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

Gildan Activewear Inc. (TSE:GIL - Get Free Report) NYSE: GIL shares crossed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of C$62.66 and traded as high as C$65.85. Gildan Activewear shares last traded at C$65.11, with a volume of 478,239 shares changing hands.

Analyst Upgrades and Downgrades

GIL has been the topic of a number of recent analyst reports. Barclays upgraded Gildan Activewear to a "strong-buy" rating in a research note on Monday, April 28th. 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 note on Wednesday, April 30th. Scotiabank raised shares of Gildan Activewear to a "strong-buy" rating in a research report on Wednesday, May 28th. Finally, National Bankshares dropped their target price on shares of Gildan Activewear from C$83.00 to C$72.00 in a research note on Monday, April 21st. Four research analysts have rated the stock with a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, Gildan Activewear presently has a consensus rating of "Strong Buy" and a consensus price target of C$64.00.

Gildan Activewear Trading Down 0.5%

The company has a debt-to-equity ratio of 101.26, a quick ratio of 0.87 and a current ratio of 2.31. The company has a market capitalization of C$7.07 billion, a P/E ratio of 17.46, a PEG ratio of 4.55 and a beta of 1.64. The company's fifty day simple moving average is C$62.66 and its 200-day simple moving average is C$67.74.

Gildan Activewear Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 16th will be issued a dividend of $0.226 per share. This represents a $0.90 annualized dividend and a yield of 1.39%. The ex-dividend date of this dividend is Tuesday, May 20th. Gildan Activewear's payout ratio is 29.76%.

Insider Buying and Selling

In other news, Senior Officer John Maness sold 1,661 shares of the firm's stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of C$68.77, for a total value of C$114,234.28. Also, Senior Officer Juan Carlos Contreras Y. Contreras sold 4,900 shares of Gildan Activewear stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of C$65.00, for a total transaction of C$318,490.20. Following the completion of the transaction, the insider now directly owns 144 shares in the company, valued at approximately C$9,359.71. The trade was a 97.15% decrease in their position. Insiders sold 21,561 shares of company stock valued at $1,462,564 over the last 90 days. Corporate 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.

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