Gildan Activewear (TSE:GIL) Stock Crosses Below Fifty Day Moving Average – Here’s What Happened

Gildan Activewear Inc. (TSE:GIL) (NYSE:GIL) passed 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.

Wall Street Analysts Forecast Growth

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

Gildan Activewear Stock Down 1.5%

The company has a market capitalization of C$14.05 billion, a price-to-earnings ratio of 44.91, a PEG ratio of 4.55 and a beta of 1.49. 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 business’s 50 day moving average is C$79.78 and its 200 day moving average is C$84.38.

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

Gildan Activewear Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 15th were issued a dividend of $0.249 per share. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.3%. Gildan Activewear’s payout ratio is 54.85%.

Insider Activity

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

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.