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

Gildan Activewear Inc. (TSE:GIL) (NYSE:GIL) crossed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of C$61.69 and traded as high as C$65.17. Gildan Activewear shares last traded at C$65.00, with a volume of 230,362 shares changing hands.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. TD Securities boosted their price target on 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. Citigroup boosted their target price on shares of Gildan Activewear from C$44.00 to C$54.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Desjardins increased their price target on shares of Gildan Activewear from C$63.00 to C$67.00 and gave the company a “buy” rating in a research report on Tuesday, August 6th. BMO Capital Markets raised shares of Gildan Activewear to a “strong-buy” rating in a research report on Friday, August 2nd. Finally, National Bankshares increased their target price on shares of Gildan Activewear from C$58.00 to C$68.00 in a research report on Wednesday, October 9th. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of C$56.00.

Gildan Activewear Trading Up 0.4 %

The stock has a market cap of C$10.57 billion, a price-to-earnings ratio of 19.88, a P/E/G ratio of 4.55 and a beta of 1.64. The company has a debt-to-equity ratio of 72.52, a current ratio of 2.35 and a quick ratio of 0.87. The company’s fifty day moving average price is C$61.69 and its 200-day moving average price is C$54.67.

Gildan Activewear (TSE:GIL) (NYSE:GIL) last released its earnings results on Thursday, August 1st. The company reported C$1.01 earnings per share for the quarter, topping the consensus estimate of C$0.99 by C$0.02. The company had revenue of C$1.18 billion for the quarter, compared to the consensus estimate of C$1.17 billion. Gildan Activewear had a net margin of 13.01% and a return on equity of 21.95%. On average, research analysts expect that Gildan Activewear Inc. will post 4.5460385 EPS for the current fiscal year.

Gildan Activewear Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 16th were paid a $0.28 dividend. This is a positive change from Gildan Activewear’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Thursday, August 22nd. This represents a $1.12 dividend on an annualized basis and a yield of 1.72%. Gildan Activewear’s dividend payout ratio (DPR) is 33.94%.

Insiders Place Their Bets

In other news, Senior Officer Benito Masi sold 50,000 shares of the stock in a transaction dated Monday, August 12th. The stock was sold at an average price of C$41.55, for a total value of C$2,077,495.00. In related news, Senior Officer Rhodri Harries sold 32,500 shares of the firm’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of C$61.20, for a total transaction of C$1,989,000.00. Also, Senior Officer Benito Masi sold 50,000 shares of the business’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of C$41.55, for a total transaction of C$2,077,495.00. In the last 90 days, insiders sold 101,620 shares of company stock valued at $4,870,471. 2.26% of the stock is owned by company insiders.

Gildan Activewear Company Profile

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.