Gildan Activewear (TSE:GIL) Share Price Passes Above Fifty Day Moving Average – Here’s Why

Shares of Gildan Activewear Inc. (TSE:GIL) (NYSE:GIL) crossed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of C$80.48 and traded as high as C$87.65. Gildan Activewear shares last traded at C$86.63, with a volume of 705,909 shares changing hands.

Wall Street Analyst Weigh In

GIL has been the topic of a number of recent analyst reports. National Bank Financial lifted their price objective on Gildan Activewear from C$100.00 to C$101.00 and gave the stock an “outperform” rating in a research report on Friday, May 1st. TD Securities lifted their price objective on Gildan Activewear from C$77.00 to C$80.00 and gave the stock a “buy” rating in a research report on Friday, February 27th. Finally, Desjardins lifted their price objective on Gildan Activewear from C$95.00 to C$108.00 and gave the stock a “buy” rating in a research report on Wednesday, February 25th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of C$88.00.

Gildan Activewear Trading Up 1.8%

The stock has a market capitalization of C$16.04 billion, a P/E ratio of 51.26, a price-to-earnings-growth ratio of 4.55 and a beta of 1.49. The stock has a 50-day moving average price of C$80.48 and a two-hundred day moving average price of C$84.74. The company has a debt-to-equity ratio of 147.07, a quick ratio of 0.87 and a current ratio of 2.35.

Gildan Activewear (TSE:GIL) (NYSE:GIL) last issued its quarterly earnings data on Thursday, April 30th. The company reported C$0.60 earnings per share for the quarter. The firm had revenue of C$1.62 billion for the quarter. Gildan Activewear had a return on equity of 10.08% and a net margin of 6.14%. On average, research analysts forecast that Gildan Activewear Inc. will post 4.5460385 EPS for the current fiscal year.

Gildan Activewear Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 15th were given a $0.249 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Wednesday, May 20th. Gildan Activewear’s dividend payout ratio (DPR) is currently 54.85%.

Insider Activity at Gildan Activewear

In other news, Director Deepak Kumar Khandelwal bought 5,000 shares of the stock in a transaction dated Monday, May 11th. The stock was bought at an average price of C$79.80 per share, for a total transaction of C$399,000.00. Following the purchase, the director directly owned 5,000 shares in the company, valued at C$399,000. This trade represents a ∞ increase in their position. 2.26% of the stock is currently owned by insiders.

About Gildan Activewear

Gildan is a leading manufacturer of everyday basic apparel. The Company’s product offering includes activewear, underwear, socks, and intimates sold to a broad range of customers, including wholesale distributors, screenprinters, embellishers, retailers or e-commerce platforms, as well as global lifestyle brand companies. Gildan markets its products in North America, Europe, Asia Pacific, and Latin America, under a diversified portfolio of Company-owned brands including Gildan®, Hanes®, Comfort Colors®, American Apparel®, ALLPRO¿, GOLDTOE®, Peds®, Bali®, Playtex®, Maidenform®, Bonds®, as well as Champion® which is under an exclusive licensing agreement for the printwear channel in the U.S.