Gildan Activewear (TSE:GIL) Given New C$98.00 Price Target at National Bank Financial

Key Points

• National Bank Financial lowered Gildan Activewear’s price target to C$98 from C$107 while maintaining an “outperform” rating, implying approximately 70.55% upside from the reported C$57.46 share price.
• Analyst sentiment remains broadly positive: Desjardins assigned a C$108 target and “buy” rating, while the stock has a consensus “Moderate Buy” rating and an average target of C$87.25.
• Gildan shares traded near their 12-month low, with the stock below both its 50-day and 200-day moving averages; an insider also sold 8,000 shares worth approximately C$607,440.

Gildan Activewear (TSE:GIL - Get Free Report) NYSE: GIL had its price target cut by investment analysts at National Bank Financial from C$107.00 to C$98.00 in a note issued to investors on Monday, BayStreet reports. The firm presently has an "outperform" rating on the stock. National Bank Financial's price target would suggest a potential upside of 70.55% from the company's current price.

Separately, Desjardins set a C$108.00 price objective on Gildan Activewear and gave the stock a "buy" rating in a research note on Tuesday, July 28th. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, Gildan Activewear has an average rating of "Moderate Buy" and a consensus target price of C$87.25.

Gildan Activewear Price Performance

Shares of TSE:GIL traded down C$0.39 during trading on Monday, reaching C$57.46. The company had a trading volume of 2,461,105 shares, compared to its average volume of 653,313. The firm's fifty day moving average is C$67.98 and its 200 day moving average is C$74.36. The firm has a market capitalization of C$10.64 billion, a PE ratio of 112.67, a price-to-earnings-growth ratio of 4.55 and a beta of 1.63. Gildan Activewear has a twelve month low of C$56.46 and a twelve month high of C$100.44. The company has a debt-to-equity ratio of 145.29, a quick ratio of 0.87 and a current ratio of 1.93.

Gildan Activewear (TSE:GIL - Get Free Report) NYSE: GIL last posted its quarterly earnings data on Thursday, July 30th. The company reported C$1.82 EPS for the quarter. The business had revenue of C$1.13 billion for the quarter. Gildan Activewear had a net margin of 1.33% and a return on equity of 2.12%. On average, equities analysts forecast that Gildan Activewear will post 4.55 EPS for the current year.

Insider Buying and Selling at Gildan Activewear

In other Gildan Activewear news, insider Maria Andrea Pirie Woodbridge sold 8,000 shares of the firm's stock in a transaction on 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 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. 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. 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.

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