Gildan Activewear (TSE:GIL) Stock Price Passes Above Fifty Day Moving Average - Here's What Happened

Gildan Activewear Inc. (TSE:GIL - Get Free Report) NYSE: GIL's stock price passed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of C$62.39 and traded as high as C$69.75. Gildan Activewear shares last traded at C$67.76, with a volume of 484,530 shares changing hands.

Analyst Ratings Changes

A number of research firms have recently commented on GIL. Barclays upgraded shares of Gildan Activewear to a "strong-buy" rating in a research report on Monday, April 28th. Desjardins reduced their target price on Gildan Activewear from C$87.00 to C$80.00 and set a "buy" rating for the company in a research report on Wednesday, April 30th. Finally, National Bankshares decreased their target price on Gildan Activewear from C$83.00 to C$72.00 in a research note on Monday, April 21st. Four equities research analysts have rated the stock with a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of C$64.00.

Gildan Activewear Price Performance

The firm has a market capitalization of C$7.30 billion, a P/E ratio of 18.04, a PEG ratio of 4.55 and a beta of 1.64. The business's 50-day simple moving average is C$62.43 and its 200 day simple moving average is C$67.84. The company has a quick ratio of 0.87, a current ratio of 2.31 and a debt-to-equity ratio of 101.26.

Gildan Activewear (TSE:GIL - Get Free Report) NYSE: GIL last announced its quarterly earnings results on Wednesday, February 19th. The company reported C$0.83 earnings per share for the quarter, beating the consensus estimate of C$0.82 by C$0.01. Gildan Activewear had a net margin of 13.05% and a return on equity of 23.10%. During the same quarter in the previous year, the company posted $0.75 earnings per share. Sell-side analysts forecast that Gildan Activewear Inc. will post 4.5460385 earnings per share for the current year.

Gildan Activewear Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 16th will be given a dividend of $0.226 per share. The ex-dividend date of this dividend is Tuesday, May 20th. This represents a $0.90 annualized dividend and a dividend yield of 1.34%. Gildan Activewear's dividend payout ratio is presently 29.76%.

Insider Buying and Selling

In related news, Senior Officer Benito Masi sold 15,000 shares of Gildan Activewear stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of C$68.66, for a total transaction of C$1,029,840.00. Also, Senior Officer Michael Schroeder sold 4,299 shares of Gildan Activewear stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of C$78.02, for a total value of C$335,428.68. Insiders have sold a total of 130,044 shares of company stock valued at $9,916,917 over the last ninety days. Company insiders own 2.26% of the company's stock.

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.