Gildan Activewear (TSE:GIL) Share Price Crosses Above 50 Day Moving Average - What's Next?

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%.

Shares of Gildan Activewear Inc. (TSE:GIL - Get Free Report) NYSE: GIL passed above its 50-day moving average during trading on Monday . The stock has a 50-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.

Wall Street Analysts Forecast Growth

GIL has been the topic of a number of research reports. Cfra Research upgraded Gildan Activewear to a "hold" rating in a research note on Monday, August 4th. Royal Bank Of Canada raised Gildan Activewear to a "moderate buy" rating in a research report on Tuesday, August 5th. National Bankshares raised their target price on Gildan Activewear from C$80.00 to C$85.00 and gave the stock an "outperform" rating in a research report on Thursday, August 14th. Finally, Scotiabank raised shares of Gildan Activewear to a "strong-buy" rating in a report on Wednesday, May 28th. Three research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of C$73.00.

Gildan Activewear Stock Down 0.8%

The company has a market capitalization of C$11.18 billion, a PE ratio of 24.03, a P/E/G ratio of 4.55 and a beta of 1.22. 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 50-day moving average of C$71.43 and a two-hundred day moving average of C$67.72.

Gildan Activewear Dividend Announcement

The business 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 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Thursday, August 21st. Gildan Activewear's payout ratio is presently 27.63%.

Gildan Activewear Company Profile

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.