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

Gildan Activewear (TSE:GIL) (NYSE:GIL) had its target price lowered by research analysts at Scotia from C$67.00 to C$53.00 in a research report issued to clients and investors on Tuesday, BayStreet reports. The brokerage presently has a “sector outperform” rating on the stock. Scotia‘s price objective suggests a potential downside of 7.70% from the stock’s previous close.

GIL has been the subject of a number of other research reports. Desjardins set a C$108.00 target price on Gildan Activewear and gave the company a “buy” rating in a report on Tuesday, July 28th. National Bank Financial lowered their price target on shares of 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 equities research analysts have rated the stock with a Buy rating. Based on data from MarketBeat.com, Gildan Activewear currently has an average rating of “Buy” and an average price target of C$80.25.

Gildan Activewear Stock Performance

Shares of TSE:GIL traded up C$0.15 during midday trading on Tuesday, reaching C$57.42. 164,196 shares of the company traded hands, compared to its average volume of 646,465. The firm’s fifty day moving average price is C$63.23 and its two-hundred day moving average price is C$77.18. The firm has a market capitalization of C$10.63 billion, a price-to-earnings ratio of 112.59, a price-to-earnings-growth ratio of 4.55 and a beta of 1.63. The company has a quick ratio of 0.87, a current ratio of 1.93 and a debt-to-equity ratio of 145.29. Gildan Activewear has a 12 month low of C$55.01 and a 12 month high of C$100.44.

Insider Transactions at Gildan Activewear

In related news, insider Maria Andrea Pirie Woodbridge sold 8,000 shares of Gildan Activewear stock in a transaction on 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 completion of the sale, the insider owned 2,243 shares of the company’s stock, valued at approximately C$170,310.99. This trade represents a 78.10% decrease in their ownership of the stock. Corporate insiders own 2.26% of the company’s stock.

Gildan Activewear Company Profile

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.