Gildan Activewear (TSE:GIL) Stock Crosses Above 50 Day Moving Average – Should You Sell?

Gildan Activewear Inc. (TSE:GIL) (NYSE:GIL)’s stock price crossed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of C$64.83 and traded as high as C$68.34. Gildan Activewear shares last traded at C$68.14, with a volume of 520,321 shares traded.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Desjardins increased their target price on Gildan Activewear from C$63.00 to C$67.00 and gave the stock a “buy” rating in a research note on Tuesday, August 6th. National Bankshares lifted their target price on Gildan Activewear from C$68.00 to C$74.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. BMO Capital Markets upgraded shares of Gildan Activewear to a “strong-buy” rating in a research note on Friday, August 2nd. Citigroup lifted their price objective on shares of Gildan Activewear from C$44.00 to C$54.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. Finally, TD Securities increased their target price on shares of Gildan Activewear from C$46.00 to C$50.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of C$57.20.

Gildan Activewear Price Performance

The company has a quick ratio of 0.87, a current ratio of 2.35 and a debt-to-equity ratio of 72.52. The stock has a market capitalization of C$11.08 billion, a price-to-earnings ratio of 20.84, a P/E/G ratio of 4.55 and a beta of 1.64. The business’s 50 day simple moving average is C$64.83 and its 200-day simple moving average is C$56.88.

Gildan Activewear Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 16th will be paid a $0.205 dividend. The ex-dividend date is Thursday, November 21st. This represents a $0.82 dividend on an annualized basis and a yield of 1.20%. Gildan Activewear’s dividend payout ratio (DPR) is 33.94%.

Insider Buying and Selling at Gildan Activewear

In other Gildan Activewear news, Director Michener Chandlee bought 736 shares of the firm’s stock in a transaction on Monday, November 4th. The shares were purchased at an average price of C$67.83 per share, for a total transaction of C$49,920.57. Also, Senior Officer Rhodri Harries sold 32,500 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of C$61.20, for a total transaction of C$1,989,000.00. Company insiders own 2.26% of the company’s stock.

About Gildan Activewear

Gildan Activewear Inc manufactures and sells various apparel products in the United States, North America, Europe, Asia-Pacific, and Latin America. It provides various activewear products, including T-shirts, fleece tops and bottoms, and sports shirts under the Gildan, Gildan Performance, Gildan Hammer, Glidan Softstyle, Gildan Heavy Cotton, Gildan Ultra Cotton, Gildan DryBlend, Gildan HeavyBlend, Comfort Colors, and American Apparel brands.