Gildan Activewear Inc. (GIL) Forms Bearish Double Bottom Chart Pattern; Strong Momentum for Sellers

April 26, 2018 - By Dolores Ford

Gildan Activewear Inc. (NYSE:GIL) Logo

The chart of Gildan Activewear Inc. (GIL) shows a double bottom with $28.03 target or 3.00 % below today’s $28.90 share price. The 7 months chart pattern indicates high risk for the $6.30 billion company. It was reported on Apr, 26 by If the $28.03 price target is reached, the company will be worth $189.00 million less. Double bottoms are rare but powerful chart patterns.

The stock decreased 1.37% or $0.4 during the last trading session, reaching $28.9. About 293,827 shares traded. Gildan Activewear Inc. (NYSE:GIL) has risen 7.13% since April 26, 2017 and is uptrending. It has underperformed by 4.42% the S&P500.

Analysts await Gildan Activewear Inc. (NYSE:GIL) to report earnings on May, 2 after the close. They expect $0.36 EPS, down 7.69 % or $0.03 from last year’s $0.39 per share. GIL’s profit will be $78.48M for 20.07 P/E if the $0.36 EPS becomes a reality. After $0.31 actual EPS reported by Gildan Activewear Inc. for the previous quarter, Wall Street now forecasts 16.13 % EPS growth.

Gildan Activewear Inc. (NYSE:GIL) Ratings Coverage

Among 8 analysts covering Gildan Activewear (NYSE:GIL), 4 have Buy rating, 0 Sell and 4 Hold. Therefore 50% are positive. Gildan Activewear had 12 analyst reports since November 1, 2017 according to SRatingsIntel. On Wednesday, November 1 the stock rating was initiated by Macquarie Research with “Neutral”. The stock of Gildan Activewear Inc. (NYSE:GIL) has “Hold” rating given on Wednesday, February 14 by RBC Capital Markets. BMO Capital Markets maintained Gildan Activewear Inc. (NYSE:GIL) on Thursday, February 22 with “Hold” rating. Goldman Sachs reinitiated Gildan Activewear Inc. (NYSE:GIL) rating on Friday, December 8. Goldman Sachs has “Buy” rating and $37 target. The stock of Gildan Activewear Inc. (NYSE:GIL) has “Buy” rating given on Thursday, November 2 by GMP Securities. The firm has “Hold” rating by BMO Capital Markets given on Friday, November 3. The stock of Gildan Activewear Inc. (NYSE:GIL) earned “Buy” rating by Stifel Nicolaus on Friday, December 15. The stock has “Buy” rating by GMP Securities on Friday, February 23. RBC Capital Markets maintained Gildan Activewear Inc. (NYSE:GIL) on Friday, November 3 with “Hold” rating.

Gildan Activewear Inc. (NYSE:GIL) Ratings Chart

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