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

Meritage Portfolio Management acquired a new position in shares of Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 9,820 shares of the textile maker’s stock, valued at approximately $462,000.

Several other hedge funds have also made changes to their positions in GIL. Creative Planning boosted its holdings in shares of Gildan Activewear by 26.4% during the second quarter. Creative Planning now owns 11,743 shares of the textile maker’s stock worth $445,000 after purchasing an additional 2,456 shares during the last quarter. Cetera Investment Advisers boosted its holdings in Gildan Activewear by 194.1% in the second quarter. Cetera Investment Advisers now owns 28,958 shares of the textile maker’s stock valued at $1,098,000 after acquiring an additional 19,112 shares during the last quarter. CWM LLC boosted its holdings in Gildan Activewear by 23.0% in the third quarter. CWM LLC now owns 1,698 shares of the textile maker’s stock valued at $80,000 after acquiring an additional 318 shares during the last quarter. Willis Investment Counsel boosted its holdings in Gildan Activewear by 3.9% in the third quarter. Willis Investment Counsel now owns 34,545 shares of the textile maker’s stock valued at $1,627,000 after acquiring an additional 1,296 shares during the last quarter. Finally, Laurus Investment Counsel Inc. acquired a new position in Gildan Activewear in the third quarter valued at $203,000. Institutional investors and hedge funds own 82.83% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on GIL. Citigroup lifted their target price on Gildan Activewear from $54.00 to $59.00 and gave the company a “buy” rating in a report on Friday, November 1st. BMO Capital Markets lifted their target price on Gildan Activewear from $47.00 to $58.00 and gave the company an “outperform” rating in a report on Friday, November 1st. CIBC lifted their target price on Gildan Activewear from $48.00 to $56.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Stifel Nicolaus lifted their target price on Gildan Activewear from $54.00 to $60.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, UBS Group upgraded Gildan Activewear from a “neutral” rating to a “buy” rating and lifted their target price for the company from $50.00 to $60.00 in a report on Friday, January 10th. Ten analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $53.35.

Gildan Activewear Trading Down 1.0 %

Shares of GIL opened at $51.96 on Friday. The stock’s 50-day moving average is $48.88 and its two-hundred day moving average is $46.69. The stock has a market cap of $7.92 billion, a PE ratio of 20.54, a P/E/G ratio of 1.70 and a beta of 1.41. Gildan Activewear Inc. has a 12 month low of $32.23 and a 12 month high of $53.29. 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 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.