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

Gildan Activewear (TSE:GIL) (NYSE:GIL) had its price objective reduced by research analysts at Desjardins from C$108.00 to C$90.00 in a report released on Tuesday, BayStreet reports. The firm currently has a “buy” rating on the stock. Desjardins‘s price objective would indicate a potential upside of 56.74% from the company’s current price.

A number of other research analysts also recently issued reports on the company. Scotia decreased their price target on Gildan Activewear from C$67.00 to C$53.00 and set a “sector outperform” rating for the company in a report on Tuesday. National Bank Financial dropped their price objective on shares of Gildan Activewear from C$107.00 to C$98.00 and set an “outperform” rating on the stock in a research note on Monday, October 19th. Four equities research analysts have rated the stock with a Buy rating. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of C$80.25.

Gildan Activewear Stock Performance

Shares of GIL traded up C$0.15 during mid-day trading on Tuesday, reaching C$57.42. The company had a trading volume of 164,196 shares, compared to its average volume of 646,465. Gildan Activewear has a 52-week low of C$55.01 and a 52-week high of C$100.44. The company has a quick ratio of 0.87, a current ratio of 1.93 and a debt-to-equity ratio of 145.29. The stock has a market capitalization of C$10.63 billion, a P/E ratio of 112.59, a PEG ratio of 4.55 and a beta of 1.63. The stock has a 50 day moving average of C$63.23 and a two-hundred day moving average of C$77.18.

Insider Activity

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