Entropy Technologies LP Invests $987,000 in Gildan Activewear Inc. (NYSE:GIL)

Entropy Technologies LP purchased a new stake in shares of Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 20,975 shares of the textile maker’s stock, valued at approximately $987,000.

Several other hedge funds have also recently made changes to their positions in the business. Lord Abbett & CO. LLC bought a new position in Gildan Activewear during the 3rd quarter valued at approximately $24,262,000. Janus Henderson Group PLC increased its position in Gildan Activewear by 3.6% during the third quarter. Janus Henderson Group PLC now owns 6,841,572 shares of the textile maker’s stock valued at $322,298,000 after acquiring an additional 240,375 shares during the last quarter. Simcoe Capital Management LLC lifted its stake in shares of Gildan Activewear by 10.5% in the 3rd quarter. Simcoe Capital Management LLC now owns 2,387,865 shares of the textile maker’s stock worth $112,492,000 after purchasing an additional 226,695 shares during the period. Natixis Advisors LLC raised its position in Gildan Activewear by 59.0% in the third quarter. Natixis Advisors LLC now owns 523,035 shares of the textile maker’s stock worth $24,640,000 after acquiring an additional 194,128 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its holdings in Gildan Activewear by 7,709.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 125,181 shares of the textile maker’s stock worth $5,899,000 after purchasing an additional 123,578 shares during the period. 82.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on GIL shares. BMO Capital Markets lifted their target price 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. CIBC increased their target price on Gildan Activewear from $48.00 to $56.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Stifel Nicolaus lifted their price target on Gildan Activewear from $54.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Citigroup boosted their price objective on shares of Gildan Activewear from $54.00 to $59.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, Canaccord Genuity Group upped their target price on Gildan Activewear from $52.00 to $53.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $54.78.

Gildan Activewear Trading Down 1.0 %

Shares of GIL stock opened at $50.67 on Tuesday. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.31 and a quick ratio of 0.98. The company has a market cap of $7.73 billion, a price-to-earnings ratio of 20.03, a PEG ratio of 1.71 and a beta of 1.41. Gildan Activewear Inc. has a 1-year low of $32.23 and a 1-year high of $53.28. The stock has a 50 day simple moving average of $48.96 and a 200-day simple moving average of $46.92.

Gildan Activewear Company 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.