Gildan Activewear (TSE:GIL) Share Price Passes Below 50-Day Moving Average – Here’s Why

Gildan Activewear Inc. (TSE:GIL) (NYSE:GIL) shares crossed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of C$79.95 and traded as low as C$72.84. Gildan Activewear shares last traded at C$74.90, with a volume of 1,030,681 shares changing hands.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on GIL shares. Desjardins lifted their price objective on Gildan Activewear from C$95.00 to C$108.00 and gave the stock a “buy” rating in a research report on Wednesday, February 25th. TD Securities upped their target price on Gildan Activewear from C$77.00 to C$80.00 and gave the company a “buy” rating in a report on Friday, February 27th. Finally, National Bank Financial lifted their price target on shares of Gildan Activewear from C$100.00 to C$101.00 and gave the company an “outperform” rating in a report on Friday, May 1st. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$88.00.

Gildan Activewear Trading Up 1.6%

The company has a market capitalization of C$13.87 billion, a P/E ratio of 44.32, a P/E/G ratio of 4.55 and a beta of 1.49. The stock’s 50 day moving average is C$79.95 and its 200-day moving average is C$84.44. The company has a debt-to-equity ratio of 147.07, a current ratio of 2.35 and a quick ratio of 0.87.

Gildan Activewear (TSE:GIL) (NYSE:GIL) last posted its quarterly earnings data on Thursday, April 30th. The company reported C$0.60 earnings per share 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. As a group, equities research analysts anticipate that Gildan Activewear Inc. will post 4.5460385 earnings per share for the current year.

Gildan Activewear Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 15th were given a dividend of $0.249 per share. The ex-dividend date was Wednesday, May 20th. This represents a $1.00 annualized dividend and a dividend yield of 1.3%. Gildan Activewear’s payout ratio is currently 54.85%.

Insiders Place Their Bets

In other news, Director Deepak Kumar Khandelwal acquired 5,000 shares of the firm’s stock in a transaction on Monday, May 11th. The stock was acquired at an average price of C$79.80 per share, for a total transaction of C$399,000.00. Following the completion of the acquisition, the director owned 5,000 shares in the company, valued at C$399,000. This trade represents a ∞ increase in their ownership of the stock. 2.26% of the stock is currently owned by 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.