Gildan Activewear (TSE:GIL) Stock Passes Below 50-Day Moving Average – Here’s What Happened

Shares of Gildan Activewear Inc. (TSE:GIL) (NYSE:GIL) crossed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of C$68.36 and traded as low as C$66.40. Gildan Activewear shares last traded at C$66.75, with a volume of 250,165 shares traded.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on GIL shares. Citigroup lifted their target price on Gildan Activewear from C$44.00 to C$54.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. National Bankshares lifted their price objective on shares of Gildan Activewear from C$68.00 to C$74.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of C$57.20.

Gildan Activewear Stock 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 72.52. The firm’s 50 day simple moving average is C$68.35 and its two-hundred day simple moving average is C$61.87. The firm has a market cap of C$10.99 billion, a price-to-earnings ratio of 20.68, a PEG ratio of 4.55 and a beta of 1.64.

Gildan Activewear Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 16th were paid a dividend of $0.205 per share. The ex-dividend date was Thursday, November 21st. This represents a $0.82 dividend on an annualized basis and a dividend yield of 1.21%. Gildan Activewear’s payout ratio is presently 33.94%.

Insider Buying and Selling at Gildan Activewear

In other news, Senior Officer Jason De Haan sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of C$69.35, for a total transaction of C$1,040,179.14. Also, Director Michener Chandlee acquired 736 shares of Gildan Activewear stock in a transaction dated Monday, November 4th. The shares were acquired at an average price of C$67.83 per share, with a total value of C$49,920.57. Corporate insiders own 2.26% of the company’s stock.

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.