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

Gildan Activewear Inc. (TSE:GIL - Get Free Report) NYSE: GIL's stock price crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred 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.

Analyst Ratings Changes

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

Gildan Activewear Price Performance

The company has a market cap of C$5.83 billion, a price-to-earnings ratio of 14.39, a PEG ratio of 4.55 and a beta of 1.64. The company has a 50-day simple moving average of C$69.68 and a 200-day simple moving average of C$68.49. The company has a debt-to-equity ratio of 101.26, a quick ratio of 0.87 and a current ratio of 2.31.

Gildan Activewear (TSE:GIL - Get Free Report) NYSE: GIL last posted its quarterly 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 return on equity of 23.10% and a net margin of 13.05%. During the same period in the prior year, the firm earned $0.75 EPS. As a group, research analysts predict that Gildan Activewear Inc. will post 4.5460385 earnings per share for the current year.

Gildan Activewear Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 7th. Stockholders of record on Monday, April 7th were paid a dividend of $0.226 per share. The ex-dividend date was Wednesday, March 12th. This is a boost from Gildan Activewear's previous quarterly dividend of $0.21. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.68%. Gildan Activewear's dividend payout ratio is 29.76%.

Insider Activity

In other Gildan Activewear news, Senior Officer Rhodri Harries sold 100,000 shares of the business's stock in a transaction on 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. Also, Senior Officer Michael Schroeder sold 4,299 shares of the firm's stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of C$78.02, for a total value of C$335,428.68. Insiders sold 110,144 shares of company stock worth $8,568,586 in the last 90 days. 2.26% of the stock is currently owned by corporate insiders.

About Gildan Activewear

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.