Gildan Activewear (TSE:GIL) Stock Price Passes Below 200 Day Moving Average – What’s Next?

Gildan Activewear Inc. (TSE:GIL) (NYSE:GIL)’s share price passed 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 traded.

Analysts Set New Price Targets

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

Gildan Activewear Stock Down 3.9 %

The company has a market cap of C$6.15 billion, a PE ratio of 15.18, a PEG ratio of 4.55 and a beta of 1.64. The company has a quick ratio of 0.87, a current ratio of 2.31 and a debt-to-equity ratio of 101.26. The company’s fifty day moving average is C$70.87 and its 200-day moving average is C$68.66.

Gildan Activewear (TSE:GIL) (NYSE:GIL) last issued its quarterly earnings data on Wednesday, February 19th. The company reported C$0.83 EPS 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 company earned $0.75 earnings per share. On average, analysts predict that Gildan Activewear Inc. will post 4.5460385 EPS for the current year.

Gildan Activewear Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Monday, April 7th will be issued a dividend of $0.226 per share. 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 yield of 1.60%. The ex-dividend date of this dividend is Wednesday, March 12th. Gildan Activewear’s dividend payout ratio is currently 29.76%.

Insider Transactions at Gildan Activewear

In other news, Senior Officer Michael Schroeder sold 4,299 shares of the 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. Also, Senior Officer John Maness sold 1,661 shares of the stock in a transaction on Thursday, March 13th. The stock was sold at an average price of C$68.77, for a total value of C$114,234.28. Insiders have 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 insiders.

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.