Gildan Activewear (TSE:GIL) Stock Crosses Below 200-Day Moving Average - Here's Why

Gildan Activewear Inc. (TSE:GIL - Get Free Report) NYSE: GIL shares crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$68.55 and traded as low as C$62.67. Gildan Activewear shares last traded at C$63.08, with a volume of 437,679 shares trading hands.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Desjardins lifted their target price on shares of Gildan Activewear from C$82.00 to C$87.00 and gave the company a "buy" rating in a report on Thursday, February 20th. UBS Group upgraded Gildan Activewear from a "hold" rating to a "strong-buy" rating in a report on Friday, January 10th. Finally, National Bankshares set a C$83.00 price target on shares of Gildan Activewear and gave the stock an "outperform" rating in a research report on Wednesday, March 19th. Four equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, Gildan Activewear presently has an average rating of "Buy" and an average price target of C$68.50.

Gildan Activewear Trading Up 0.4 %

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 market capitalization of C$6.99 billion, a PE ratio of 17.26, a price-to-earnings-growth ratio of 4.55 and a beta of 1.64. The business's 50-day moving average is C$72.00 and its two-hundred day moving average is C$68.61.

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Gildan Activewear (TSE:GIL - Get Free Report) NYSE: GIL last released its quarterly earnings results on Wednesday, February 19th. The company reported C$0.83 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company posted $0.75 EPS. As a group, equities research analysts anticipate that Gildan Activewear Inc. will post 4.5460385 earnings per share for the current year.

Gildan Activewear Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Monday, April 7th will be paid a $0.226 dividend. The ex-dividend date of this dividend is Wednesday, March 12th. This is an increase from Gildan Activewear's previous quarterly dividend of $0.21. This represents a $0.90 annualized dividend and a dividend yield of 1.40%. Gildan Activewear's dividend payout ratio is 29.76%.

Insider Activity at Gildan Activewear

In other news, Senior Officer Michael Schroeder sold 4,299 shares of the stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of C$78.02, for a total transaction of C$335,428.68. Also, Senior Officer Rhodri Harries sold 100,000 shares of the company's stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of C$78.08, for a total transaction of C$7,808,000.00. Over the last 90 days, insiders sold 110,144 shares of company stock valued at $8,568,586. 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.