Gildan Activewear (TSE:GIL) Shares Pass Below 200 Day Moving Average – Here’s What Happened

Gildan Activewear Inc. (TSE:GIL) (NYSE:GIL) shares crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$84.62 and traded as low as C$80.82. Gildan Activewear shares last traded at C$80.87, with a volume of 740,403 shares trading hands.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. 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. 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. Finally, 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. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Gildan Activewear presently has a consensus rating of “Moderate Buy” and an average target price of C$88.00.

Gildan Activewear Stock Down 1.2%

The firm has a fifty day moving average price of C$79.54 and a 200 day moving average price of C$84.62. The company has a quick ratio of 0.87, a current ratio of 2.35 and a debt-to-equity ratio of 147.07. The company has a market cap of C$14.98 billion, a P/E ratio of 47.85, a PEG ratio of 4.55 and a beta of 1.62.

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

Gildan Activewear Dividend Announcement

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

Insider Activity at Gildan Activewear

In other news, Director Deepak Kumar Khandelwal bought 5,000 shares of the stock in a transaction dated Monday, May 11th. The stock was bought at an average cost of C$79.80 per share, with a total value 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. This represents a ∞ increase in their ownership of the stock. Company insiders own 2.26% of the company’s stock.

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.