Gildan Activewear (TSE:GIL) Stock Price Crosses Above Fifty Day Moving Average After Insider Selling

Gildan Activewear Inc. (TSE:GIL) (NYSE:GIL) passed above its 50 day moving average during trading on Tuesday after an insider bought additional shares in the company. The stock has a 50 day moving average of C$62.44 and traded as high as C$68.75. Gildan Activewear shares last traded at C$68.43, with a volume of 420,845 shares changing hands.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on GIL. Desjardins decreased their price target on Gildan Activewear from C$87.00 to C$80.00 and set a “buy” rating for the company in a report on Wednesday, April 30th. Barclays upgraded shares of Gildan Activewear to a “strong-buy” rating in a report on Monday, April 28th. Finally, National Bankshares decreased their price objective on shares of Gildan Activewear from C$83.00 to C$72.00 in a research note on Monday, April 21st. Four research analysts have rated the stock with a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, Gildan Activewear presently has a consensus rating of “Buy” and an average price target of C$64.00.

Gildan Activewear Stock Up 0.2%

The company has a market capitalization of C$7.45 billion, a PE ratio of 18.39, a P/E/G ratio of 4.55 and a beta of 1.64. The stock’s fifty day moving average is C$62.32 and its two-hundred day moving average is C$67.81. The company has a current ratio of 2.31, a quick ratio of 0.87 and a debt-to-equity ratio of 101.26.

Gildan Activewear (TSE:GIL) (NYSE:GIL) last released its earnings results on Wednesday, February 19th. The company reported C$0.83 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.82 by C$0.01. Gildan Activewear had a net margin of 13.05% and a return on equity of 23.10%. During the same period in the previous year, the business earned $0.75 EPS. As a group, analysts predict that Gildan Activewear Inc. will post 4.5460385 EPS for the current year.

Gildan Activewear Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 16th will be given a dividend of $0.226 per share. The ex-dividend date is Tuesday, May 20th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.32%. Gildan Activewear’s dividend payout ratio is presently 29.76%.

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.