Gildan Activewear (TSE:GIL) Share Price Crosses Above Fifty Day Moving Average of $55.97

Gildan Activewear Inc. (TSE:GIL - Get Free Report) NYSE: GIL's stock price passed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of C$55.97 and traded as high as C$59.97. Gildan Activewear shares last traded at C$59.95, with a volume of 328,644 shares.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on GIL shares. BMO Capital Markets upgraded Gildan Activewear to a "strong-buy" rating in a report on Friday, August 2nd. National Bankshares boosted their price target on shares of Gildan Activewear from C$57.00 to C$58.00 and gave the company an "outperform" rating in a research note on Friday, August 2nd. Desjardins raised their price objective on shares of Gildan Activewear from C$63.00 to C$67.00 and gave the company a "buy" rating in a research note on Tuesday, August 6th. Finally, TD Securities boosted their target price on shares of 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. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of C$54.00.

Gildan Activewear Price Performance

The company has a current ratio of 2.35, a quick ratio of 0.87 and a debt-to-equity ratio of 72.52. The business has a 50-day moving average of C$56.31 and a 200 day moving average of C$51.53. The firm has a market capitalization of C$9.91 billion, a PE ratio of 18.69, a price-to-earnings-growth ratio of 4.55 and a beta of 1.65.

Gildan Activewear (TSE:GIL - Get Free Report) NYSE: GIL last announced its earnings results on Thursday, August 1st. The company reported C$1.01 EPS for the quarter, beating the consensus estimate of C$0.99 by C$0.02. Gildan Activewear had a net margin of 13.01% and a return on equity of 21.95%. The company had revenue of C$1.18 billion during the quarter, compared to the consensus estimate of C$1.17 billion. As a group, research analysts anticipate that Gildan Activewear Inc. will post 4.2564103 EPS for the current fiscal year.

Gildan Activewear Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 16th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.84%. This is an increase from Gildan Activewear's previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Thursday, August 22nd. Gildan Activewear's dividend payout ratio (DPR) is presently 34.36%.

Insiders Place Their Bets

In other news, Senior Officer Benito Masi sold 50,000 shares of the firm's stock in a transaction on Monday, August 12th. The stock was sold at an average price of C$41.55, for a total transaction of C$2,077,495.00. In other news, Senior Officer Benito Masi sold 50,000 shares of the stock in a transaction that occurred 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. Also, Director Michener Chandlee purchased 1,196 shares of the firm's stock in a transaction dated Thursday, August 8th. The shares were bought at an average price of C$40.85 per share, with a total value of C$48,856.60. Over the last quarter, insiders have sold 69,120 shares of company stock valued at $2,881,471. 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.