Gildan Activewear (TSE:GIL) Stock Price Crosses Below Two Hundred Day Moving Average – Here’s Why

Gildan Activewear Inc. (TSE:GIL) (NYSE:GIL) passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$68.69 and traded as low as C$58.55. Gildan Activewear shares last traded at C$58.89, with a volume of 751,047 shares trading hands.

Analysts Set New Price Targets

GIL has been the topic of several research analyst reports. UBS Group upgraded shares of Gildan Activewear from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 10th. National Bankshares set a C$83.00 target price on Gildan Activewear and gave the stock an “outperform” rating in a report on Wednesday, March 19th. Finally, Desjardins increased their price target on Gildan Activewear from C$82.00 to C$87.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Four research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of C$68.50.

Gildan Activewear Trading Down 3.9 %

The company has a 50-day moving average price of C$70.87 and a two-hundred day moving average price of C$68.66. The stock has a market cap of C$6.15 billion, a P/E ratio of 15.18, a P/E/G ratio of 4.55 and a beta of 1.64. 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 posted its quarterly earnings data 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 quarter in the previous year, the business earned $0.75 EPS. 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 declared a quarterly dividend, which will be paid on Monday, April 7th. Investors of record on Monday, April 7th will be issued a dividend of $0.226 per share. This represents a $0.90 annualized dividend and a yield of 1.60%. This is an increase from Gildan Activewear’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Wednesday, March 12th. Gildan Activewear’s dividend payout ratio is presently 29.76%.

Insider Buying and Selling

In related news, Senior Officer Rhodri Harries sold 100,000 shares of the firm’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of C$78.08, for a total value of C$7,808,000.00. Also, Senior Officer Michael Schroeder sold 4,184 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of C$74.31, for a total transaction of C$310,923.50. Following the transaction, the insider now directly owns 51 shares in the company, valued at approximately C$3,789.94. This trade represents a 98.80 % decrease in their ownership of the stock. Insiders have sold 110,144 shares of company stock valued at $8,568,586 in the last ninety days. 2.26% of the stock is owned by company insiders.

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.