Gildan Activewear (TSE:GIL) Stock Price Crosses Above Fifty Day Moving Average - What's Next?

Key Points

• Gildan Activewear's stock price has recently crossed above its 50-day moving average, trading as high as C$74.29, and currently sits at C$72.31.
• Brokerages have upgraded their ratings for Gildan, with a consensus rating of "Buy" and a price target of C$73.00, while National Bankshares increased their price objective to C$85.00.
• The company announced a quarterly dividend of $0.226 per share, reflecting an annualized dividend yield of 1.3%, with the ex-dividend date set for August 21st.

Gildan Activewear Inc. (TSE:GIL - Get Free Report) NYSE: GIL shares passed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of C$71.77 and traded as high as C$74.29. Gildan Activewear shares last traded at C$72.31, with a volume of 375,253 shares traded.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on GIL shares. Scotiabank upgraded shares of Gildan Activewear to a "strong-buy" rating in a research note on Wednesday, May 28th. Royal Bank Of Canada raised shares of Gildan Activewear to a "moderate buy" rating in a research note on Tuesday, August 5th. Cfra Research raised shares of Gildan Activewear to a "hold" rating in a research note on Monday, August 4th. Finally, National Bankshares boosted their price objective on shares of Gildan Activewear from C$80.00 to C$85.00 and gave the company an "outperform" rating in a research note on Thursday, August 14th. Three investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Buy" and an average target price of C$73.00.

Gildan Activewear Trading Up 0.9%

The firm has a market capitalization of C$11.46 billion, a P/E ratio of 24.64, a price-to-earnings-growth ratio of 4.55 and a beta of 1.27. The company has a quick ratio of 0.87, a current ratio of 2.31 and a debt-to-equity ratio of 101.26. The firm's 50-day simple moving average is C$72.35 and its 200-day simple moving average is C$67.86.

Gildan Activewear Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 15th will be given a dividend of $0.226 per share. The ex-dividend date is Thursday, August 21st. This represents a $0.90 annualized dividend and a yield of 1.2%. Gildan Activewear's payout ratio is presently 27.63%.

About Gildan Activewear

Gildan is a vertically integrated designer and manufacturer of basic apparel, including T-shirts, underwear, socks, and hosiery. Its primary market is the sale of blank T-shirts to wholesalers and printers (printwear). Gildan also sells branded clothing through retail and direct-to-consumer channels.