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

Gildan Activewear Inc. (TSE:GIL) (NYSE:GIL) crossed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of C$79.95 and traded as low as C$72.84. Gildan Activewear shares last traded at C$74.90, with a volume of 1,030,681 shares trading hands.

Analyst Ratings Changes

GIL has been the topic of several research reports. Desjardins boosted their price objective on shares of Gildan Activewear from C$95.00 to C$108.00 and gave the stock a “buy” rating in a research note on Wednesday, February 25th. TD Securities raised their target price on shares of Gildan Activewear from C$77.00 to C$80.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Finally, National Bank Financial lifted their target price on shares of Gildan Activewear from C$100.00 to C$101.00 and gave the company an “outperform” rating in a report on Friday, May 1st. 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 MarketBeat, Gildan Activewear currently has a consensus rating of “Moderate Buy” and a consensus price target of C$88.00.

Gildan Activewear Stock Up 1.6%

The firm has a market capitalization of C$13.87 billion, a P/E ratio of 44.32, a P/E/G ratio of 4.55 and a beta of 1.49. The company has a fifty day simple moving average of C$79.95 and a 200 day simple moving average of C$84.44. The company has a quick ratio of 0.87, a current ratio of 2.35 and a debt-to-equity ratio of 147.07.

Gildan Activewear (TSE:GIL) (NYSE:GIL) last issued its quarterly earnings results 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 during the quarter. Gildan Activewear had a return on equity of 10.08% and a net margin of 6.14%. On average, equities analysts expect that Gildan Activewear Inc. will post 4.5460385 EPS for the current fiscal year.

Gildan Activewear Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 15th were given a dividend of $0.249 per share. This represents a $1.00 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Wednesday, May 20th. Gildan Activewear’s dividend payout ratio is 54.85%.

Insider Activity at Gildan Activewear

In other news, Director Deepak Kumar Khandelwal purchased 5,000 shares of Gildan Activewear stock in a transaction that occurred on Monday, May 11th. The stock was bought at an average price of C$79.80 per share, with a total value of C$399,000.00. Following the completion of the transaction, the director directly owned 5,000 shares of the company’s stock, valued at approximately C$399,000. The trade was a ∞ increase in their ownership of the stock. 2.26% of the stock is currently owned by insiders.

Gildan Activewear Company Profile

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.