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

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

Several other equities analysts have also weighed in on GIL. Desjardins set a C$108.00 price objective on shares of Gildan Activewear and gave the stock a “buy” rating in a report on Tuesday, July 28th. National Bank Financial dropped their target price 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 currently has an average rating of “Buy” and an average price target of C$80.25.

Gildan Activewear Stock Performance

TSE:GIL traded up C$0.15 during trading on Tuesday, reaching C$57.42. The company’s stock had a trading volume of 164,196 shares, compared to its average volume of 646,465. Gildan Activewear has a 12 month low of C$55.01 and a 12 month high of C$100.44. The firm has a market cap 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 firm has a 50 day moving average of C$63.23 and a 200-day moving average of C$77.18. The company has a debt-to-equity ratio of 145.29, a quick ratio of 0.87 and a current ratio of 1.93.

Insider Buying and Selling

In other Gildan Activewear 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 transaction of C$607,440.00. Following the completion of the transaction, the insider owned 2,243 shares in the company, valued at C$170,310.99. This trade represents a 78.10% decrease in their ownership of the stock. 2.26% of the stock is currently owned by company insiders.

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.