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

Key Points

• Gildan Activewear shares moved above their 50-day moving average, trading as high as C$78.20 before last changing hands at C$76.73.
• Analyst sentiment remains positive, with National Bank Financial raising its target price to C$101 and maintaining an outperform rating. The stock currently carries a consensus rating of “Moderate Buy” with a C$88 average target.
• The company recently reported quarterly EPS of C$0.60 on revenue of C$1.62 billion and also paid a quarterly dividend of $0.249 per share, implying an annualized yield of about 1.3%.

Gildan Activewear Inc. (TSE:GIL - Get Free Report) NYSE: GIL crossed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of C$77.37 and traded as high as C$78.20. Gildan Activewear shares last traded at C$76.73, with a volume of 552,749 shares changing hands.

Analyst Ratings Changes

Separately, National Bank Financial boosted their target price on Gildan Activewear from C$100.00 to C$101.00 and gave the company an "outperform" rating in a research note on Friday, May 1st. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of C$88.00.

Gildan Activewear Price Performance

The business's 50 day moving average is C$77.37 and its two-hundred day moving average is C$83.03. The company has a debt-to-equity ratio of 147.07, a quick ratio of 0.87 and a current ratio of 2.35. The firm has a market capitalization of C$14.21 billion, a PE ratio of 45.40, a price-to-earnings-growth ratio of 4.55 and a beta of 1.50.

Gildan Activewear (TSE:GIL - Get Free Report) NYSE: GIL last posted its quarterly earnings results on Thursday, April 30th. The company reported C$0.60 EPS for the quarter. Gildan Activewear had a return on equity of 10.08% and a net margin of 6.14%.The firm had revenue of C$1.62 billion during the quarter. Equities research analysts anticipate that Gildan Activewear Inc. will post 4.5460385 earnings per share for the current fiscal year.

Gildan Activewear Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 15th were given a $0.249 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date was Wednesday, May 20th. Gildan Activewear's dividend payout ratio (DPR) is 54.85%.

Insider Activity

In other Gildan Activewear news, Director Deepak Kumar Khandelwal acquired 5,000 shares of the business's stock in a transaction dated Monday, May 11th. The stock was bought at an average price of C$79.80 per share, with a total value of C$399,000.00. Following the completion of the acquisition, the director owned 5,000 shares of the company's stock, valued at C$399,000. This trade represents a ∞ increase in their ownership of the stock. Company insiders own 2.26% of the company's stock.

Gildan Activewear Company Profile

Gildan is a leading manufacturer of everyday basic apparel. The Company's product offering includes activewear, underwear, socks, and intimates sold to a broad range of customers, including wholesale distributors, screenprinters, embellishers, retailers or e-commerce platforms, as well as global lifestyle brand companies. Gildan markets its products in North America, Europe, Asia Pacific, and Latin America, under a diversified portfolio of Company-owned brands including Gildan®, Hanes®, Comfort Colors®, American Apparel®, ALLPRO¿, GOLDTOE®, Peds®, Bali®, Playtex®, Maidenform®, Bonds®, as well as Champion® which is under an exclusive licensing agreement for the printwear channel in the U.S.

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