Analyst Round-Up: 6 Downgrades on Gildan Activewear (GIL)

Following the company's Q1 results last night, Gildan Activewear (NYSE: GIL) is seeing substantial analyst attention this morning:

• Raymond James downgraded the stock from Strong Buy to Outperform.
  
• RBC Capital downgraded Gildan from Outperform to Sector Perform, also slashing its price target from $15 to $12.
  
• BB&T Capital cut its investment rating on Gildan from Hold to Underweight.
  
• analysts at Macquarie moved the stock from Neutral to Underperform, also reducing their price target from $11 to $8.
  
• Paradigm downgraded Gildan from Buy to Hold.
  
• Scotia cut the stock from Sector Perform to Sector Underperform.
  
• BMO Capital lowered its price target on Gildan from $14.50 to $12 while maintaining its prior investment rating.

Shares of Gildan are currently down 19%, or $1.95, to $8.26. While the quarterly report was certainly not pretty (the company also suspended guidance), today's slide is definitely being intensified by so much negative analyst commentary.

You May Also Be Interested In

• Matinas BioPharma to merge with GH Power, sell drug unit to Azurity
• Mesoblast reaches 300-patient enrollment in back pain Phase 3 trial
• Raymond James Downgrades TriCo Bancshares (TCBK) to Market Perform