The stock of Gildan Activewear Inc (TSE:GIL) gapped up by $0.03 today and has $57.19 target or 61.00% above today’s $35.52 share price. The 8 months technical chart setup indicates low risk for the $8.39 billion company. The gap was reported on Nov, 14 by Barchart.com. If the $57.19 price target is reached, the company will be worth $5.12B more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. About 372,649 shares traded hands. Gildan Activewear Inc (TSE:GIL) has declined 11.38% since April 8, 2016 and is downtrending. It has underperformed by 16.36% the S&P500.
Gildan Activewear Inc (TSE:GIL) Ratings Coverage
Out of 4 analysts covering Gildan Activewear Inc. (TSE:GIL), 4 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Gildan Activewear Inc. has been the topic of 13 analyst reports since July 28, 2015 according to StockzIntelligence Inc. The firm earned “Outperform” rating on Wednesday, July 20 by RBC Capital Markets. National Bank Canada maintained Gildan Activewear Inc (TSE:GIL) on Monday, October 26 with “Outperform” rating. The stock has “Outperform” rating given by RBC Capital Markets on Monday, October 17.
More recent Gildan Activewear Inc (TSE:GIL) news were published by: Forbes.com which released: “American Apparel Agrees To Gildan Activewear Acquisition” on November 14, 2016. Also Forbes.com published the news titled: “Ex-Dividend Reminder: Gildan Activewear, Metaldyne Performance Group and PACCAR” on November 14, 2016. Forbes.com‘s news article titled: “Gildan Activewear is Oversold” with publication date: October 20, 2016 was also an interesting one.
Gildan Activewear Inc. is a manufacturer and marketer of branded basic family apparel. The company has a market cap of $8.39 billion. The Company’s divisions include Printwear and Branded Apparel. It has a 18.32 P/E ratio. It offers T-shirts, fleece, sport shirts, underwear, socks, hosiery and shapewear.
GIL.TO Company Profile
Gildan Activewear Inc., incorporated on May 8, 1984, is a maker and marketer of branded basic family apparel. The Company’s divisions include Printwear and Branded Apparel. The Firm offers T-shirts, fleece, sport shirts, underwear, socks, hosiery and shapewear. The Firm markets its products through approximately two main distribution channels. The Firm sells its products in printwear markets in the United States and Canada, as well as in Europe, Asia-Pacific and Latin America. The Company’s other main channel of distribution is in retail markets in the United States and Canada, where its products are sold to a range of retailers. It markets its products under a portfolio of brands, including the Gildan, Gold Toe, Anvil and Comfort Colors brands, and brand extensions, as well as the Secret, Silks and Therapy Plus brands. The Firm also has the United States sock license for Under Armour, and licenses for the Mossy Oak and New Balance brands. The Firm also makes for global athletic and lifestyle consumer brands.
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