BMO Capital Markets Lowers Gildan Activewear Inc (GIL) Price Target to C$30.00
Gildan Activewear Inc (TSE:GIL) (NYSE:GIL) had its target price cut by equities research analysts at BMO Capital Markets from C$34.00 to C$30.00 in a research note issued to investors on Friday. The firm presently has a “market perform” rating on the stock. BMO Capital Markets’ target price points to a potential downside of 18.98% from the company’s current price.
A number of other research firms also recently issued reports on GIL. TD Securities downgraded Gildan Activewear from a “buy” rating to a “hold” rating and set a C$41.50 price target on the stock. in a research report on Friday, August 4th. Royal Bank Of Canada downgraded Gildan Activewear from an “outperform” rating to a “sector perform” rating and set a C$40.00 price target on the stock. in a research report on Wednesday, July 12th. National Bank Financial increased their price target on Gildan Activewear from C$41.00 to C$42.00 and gave the stock a “sector perform” rating in a research report on Friday. Finally, Canaccord Genuity downgraded Gildan Activewear from a “buy” rating to a “hold” rating in a research report on Thursday, July 13th. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Gildan Activewear presently has a consensus rating of “Hold” and a consensus price target of C$39.58.
Shares of Gildan Activewear (GIL) traded down C$0.41 during trading on Friday, reaching C$37.03. The company’s stock had a trading volume of 1,250,000 shares, compared to its average volume of 631,893. Gildan Activewear has a 12 month low of C$30.97 and a 12 month high of C$42.18.
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In other Gildan Activewear news, Director Glenn J. Chamandy sold 136,700 shares of the stock in a transaction dated Monday, August 14th. The stock was sold at an average price of C$38.78, for a total value of C$5,301,226.00. Also, insider Jonathan Roiter sold 14,500 shares of the stock in a transaction dated Friday, August 18th. The shares were sold at an average price of C$37.53, for a total value of C$544,185.00. Over the last quarter, insiders sold 227,300 shares of company stock valued at $8,567,256.
About Gildan Activewear
Gildan Activewear Inc is a manufacturer and marketer of branded basic family apparel, including T-shirts, fleece, sport shirts, underwear, socks, hosiery and shapewear. The Company operates through two segments: Printwear and Branded Apparel. The Printwear segment designs, manufactures, sources, markets, and distributes undecorated activewear products.
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