Gildan Activewear (TSE:GIL) Stock Price Crosses Above Fifty Day Moving Average of $49.31

Gildan Activewear Inc. (TSE:GIL) (NYSE:GIL)’s stock price crossed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of C$49.31 and traded as high as C$52.34. Gildan Activewear shares last traded at C$51.78, with a volume of 1,312,680 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, National Bankshares dropped their price target on Gildan Activewear from C$58.00 to C$57.00 and set an “outperform” rating on the stock in a research note on Friday, May 24th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$46.80.

Gildan Activewear Trading Down 0.2 %

The firm has a market cap of C$8.73 billion, a PE ratio of 12.85, a P/E/G ratio of 3.54 and a beta of 1.63. The company has a debt-to-equity ratio of 64.76, a quick ratio of 0.87 and a current ratio of 2.38. The company has a 50 day simple moving average of C$49.31 and a two-hundred day simple moving average of C$47.28.

Gildan Activewear (TSE:GIL) (NYSE:GIL) last issued its quarterly earnings results on Wednesday, May 1st. The company reported C$0.80 earnings per share for the quarter, topping the consensus estimate of C$0.72 by C$0.08. Gildan Activewear had a net margin of 16.14% and a return on equity of 26.88%. The company had revenue of C$938.04 million for the quarter, compared to the consensus estimate of C$956.47 million. Analysts expect that Gildan Activewear Inc. will post 4.0599002 EPS for the current fiscal year.

Gildan Activewear Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 17th were paid a $0.277 dividend. The ex-dividend date was Wednesday, May 22nd. This represents a $1.11 dividend on an annualized basis and a dividend yield of 2.14%. This is a positive change from Gildan Activewear’s previous quarterly dividend of $0.28. Gildan Activewear’s dividend payout ratio is presently 28.04%.

Insiders Place Their Bets

In related news, Director Ghislain Houle bought 9,625 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The shares were purchased at an average cost of C$51.83 per share, with a total value of C$498,834.88. In other news, Director Ghislain Houle purchased 9,625 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The shares were bought at an average price of C$51.83 per share, for a total transaction of C$498,834.88. Also, Senior Officer Rhodri Harries sold 28,698 shares of the firm’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of C$39.00, for a total transaction of C$1,119,222.00. 2.17% of the stock is owned by insiders.

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.