Gildan Activewear (TSE:GIL) Share Price Passes Above Fifty Day Moving Average – Here’s Why

Gildan Activewear Inc. (TSE:GIL) (NYSE:GIL)’s share price crossed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of C$80.48 and traded as high as C$87.65. Gildan Activewear shares last traded at C$86.63, with a volume of 705,909 shares changing hands.

Wall Street Analysts Forecast Growth

GIL has been the topic of several recent research reports. National Bank Financial increased their price objective 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. TD Securities increased their price objective 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. Finally, Desjardins increased their price objective 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. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$88.00.

Gildan Activewear Price Performance

The stock has a market capitalization of C$16.04 billion, a P/E ratio of 51.26, a price-to-earnings-growth ratio of 4.55 and a beta of 1.49. The firm has a 50-day moving average price of C$80.48 and a 200 day moving average price of C$84.74. 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 issued its earnings results on Thursday, April 30th. The company reported C$0.60 earnings per share for the quarter. The company had revenue of C$1.62 billion during the quarter. Gildan Activewear had a return on equity of 10.08% and a net margin of 6.14%. On average, analysts expect that Gildan Activewear Inc. will post 4.5460385 EPS for the current year.

Gildan Activewear Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 15th were issued a dividend of $0.249 per share. The ex-dividend date was Wednesday, May 20th. This represents a $1.00 annualized dividend and a yield of 1.1%. Gildan Activewear’s dividend payout ratio is currently 54.85%.

Insiders Place Their Bets

In related news, Director Deepak Kumar Khandelwal bought 5,000 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The stock was bought at an average cost of C$79.80 per share, for a total transaction of C$399,000.00. Following the acquisition, the director directly owned 5,000 shares of the company’s stock, valued at C$399,000. The trade was a ∞ increase in their position. 2.26% of the stock is owned by corporate insiders.

About Gildan Activewear

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.