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

Gildan Activewear Inc. (TSE:GIL) (NYSE:GIL)’s share price passed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of C$70.31 and traded as high as C$72.69. Gildan Activewear shares last traded at C$72.39, with a volume of 428,714 shares changing hands.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. National Bankshares upped their price target 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. UBS Group upgraded shares of Gildan Activewear from a “hold” rating to a “strong-buy” rating in a report on Friday, January 10th. Five research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Gildan Activewear currently has an average rating of “Buy” and a consensus price target of C$57.20.

Gildan Activewear Price Performance

The company’s fifty day moving average is C$70.38 and its 200 day moving average is C$65.52. The firm has a market cap of C$7.84 billion, a price-to-earnings ratio of 19.36, 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.

Gildan Activewear Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 16th were paid a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date was Thursday, November 21st. Gildan Activewear’s dividend payout ratio is currently 29.76%.

Insider Buying and Selling at Gildan Activewear

In other Gildan Activewear news, Senior Officer Benito Masi sold 10,000 shares of the stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of C$69.31, for a total value of C$693,102.00. Corporate insiders own 2.26% of the company’s stock.

About Gildan Activewear

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.