National Bank Financial Increases Gildan Activewear (TSE:GIL) Price Target to C$107.00

Key Points

• National Bank Financial raised Gildan Activewear’s price target to C$107 from C$105 and maintained an “outperform” rating, implying 36.48% potential upside from the prior close.
• Desjardins also issued a bullish view with a C$108 target and “buy” rating. Overall, analysts rate the stock “Moderate Buy,” with an average target of C$89.50.
• Gildan shares rose 6.9% to C$78.40, while a company director purchased 5,000 shares for approximately C$399,000, increasing insider ownership to 2.26%.

Gildan Activewear (TSE:GIL - Get Free Report) NYSE: GIL had its price objective raised by National Bank Financial from C$105.00 to C$107.00 in a report released on Friday,BayStreet.CA reports. The brokerage currently has an "outperform" rating on the stock. National Bank Financial's target price points to a potential upside of 36.48% from the stock's previous close.

Separately, Desjardins set a C$108.00 price target on shares of Gildan Activewear and gave the company a "buy" rating in a research note on Tuesday. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of C$89.50.

Gildan Activewear Stock Up 6.9%

Shares of TSE:GIL traded up C$5.03 on Friday, hitting C$78.40. 611,713 shares of the company's stock were exchanged, compared to its average volume of 612,289. The firm's 50-day moving average is C$76.52 and its 200 day moving average is C$82.21. The company has a market capitalization of C$14.52 billion, a PE ratio of 46.39, a P/E/G ratio of 4.55 and a beta of 1.50. Gildan Activewear has a 1-year low of C$63.41 and a 1-year high of C$100.44. The company has a debt-to-equity ratio of 147.07, a quick ratio of 0.87 and a current ratio of 2.35.

Gildan Activewear (TSE:GIL - Get Free Report) NYSE: GIL last issued its earnings results on Thursday, July 30th. The company reported C$1.82 earnings per share for the quarter. The business had revenue of C$1.13 billion for the quarter. Gildan Activewear had a return on equity of 10.08% and a net margin of 6.14%. Sell-side analysts predict that Gildan Activewear will post 4.5460385 EPS for the current year.

Insider Activity

In other news, Director Deepak Kumar Khandelwal purchased 5,000 shares of the company's stock in a transaction that occurred on Monday, May 11th. The shares were purchased at an average price of C$79.80 per share, for a total transaction of C$399,000.00. Following the purchase, the director directly owned 5,000 shares of the company's stock, valued at C$399,000. This represents a ∞ increase in their position. 2.26% of the stock is currently owned by company 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. 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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