Desjardins Issues Pessimistic Forecast for Gildan Activewear (TSE:GIL) Stock Price

Gildan Activewear (TSE:GIL) (NYSE:GIL) had its target price dropped by analysts at Desjardins from C$108.00 to C$90.00 in a research note issued on Tuesday, BayStreet reports. The brokerage currently has a “buy” rating on the stock. Desjardins‘s price objective indicates a potential upside of 56.74% from the stock’s current price.

Other analysts have also issued research reports about the stock. Scotia dropped their target price on shares of Gildan Activewear from C$67.00 to C$53.00 and set a “sector outperform” rating on the stock in a research report on Tuesday. National Bank Financial lowered their price objective on Gildan Activewear from C$107.00 to C$98.00 and set an “outperform” rating on the stock in a report on Monday, October 19th. Four analysts have rated the stock with a Buy rating. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of C$80.25.

Gildan Activewear Price Performance

TSE GIL traded up C$0.15 on Tuesday, hitting C$57.42. The company had a trading volume of 164,196 shares, compared to its average volume of 646,465. The company has a market capitalization of C$10.63 billion, a PE ratio of 112.59, a PEG ratio of 4.55 and a beta of 1.63. The company’s fifty day moving average price is C$63.23 and its 200-day moving average price is C$77.18. The company has a debt-to-equity ratio of 145.29, a current ratio of 1.93 and a quick ratio of 0.87. Gildan Activewear has a 12-month low of C$55.01 and a 12-month high of C$100.44.

Insider Activity

In other news, insider Maria Andrea Pirie Woodbridge sold 8,000 shares of the stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of C$75.93, for a total value of C$607,440.00. Following the completion of the sale, the insider directly owned 2,243 shares in the company, valued at C$170,310.99. This represents a 78.10% decrease in their ownership of the stock. 2.26% of the stock is owned by insiders.

About Gildan Activewear

Gildan is a leading manufacturer of everyday basic apparel. The Company’s product offering includes activewear, underwear, socks, and intimates sold to a broad range of customers, including wholesale distributors, screenprinters, embellishers, retailers or e-commerce platforms, as well as global lifestyle brand companies and directly to consumers. Gildan markets its products in North America, Europe, Asia Pacific, and Latin America, under a diversified portfolio of Company-owned brands including Gildan, Hanes, Comfort Colors, American Apparel, ALLPRO, GOLDTOE, Peds, Bali, Playtex, Maidenform, Bonds, as well as Champion which is under an exclusive licensing agreement for the printwear channel in the U.S.