Gildan Activewear Inc (NYSE:GIL) (TSE:GIL) was the recipient of a large growth in short interest during the month of January. As of January 31st, there was short interest totalling 2,970,000 shares, a growth of 15.1% from the January 15th total of 2,580,000 shares. Approximately 1.5% of the shares of the stock are sold short. Based on an average trading volume of 846,500 shares, the days-to-cover ratio is presently 3.5 days.
A number of institutional investors and hedge funds have recently modified their holdings of GIL. Quest Capital Management Inc. ADV bought a new stake in shares of Gildan Activewear in the 3rd quarter worth about $98,000. Bartlett & Co. LLC lifted its stake in Gildan Activewear by 77.5% in the third quarter. Bartlett & Co. LLC now owns 3,905 shares of the textile maker’s stock worth $139,000 after purchasing an additional 1,705 shares during the last quarter. Quantum Capital Management bought a new stake in Gildan Activewear in the third quarter worth about $143,000. Atlas Capital Advisors LLC purchased a new position in shares of Gildan Activewear during the third quarter valued at approximately $171,000. Finally, Atria Investments LLC purchased a new position in shares of Gildan Activewear during the fourth quarter valued at approximately $235,000. Institutional investors own 69.46% of the company’s stock.
A number of research analysts recently weighed in on the stock. Edward Jones lowered shares of Gildan Activewear from a “buy” rating to a “hold” rating in a report on Monday, October 21st. Desjardins raised shares of Gildan Activewear from a “hold” rating to a “buy” rating and set a $42.00 price target on the stock in a research note on Friday, November 29th. BMO Capital Markets lowered their price objective on shares of Gildan Activewear from $41.00 to $31.00 and set a “market perform” rating for the company in a research report on Friday, October 18th. TD Securities dropped their price objective on shares of Gildan Activewear from $38.00 to $36.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Finally, Royal Bank of Canada reduced their target price on shares of Gildan Activewear from $36.00 to $30.00 and set a “sector perform” rating on the stock in a report on Friday, October 18th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $31.40.
NYSE GIL opened at $27.82 on Friday. The company has a market cap of $5.60 billion, a P/E ratio of 19.87, a P/E/G ratio of 1.67 and a beta of 0.88. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.61 and a current ratio of 4.18. The business’s 50 day moving average price is $29.09 and its 200-day moving average price is $31.60. Gildan Activewear has a fifty-two week low of $23.45 and a fifty-two week high of $40.40.
About Gildan Activewear
Gildan Activewear Inc manufactures and sells a range of apparel products in North America, Europe, the Asia-Pacific, and Latin America. The company manufactures and markets active wear products, including T-shirts, fleece tops and bottoms, and sport shirts under Gildan, Gildan Performance, Gildan Platinum, Gildan Hammer, Comfort Colors, American Apparel, Anvil, Alstyle, and Gold Toe brands.
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