Desjardins Has Lowered Expectations for Gildan Activewear (TSE:GIL) Stock Price

Gildan Activewear (TSE:GIL) (NYSE:GIL) had its target price dropped by research analysts at Desjardins from C$87.00 to C$80.00 in a research report issued on Wednesday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. Desjardins’ target price indicates a potential upside of 25.61% from the stock’s current price.

Several other research analysts have also recently commented on the stock. UBS Group upgraded shares of Gildan Activewear from a “hold” rating to a “strong-buy” rating in a report on Friday, January 10th. Barclays upgraded shares of Gildan Activewear to a “strong-buy” rating in a research note on Monday. Finally, National Bankshares cut their price target on Gildan Activewear from C$83.00 to C$72.00 in a research note on Monday, April 21st. Four analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Gildan Activewear currently has an average rating of “Buy” and a consensus price target of C$64.00.

Gildan Activewear Stock Up 0.3 %

Shares of TSE GIL opened at C$63.69 on Wednesday. Gildan Activewear has a 12-month low of C$44.23 and a 12-month high of C$79.11. The stock has a market cap of C$6.92 billion, a P/E ratio of 17.08, a PEG ratio of 4.55 and a beta of 1.64. The company has a current ratio of 2.31, a quick ratio of 0.87 and a debt-to-equity ratio of 101.26. The business’s fifty day simple moving average is C$63.96 and its 200-day simple moving average is C$67.75.

Gildan Activewear (TSE:GIL) (NYSE:GIL) last posted its quarterly earnings results on Wednesday, February 19th. The company reported C$0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.82 by C$0.01. Gildan Activewear had a return on equity of 23.10% and a net margin of 13.05%. During the same period last year, the company posted $0.75 EPS. As a group, equities analysts predict that Gildan Activewear will post 4.5460385 EPS for the current fiscal year.

Insider Buying and Selling at Gildan Activewear

In other news, Senior Officer Michael Schroeder sold 4,299 shares of the stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of C$78.02, for a total value of C$335,428.68. Also, Senior Officer Rhodri Harries sold 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of C$78.08, for a total transaction of C$7,808,000.00. Insiders sold 110,144 shares of company stock worth $8,568,586 over the last 90 days. Corporate insiders own 2.26% of the company’s stock.

About Gildan Activewear

Gildan is a vertically integrated designer and manufacturer of basic apparel, including T-shirts, underwear, socks, and hosiery. Its primary market is the sale of blank T-shirts to wholesalers and printers (printwear). Gildan also sells branded clothing through retail and direct-to-consumer channels.