Gildan Activewear (TSE:GIL) Stock Price Crosses Above 50 Day Moving Average - Time to Sell?

Key Points

• Gildan Activewear's stock price has surpassed its fifty-day moving average, currently trading at C$79.01 with a volume of 558,089 shares.
• Several brokerages have upgraded their ratings for Gildan, with National Bankshares increasing their price target to C$85.00, indicating strong investor confidence.
• The company recently declared a quarterly dividend of $0.226, representing an annualized yield of 1.1% and a payout ratio of 27.63%.

Shares of Gildan Activewear Inc. (TSE:GIL - Get Free Report) NYSE: GIL passed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of C$74.30 and traded as high as C$79.77. Gildan Activewear shares last traded at C$79.01, with a volume of 558,089 shares.

Analyst Ratings Changes

A number of brokerages have weighed in on GIL. National Bankshares upped their price target on shares of Gildan Activewear from C$80.00 to C$85.00 and gave the company an "outperform" rating in a report on Thursday, August 14th. Scotiabank raised shares of Gildan Activewear to a "strong-buy" rating in a report on Wednesday, May 28th. Cfra Research raised shares of Gildan Activewear to a "hold" rating in a report on Monday, August 4th. Royal Bank Of Canada raised shares of Gildan Activewear to a "moderate buy" rating in a report on Tuesday, August 5th. Finally, TD Securities upped their price target on shares of Gildan Activewear from C$60.00 to C$67.00 and gave the company a "buy" rating in a report on Monday, September 8th. Three equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Gildan Activewear presently has an average rating of "Buy" and an average price target of C$77.33.

Gildan Activewear Stock Down 0.6%

The company has a market cap of C$11.78 billion, a price-to-earnings ratio of 25.32, a P/E/G ratio of 4.55 and a beta of 1.27. The company has a current ratio of 2.31, a quick ratio of 0.87 and a debt-to-equity ratio of 101.26. The business has a fifty day moving average price of C$74.30 and a two-hundred day moving average price of C$67.90.

Gildan Activewear Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 15th were paid a $0.226 dividend. The ex-dividend date of this dividend was Thursday, August 21st. This represents a $0.90 annualized dividend and a dividend yield of 1.1%. Gildan Activewear's payout ratio is presently 27.63%.

Insider Transactions at Gildan Activewear

In related news, insider Benito Masi sold 15,000 shares of Gildan Activewear stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of C$75.07, for a total value of C$1,126,017.00. Following the transaction, the insider owned 359,421 shares in the company, valued at C$26,980,943.74. This trade represents a 4.01% decrease in their position. 2.26% of the stock is owned by insiders.

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.

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