Gildan Activewear (TSE:GIL) Share Price Crosses Above Fifty Day Moving Average - Here's Why

Gildan Activewear Inc. (TSE:GIL - Get Free Report) NYSE: GIL's stock price crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty 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 traded.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on GIL. Desjardins reduced their price target on shares of Gildan Activewear from C$87.00 to C$80.00 and set a "buy" rating on the stock in a research report on Wednesday, April 30th. Barclays upgraded shares of Gildan Activewear to a "strong-buy" rating in a research report on Monday, April 28th. Finally, National Bankshares reduced their price target on shares of Gildan Activewear from C$83.00 to C$72.00 in a research report on Monday, April 21st. Four analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of C$64.00.

Gildan Activewear Stock Performance

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 moving average price is C$62.48 and its 200 day moving average price is C$67.84. The company has a market capitalization of C$7.53 billion, a P/E ratio of 18.60, a P/E/G ratio of 4.55 and a beta of 1.64.

Gildan Activewear Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 16th will be issued a dividend of $0.226 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date is Tuesday, May 20th. Gildan Activewear's dividend payout ratio is currently 29.76%.

Insider Transactions at Gildan Activewear

In other Gildan Activewear news, Senior Officer Rhodri Harries sold 100,000 shares of the company's stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of C$78.08, for a total value of C$7,808,000.00. Also, Senior Officer Michael Schroeder sold 4,184 shares of the company's stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of C$74.31, for a total transaction of C$310,923.50. Following the completion of the sale, the insider now owns 51 shares in the company, valued at approximately C$3,789.94. This trade represents a 98.80% decrease in their position. In the last ninety days, insiders sold 125,745 shares of company stock valued at $9,581,488. Insiders own 2.26% of the company's stock.

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.