BMO Capital analyst Stephen MacLeod is keeping his Market Perform rating and $36 price target on Gildan Activewear, saying the stock may come under pressure after the company cut its Q1 guidance to reflect a trade receivable impairment from Heritage Sportswear. The analyst believes that the pressure would be short-lived however, noting that any "lost sales are likely to be absorbed by other distributors", resulting in minimal change to Gildan's FY19 sales. MacLeod continues to see a balanced risk-reward for the stock, adding that the Heritage loss "incrementally increases Gildan's customer concentration."

Unusual total active option classes on open include: Steel Dynamics (STLD), Gildan Activewear (GIL), Danaher (DHR), Altimeter Growth (GRAB), Childrens Place (PLCE), ASML (ASML), US Bancorp (USB), iShares Barclays 7 to 10 Year Treasury Bond Fund (IEF), AMC Entertainment (AMC), and Abbott (ABT).

Browning West , which is a long-term shareholder of Gildan Activewear and beneficially owns approximately 5.0% of the Company's outstanding shares, today issued the following statement regarding the Company's April 15th investor update. As a reminder, Browning West is seeking to elect eight highly qualified and independent director candidates to Gildan's Board of Directors at the Annual Meeting of Shareholders on May 28. Browning West's director candidates possess strong track records of value creation, expertise in successful succession planning, relevant industry and governance experience, as well as proven management and board service pedigrees in Canada and the U.S. "Browning West believes that Vince Tyra's 'new plan' raises troubling questions about the current Board's stewardship of the Company and confirms our fears that Mr. Tyra may lead Gildan down a similar destructive path as the ones he did at the helm of Fruit of the Loom Inc. and Broder Brothers Co

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