Candriam S.C.A. Decreases Stake in Gildan Activewear, Inc. $GIL

Candriam S.C.A. decreased its holdings in Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) by 6.4% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 117,326 shares of the textile maker’s stock after selling 7,995 shares during the quarter. Candriam S.C.A.’s holdings in Gildan Activewear were worth $6,779,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of GIL. Azzad Asset Management Inc. ADV raised its stake in shares of Gildan Activewear by 1.4% in the 3rd quarter. Azzad Asset Management Inc. ADV now owns 62,329 shares of the textile maker’s stock valued at $3,603,000 after acquiring an additional 839 shares during the period. Smartleaf Asset Management LLC boosted its position in Gildan Activewear by 53.0% during the 3rd quarter. Smartleaf Asset Management LLC now owns 849 shares of the textile maker’s stock worth $49,000 after purchasing an additional 294 shares during the period. Envestnet Asset Management Inc. increased its holdings in Gildan Activewear by 9.2% in the 3rd quarter. Envestnet Asset Management Inc. now owns 464,925 shares of the textile maker’s stock valued at $26,873,000 after purchasing an additional 39,072 shares in the last quarter. Bridges Investment Management Inc. raised its position in Gildan Activewear by 8.7% in the third quarter. Bridges Investment Management Inc. now owns 38,065 shares of the textile maker’s stock valued at $2,200,000 after purchasing an additional 3,060 shares during the period. Finally, Jones Financial Companies Lllp lifted its stake in shares of Gildan Activewear by 25.1% during the third quarter. Jones Financial Companies Lllp now owns 26,391 shares of the textile maker’s stock worth $1,522,000 after purchasing an additional 5,303 shares in the last quarter. 82.83% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GIL has been the subject of a number of recent research reports. TD Securities reiterated a “buy” rating and issued a $77.00 target price on shares of Gildan Activewear in a research note on Tuesday, January 27th. National Bankshares upped their price target on Gildan Activewear from $92.00 to $97.00 and gave the stock an “outperform” rating in a report on Monday, February 2nd. Scotiabank reiterated an “outperform” rating on shares of Gildan Activewear in a research note on Tuesday, February 3rd. Desjardins boosted their target price on shares of Gildan Activewear from $80.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, October 27th. Finally, Citigroup lowered shares of Gildan Activewear from a “buy” rating to a “neutral” rating and raised their price target for the company from $60.00 to $63.00 in a report on Monday, October 20th. Twelve investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $77.54.

Gildan Activewear Stock Performance

Shares of GIL opened at $71.99 on Wednesday. The firm has a market cap of $13.33 billion, a price-to-earnings ratio of 23.00 and a beta of 1.08. The company has a quick ratio of 0.88, a current ratio of 2.01 and a debt-to-equity ratio of 0.94. The business’s 50 day moving average is $63.76 and its two-hundred day moving average is $59.06. Gildan Activewear, Inc. has a 52-week low of $37.16 and a 52-week high of $73.05.

Gildan Activewear 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.