Gildan Activewear (TSE:GIL) Stock Passes Above Fifty Day Moving Average - Here's Why

Gildan Activewear Inc. (TSE:GIL - Get Free Report) 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 trading hands.

Wall Street Analyst Weigh In

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

Gildan Activewear Price Performance

The stock's 50-day moving average is C$65.00 and its 200 day moving average is C$57.01. The company has a debt-to-equity ratio of 72.52, a quick ratio of 0.87 and a current ratio of 2.35. The stock has a market capitalization of C$11.11 billion, a PE ratio of 20.83, a P/E/G ratio of 4.55 and a beta of 1.64.

Gildan Activewear Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders 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 annualized dividend and a yield of 1.20%. Gildan Activewear's dividend payout ratio is currently 33.94%.

Insider Transactions at Gildan Activewear

In related news, Director Michener Chandlee purchased 736 shares of the company's stock in a transaction that occurred on Monday, November 4th. The stock was purchased at an average price of C$67.83 per share, with a total value of C$49,920.57. Also, Senior Officer Rhodri Harries sold 32,500 shares of Gildan Activewear stock in a transaction on Friday, September 13th. The shares were sold at an average price of C$61.20, for a total value 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.