the textile maker’s stock worth $35,593,000 after purchasing an additional 21,078 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in Gildan Activewear by 18.4% during the third quarter. PNC Financial Services Group Inc. now owns 6,788 shares of the textile maker’s stock worth $392,000 after purchasing an additional 1,053 shares in the last quarter. Finally, Tacita Capital Inc grew its holdings in Gildan Activewear by 2.5% in the third quarter. Tacita Capital Inc now owns 11,039 shares of the textile maker’s stock valued at $638,000 after purchasing an additional 270 shares during the last quarter. Hedge funds and other institutional investors own 82.83% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on GIL. Barclays reiterated an “overweight” rating and issued a $70.00 price objective (up from $64.00) on shares of Gildan Activewear in a research report on Thursday, October 30th. National Bank Financial increased their price target on shares of Gildan Activewear from $92.00 to $97.00 and gave the company an “outperform” rating in a research report on Monday, February 2nd. BMO Capital Markets raised their price objective on shares of Gildan Activewear from $70.00 to $78.00 and gave the stock an “outperform” rating in a research note on Monday, January 26th. Desjardins upped their target price on Gildan Activewear from $80.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, October 27th. Finally, Royal Bank Of Canada raised their price target on Gildan Activewear from $68.00 to $71.00 and gave the stock an “outperform” rating in a research report on Monday, October 27th. Twelve research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $77.54.

Gildan Activewear Trading Down 0.2%

Shares of GIL opened at $72.47 on Wednesday. Gildan Activewear, Inc. has a fifty-two week low of $37.16 and a fifty-two week high of $73.69. The company has a market capitalization of $13.42 billion, a PE ratio of 23.15 and a beta of 1.08. The stock has a fifty day moving average of $65.22 and a two-hundred day moving average of $59.79. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.88 and a current ratio of 2.01.

Gildan Activewear Company Profile

Gildan Activewear Inc (NYSE:GIL) is a vertically integrated manufacturer and wholesaler of branded basic apparel, including activewear, socks, hosiery and underwear. Headquartered in Montreal, Quebec, the company produces a wide range of products such as T-shirts, fleece garments, sport shirts, performance wear, and shapewear under its Gildan, Anvil, Comfort Colors, Gold Toe, Peds and Silks brands. Leveraging its in-house knitting, dyeing, cut-and-sew and finishing operations, Gildan supplies blank apparel to screen printers, promotional product distributors and major retailers around the world.

Since its founding in 1984 by Glenn J.