Gildan Activewear (TSE:GIL) Share Price Crosses Below 200-Day Moving Average – Here’s Why

Gildan Activewear Inc. (TSE:GIL) (NYSE:GIL)’s share price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$84.47 and traded as low as C$80.66. Gildan Activewear shares last traded at C$82.41, with a volume of 131,118 shares trading hands.

Wall Street Analyst Weigh In

GIL has been the subject of several research analyst reports. Desjardins raised their target price on Gildan Activewear from C$95.00 to C$108.00 and gave the company a “buy” rating in a research report on Wednesday, February 25th. National Bank Financial raised their target price on Gildan Activewear from C$100.00 to C$101.00 and gave the company an “outperform” rating in a research report on Friday, May 1st. Finally, TD Securities raised their target price on Gildan Activewear from C$77.00 to C$80.00 and gave the company a “buy” rating in a research report on Friday, February 27th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Gildan Activewear currently has a consensus rating of “Moderate Buy” and an average target price of C$88.00.

Gildan Activewear Stock Up 2.6%

The stock has a 50 day moving average of C$79.19 and a 200-day moving average of C$84.47. The firm has a market capitalization of C$15.26 billion, a P/E ratio of 48.76, a PEG ratio of 4.55 and a beta of 1.62. The company has a debt-to-equity ratio of 147.07, a quick ratio of 0.87 and a current ratio of 2.35.

Gildan Activewear (TSE:GIL) (NYSE:GIL) last announced its quarterly earnings data on Thursday, April 30th. The company reported C$0.60 earnings per share (EPS) for the quarter. Gildan Activewear had a return on equity of 10.08% and a net margin of 6.14%.The business had revenue of C$1.62 billion for the quarter. Research analysts predict that Gildan Activewear Inc. will post 4.5460385 earnings per share for the current fiscal year.

Gildan Activewear Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 15th will be paid a $0.249 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Wednesday, May 20th. Gildan Activewear’s payout ratio is currently 54.85%.

Insider Transactions at Gildan Activewear

In other news, Director Deepak Kumar Khandelwal acquired 5,000 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were acquired at an average cost of C$79.80 per share, for a total transaction of C$399,000.00. Following the purchase, the director owned 5,000 shares of the company’s stock, valued at approximately C$399,000. The trade was a ∞ increase in their position. Corporate 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.