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

Gildan Activewear Inc. (TSE:GIL) (NYSE:GIL) shares crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$84.62 and traded as low as C$80.82. Gildan Activewear shares last traded at C$80.87, with a volume of 740,403 shares changing hands.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on GIL. National Bank Financial increased their target price on Gildan Activewear from C$100.00 to C$101.00 and gave the company an “outperform” rating in a report on Friday, May 1st. TD Securities increased their target price on Gildan Activewear from C$77.00 to C$80.00 and gave the company a “buy” rating in a report on Friday, February 27th. Finally, Desjardins increased their target price on Gildan Activewear from C$95.00 to C$108.00 and gave the company a “buy” rating in a report on Wednesday, February 25th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Gildan Activewear has a consensus rating of “Moderate Buy” and an average target price of C$88.00.

Gildan Activewear Trading Up 0.1%

The company has a current ratio of 2.35, a quick ratio of 0.87 and a debt-to-equity ratio of 147.07. The company has a market cap of C$14.99 billion, a PE ratio of 47.89, a P/E/G ratio of 4.55 and a beta of 1.62. The business’s 50-day simple moving average is C$79.67 and its 200-day simple moving average is C$84.62.

Gildan Activewear (TSE:GIL) (NYSE:GIL) last released its earnings results on Thursday, April 30th. The company reported C$0.60 earnings per share (EPS) for the quarter. Gildan Activewear had a net margin of 6.14% and a return on equity of 10.08%. The company had revenue of C$1.62 billion during the quarter. As a group, analysts expect that Gildan Activewear Inc. will post 4.5460385 EPS for the current fiscal year.

Gildan Activewear Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 15th will be given a $0.249 dividend. The ex-dividend date is Wednesday, May 20th. This represents a $1.00 dividend on an annualized basis and a yield of 1.2%. Gildan Activewear’s dividend payout ratio is presently 54.85%.

Insider Transactions at Gildan Activewear

In related news, Director Deepak Kumar Khandelwal bought 5,000 shares of the business’s stock in a transaction on Monday, May 11th. The stock was bought at an average price of C$79.80 per share, for a total transaction of C$399,000.00. Following the transaction, the director directly owned 5,000 shares in the company, valued at C$399,000. This represents a ∞ increase in their ownership of the stock. 2.26% of the stock is currently owned by insiders.

Gildan Activewear Company Profile

Gildan is a leading manufacturer of everyday basic apparel. The Company’s product offering includes activewear, underwear, socks, and intimates sold to a broad range of customers, including wholesale distributors, screenprinters, embellishers, retailers or e-commerce platforms, as well as global lifestyle brand companies. Gildan markets its products in North America, Europe, Asia Pacific, and Latin America, under a diversified portfolio of Company-owned brands including Gildan®, Hanes®, Comfort Colors®, American Apparel®, ALLPRO¿, GOLDTOE®, Peds®, Bali®, Playtex®, Maidenform®, Bonds®, as well as Champion® which is under an exclusive licensing agreement for the printwear channel in the U.S.