Gildan Activewear (TSE:GIL) Stock Price Crosses Above 50 Day Moving Average – Time to Sell?

Gildan Activewear Inc. (TSE:GIL) (NYSE:GIL)’s share price crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of C$74.30 and traded as high as C$79.77. Gildan Activewear shares last traded at C$79.01, with a volume of 558,089 shares trading hands.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Royal Bank Of Canada upgraded shares of Gildan Activewear to a “moderate buy” rating in a research report on Tuesday, August 5th. Scotiabank upgraded shares of Gildan Activewear to a “strong-buy” rating in a research report on Wednesday, May 28th. National Bankshares lifted their target price on shares of Gildan Activewear from C$80.00 to C$85.00 and gave the company an “outperform” rating in a research report on Thursday, August 14th. Cfra Research upgraded shares of Gildan Activewear to a “hold” rating in a research report on Monday, August 4th. Finally, TD Securities lifted their target price on shares of Gildan Activewear from C$60.00 to C$67.00 and gave the company a “buy” rating in a research report on Monday, September 8th. Three equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of C$77.33.

Gildan Activewear Price Performance

The stock’s 50-day moving average price is C$74.30 and its 200-day moving average price is C$67.90. The company has a market capitalization of C$11.78 billion, a price-to-earnings ratio of 25.32, a price-to-earnings-growth ratio of 4.55 and a beta of 1.27. The company has a quick ratio of 0.87, a current ratio of 2.31 and a debt-to-equity ratio of 101.26.

Gildan Activewear Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 15th were issued a $0.226 dividend. This represents a $0.90 annualized dividend and a yield of 1.1%. The ex-dividend date was Thursday, August 21st. Gildan Activewear’s dividend payout ratio is currently 27.63%.

Insider Buying and Selling

In other Gildan Activewear news, insider Benito Masi sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of C$75.07, for a total value of C$1,126,017.00. Following the completion of the sale, the insider owned 359,421 shares of the company’s stock, valued at approximately C$26,980,943.74. This represents a 4.01% decrease in their ownership of the stock. 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.