Blurbs

Desjardins Thinks Gildan Activewear’s Stock is Going to Recover

Desjardins analyst Chris Li CFA maintained a Buy rating on Gildan Activewear (GILResearch Report) yesterday and set a price target of C$55.00. The company’s shares closed last Tuesday at $26.76, close to its 52-week low of $26.29.

According to TipRanks.com, CFA is a 2-star analyst with an average return of -1.0% and a 50.7% success rate. CFA covers the Consumer Goods sector, focusing on stocks such as Loblaw Companies, Canadian Tire, and Dollarama.

Gildan Activewear has an analyst consensus of Strong Buy, with a price target consensus of $44.80, representing a 65.9% upside. In a report issued on July 5, TD Securities also maintained a Buy rating on the stock with a $43.00 price target.

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Gildan Activewear’s market cap is currently $5.06B and has a P/E ratio of 7.95.

Based on the recent corporate insider activity of 36 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of GIL in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Gildan Activewear, Inc. engages in the manufacture and sale of printwear and branded apparel. Its products include activewear, underwear, socks, hosiery, and legwear. The firm operates under the brand name Gildan, American Apparel, Comfort Colors, Gold Toe, Anvil, Secret, Silks, Kushyfoot, Peds, and Mossy Oak. The company was founded by Glenn J. Chamandy and H. Gregory Chamandy on May 8, 1984 and is headquartered in Montréal, Canada.

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