After UBS and National Bank gave Gildan Activewear (NYSE: GIL) a Buy rating last month, the company received another Buy, this time from CIBC. Analyst Mark Petrie reiterated a Buy rating on Gildan Activewear today and set a price target of C$44.00. The company’s shares closed last Thursday at $35.00, close to its 52-week high of $35.39.
According to TipRanks.com, Petrie is a 5-star analyst with an average return of 15.6% and a 65.4% success rate. Petrie covers the Consumer Goods sector, focusing on stocks such as Canada Goose Holdings, Loblaw Companies, and Canadian Tire.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Gildan Activewear with a $36.12 average price target, a 2.1% upside from current levels. In a report issued on April 19, National Bank also maintained a Buy rating on the stock with a C$45.00 price target.
See today’s analyst top recommended stocks >>
Based on Gildan Activewear’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $690 million and net profit of $67.35 million. In comparison, last year the company earned revenue of $659 million and had a net profit of $32.51 million.
Based on the recent corporate insider activity of 20 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling 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.
