Gildan Activewear (TSE:GIL) Stock Price Passes Above Fifty Day Moving Average - Time to Sell?

Key Points

• Gildan Activewear's shares surpassed their 50-day moving average of C$70.52, reaching a high of C$77.41 during trading, and last traded at C$75.83 with a significant volume of over 204,000 shares.
• Recent analyst upgrades include a "moderate buy" from Royal Bank of Canada and a "strong-buy" from Barclays, with the average price target now at C$73.00 and a consensus rating of "Buy."
• The company declared a quarterly dividend of $0.226 per share, effective September 15th, representing an annualized yield of 1.2% with a payout ratio of 29.76%.

Gildan Activewear Inc. (TSE:GIL - Get Free Report) NYSE: GIL's share price passed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of C$70.52 and traded as high as C$77.41. Gildan Activewear shares last traded at C$75.83, with a volume of 204,932 shares trading hands.

Analysts Set New Price Targets

Several analysts have recently weighed in on GIL shares. Desjardins cut their price objective on Gildan Activewear from C$87.00 to C$80.00 and set a "buy" rating for the company in a report on Wednesday, April 30th. Cfra Research raised Gildan Activewear to a "hold" rating in a report on Monday, August 4th. National Bankshares upped their price target on Gildan Activewear from C$80.00 to C$85.00 and gave the company an "outperform" rating in a research report on Thursday, August 14th. Royal Bank Of Canada raised Gildan Activewear to a "moderate buy" rating in a research report on Tuesday, August 5th. Finally, Scotiabank raised Gildan Activewear to a "strong-buy" rating in a research report on Wednesday, May 28th. Three analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Gildan Activewear has a consensus rating of "Buy" and a consensus price target of C$73.00.

Gildan Activewear Stock Down 1.0%

The company has a debt-to-equity ratio of 101.26, a current ratio of 2.31 and a quick ratio of 0.87. The company has a market capitalization of C$8.20 billion, a price-to-earnings ratio of 20.26, a PEG ratio of 4.55 and a beta of 1.64. The firm has a 50-day moving average price of C$71.21 and a two-hundred day moving average price of C$67.77.

Gildan Activewear Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 15th will be given a dividend of $0.226 per share. This represents a $0.90 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Thursday, August 21st. Gildan Activewear's dividend payout ratio is currently 29.76%.

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.