Gildan Activewear (NYSE:GIL) Stock Price Crosses Above 200-Day Moving Average - Here's Why

Key Points

• Gildan Activewear's stock price has recently crossed above its 200-day moving average, currently trading at $57.44, surpassing the average of $48.93.
• Recent analyst reports show a generally positive outlook, with several firms raising their price targets, resulting in an average target of $64.58 and a consensus rating of "Moderate Buy."
• The company reported earnings of $0.97 per share for the last quarter, exceeding expectations, and anticipates FY 2025 EPS guidance of 3.400-3.560.

Gildan Activewear, Inc. (NYSE:GIL - Get Free Report) TSE: GIL's stock price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $48.93 and traded as high as $57.80. Gildan Activewear shares last traded at $57.44, with a volume of 1,361,010 shares changing hands.

Analysts Set New Price Targets

GIL has been the topic of several recent research reports. Scotiabank reaffirmed an "outperform" rating on shares of Gildan Activewear in a report on Thursday, August 14th. CIBC upped their price target on shares of Gildan Activewear from $56.00 to $60.00 and gave the company an "outperformer" rating in a report on Friday, August 1st. Canaccord Genuity Group upped their price target on shares of Gildan Activewear from $60.00 to $67.00 and gave the company a "buy" rating in a report on Thursday, August 14th. BMO Capital Markets reaffirmed an "outperform" rating on shares of Gildan Activewear in a report on Thursday, August 14th. Finally, Barclays upped their price target on shares of Gildan Activewear from $51.00 to $56.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Eleven investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $64.58.

Gildan Activewear Stock Performance

The firm's 50 day moving average price is $53.77 and its 200-day moving average price is $48.93. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.67 and a current ratio of 3.87. The firm has a market capitalization of $8.56 billion, a PE ratio of 18.23, a price-to-earnings-growth ratio of 1.81 and a beta of 1.17.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last posted its earnings results on Thursday, July 31st. The textile maker reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.01. Gildan Activewear had a net margin of 14.55% and a return on equity of 34.31%. The business had revenue of $918.50 million for the quarter, compared to analyst estimates of $908.41 million. During the same period in the prior year, the company posted $0.74 EPS. The company's revenue for the quarter was up 6.5% on a year-over-year basis. Gildan Activewear has set its FY 2025 guidance at 3.400-3.560 EPS. On average, research analysts expect that Gildan Activewear, Inc. will post 3.48 EPS for the current year.

Gildan Activewear Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Thursday, August 21st were given a dividend of $0.226 per share. This represents a $0.90 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Thursday, August 21st. Gildan Activewear's dividend payout ratio is 28.57%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Maseco LLP acquired a new position in shares of Gildan Activewear during the 2nd quarter worth about $26,000. Smartleaf Asset Management LLC raised its position in shares of Gildan Activewear by 161.8% during the 2nd quarter. Smartleaf Asset Management LLC now owns 555 shares of the textile maker's stock worth $27,000 after purchasing an additional 343 shares during the last quarter. Twin Tree Management LP acquired a new position in shares of Gildan Activewear during the 1st quarter worth about $29,000. Olde Wealth Management LLC acquired a new position in shares of Gildan Activewear during the 1st quarter worth about $29,000. Finally, Versant Capital Management Inc raised its position in shares of Gildan Activewear by 510.7% during the 1st quarter. Versant Capital Management Inc now owns 745 shares of the textile maker's stock worth $33,000 after purchasing an additional 623 shares during the last quarter. Institutional investors and hedge funds own 82.83% of the company's stock.

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.

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