Gildan Activewear (TSE:GIL) Stock Crosses Below Two Hundred Day Moving Average – Time to Sell?

Gildan Activewear Inc. (TSE:GIL) (NYSE:GIL) crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$68.18 and traded as low as C$55.73. Gildan Activewear shares last traded at C$56.41, with a volume of 499,970 shares.

Wall Street Analyst Weigh In

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

Gildan Activewear Stock Up 0.9 %

The company has a debt-to-equity ratio of 101.26, a current ratio of 2.31 and a quick ratio of 0.87. The stock’s fifty day simple moving average is C$66.97 and its two-hundred day simple moving average is C$68.10. The company has a market capitalization of C$6.18 billion, a price-to-earnings ratio of 15.27, a PEG ratio of 4.55 and a beta of 1.64.

Gildan Activewear (TSE:GIL) (NYSE:GIL) last issued its earnings results on Wednesday, February 19th. The company reported C$0.83 earnings per share for the quarter, topping the consensus estimate 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 last year, the firm earned $0.75 EPS. On average, sell-side analysts predict that Gildan Activewear Inc. will post 4.5460385 earnings per share for the current fiscal year.

Gildan Activewear Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 7th. Shareholders of record on Monday, April 7th were given a dividend of $0.226 per share. This represents a $0.90 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date was Wednesday, March 12th. This is a positive change from Gildan Activewear’s previous quarterly dividend of $0.21. Gildan Activewear’s payout ratio is 29.76%.

Insider Buying and Selling at Gildan Activewear

In other Gildan Activewear news, Senior Officer Rhodri Harries sold 100,000 shares of the company’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of C$78.08, for a total value of C$7,808,000.00. Also, Senior Officer John Maness sold 1,661 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of C$68.77, for a total transaction of C$114,234.28. In the last 90 days, insiders have sold 110,144 shares of company stock valued at $8,568,586. Company insiders own 2.26% of the company’s stock.

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.