Gildan Activewear (TSE:GIL) Share Price Passes Below 50-Day Moving Average – Here’s Why

Gildan Activewear Inc. (TSE:GIL) (NYSE:GIL)’s stock price passed below its fifty day moving average during trading on Tuesday . The stock has a fifty 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 trading hands.

Wall Street Analysts Forecast Growth

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

Gildan Activewear Stock Performance

The stock has a market cap of C$10.85 billion, a P/E ratio of 20.41, a PEG ratio of 4.55 and a beta of 1.64. The company has a debt-to-equity ratio of 72.52, a current ratio of 2.35 and a quick ratio of 0.87. The company has a fifty day moving average of C$68.36 and a 200 day moving average of C$61.66.

Gildan Activewear Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 16th were issued a $0.205 dividend. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $0.82 annualized dividend and a dividend yield of 1.23%. Gildan Activewear’s dividend payout ratio (DPR) is 33.94%.

Insider Buying and Selling

In other news, Senior Officer Benito Masi sold 10,000 shares of the stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of C$69.31, for a total transaction of C$693,102.00. Also, Senior Officer Jason De Haan sold 15,000 shares of Gildan Activewear stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of C$69.35, for a total value of C$1,040,179.14. 2.26% of the stock is owned by corporate insiders.

Gildan Activewear Company Profile

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.