Gildan Activewear (TSE:GIL) Stock Price Passes Above 50-Day Moving Average – Here’s Why

Gildan Activewear Inc. (TSE:GIL) (NYSE:GIL)’s share price passed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of C$61.69 and traded as high as C$65.17. Gildan Activewear shares last traded at C$65.00, with a volume of 230,362 shares trading hands.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. BMO Capital Markets raised shares of Gildan Activewear to a “strong-buy” rating in a research report on Friday, August 2nd. Citigroup increased their target price on shares of Gildan Activewear from C$44.00 to C$54.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. Desjardins lifted their price target on shares of Gildan Activewear from C$63.00 to C$67.00 and gave the company a “buy” rating in a research report on Tuesday, August 6th. TD Securities boosted their target price on shares of Gildan Activewear from C$46.00 to C$50.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Finally, National Bankshares increased their price target on Gildan Activewear from C$58.00 to C$68.00 in a research note on Wednesday, October 9th. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of C$56.00.

Gildan Activewear Stock Performance

The stock has a fifty day simple moving average of C$62.07 and a two-hundred day simple moving average of C$54.87. The company has a debt-to-equity ratio of 72.52, a quick ratio of 0.87 and a current ratio of 2.35. The stock has a market capitalization of C$10.86 billion, a price-to-earnings ratio of 20.43, a P/E/G ratio of 4.55 and a beta of 1.64.

Gildan Activewear (TSE:GIL) (NYSE:GIL) last released its earnings results on Thursday, August 1st. The company reported C$1.01 EPS for the quarter, topping the consensus estimate of C$0.99 by C$0.02. Gildan Activewear had a return on equity of 21.95% and a net margin of 13.01%. The business had revenue of C$1.18 billion during the quarter, compared to analysts’ expectations of C$1.17 billion. Analysts forecast that Gildan Activewear Inc. will post 4.5460385 earnings per share for the current fiscal year.

Gildan Activewear Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 16th were paid a $0.28 dividend. This is an increase from Gildan Activewear’s previous quarterly dividend of $0.28. This represents a $1.12 annualized dividend and a yield of 1.68%. The ex-dividend date was Thursday, August 22nd. Gildan Activewear’s payout ratio is 33.94%.

Insider Transactions at Gildan Activewear

In other Gildan Activewear news, Senior Officer Benito Masi sold 50,000 shares of the business’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of C$41.55, for a total transaction of C$2,077,495.00. In other news, Senior Officer Benito Masi sold 50,000 shares of the company’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of C$41.55, for a total value of C$2,077,495.00. Also, Senior Officer Rhodri Harries sold 32,500 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of C$61.20, for a total transaction of C$1,989,000.00. Insiders have sold 101,620 shares of company stock valued at $4,870,471 in the last 90 days. 2.26% of the stock is currently owned by corporate insiders.

About Gildan Activewear

Gildan Activewear Inc manufactures and sells various apparel products in the United States, North America, Europe, Asia-Pacific, and Latin America. It provides various activewear products, including T-shirts, fleece tops and bottoms, and sports shirts under the Gildan, Gildan Performance, Gildan Hammer, Glidan Softstyle, Gildan Heavy Cotton, Gildan Ultra Cotton, Gildan DryBlend, Gildan HeavyBlend, Comfort Colors, and American Apparel brands.