Gildan Activewear (TSE:GIL) Stock Passes Above Fifty Day Moving Average – Time to Sell?

Gildan Activewear Inc. (TSE:GIL) (NYSE:GIL)’s share price crossed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of C$70.31 and traded as high as C$72.69. Gildan Activewear shares last traded at C$72.39, with a volume of 428,714 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. UBS Group upgraded Gildan Activewear from a “hold” rating to a “strong-buy” rating in a report on Friday, January 10th. National Bankshares lifted their price target on Gildan Activewear from C$68.00 to C$74.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Five research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of C$57.20.

Gildan Activewear Price Performance

The company has a debt-to-equity ratio of 101.26, a quick ratio of 0.87 and a current ratio of 2.31. The stock has a 50 day moving average of C$70.31 and a two-hundred day moving average of C$65.39. The firm has a market capitalization of C$7.86 billion, a P/E ratio of 19.41, a P/E/G ratio of 4.55 and a beta of 1.64.

Gildan Activewear Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 16th were given a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 1.13%. The ex-dividend date was Thursday, November 21st. Gildan Activewear’s dividend payout ratio is currently 29.76%.

Insiders Place Their Bets

In other news, Senior Officer Benito Masi sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of C$69.31, for a total transaction of C$693,102.00. Company insiders own 2.26% of the company’s stock.

Gildan Activewear Company Profile

Gildan is a vertically integrated designer and manufacturer of basic apparel, including T-shirts, underwear, socks, and hosiery. Its primary market is the sale of blank T-shirts to wholesalers and printers (printwear). Gildan also sells branded clothing through retail and direct-to-consumer channels.