Gildan Activewear (TSE:GIL) Shares Pass Below Two Hundred Day Moving Average – Should You Sell?

Gildan Activewear Inc. (TSE:GIL) (NYSE:GIL)’s share price passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$68.55 and traded as low as C$62.67. Gildan Activewear shares last traded at C$63.08, with a volume of 437,679 shares traded.

Wall Street Analyst Weigh In

Several brokerages have recently commented 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 Gildan Activewear from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 10th. Finally, Desjardins lifted their price objective on Gildan Activewear from C$82.00 to C$87.00 and gave the stock a “buy” rating in a research 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. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of C$68.50.

Gildan Activewear Trading Down 2.2 %

The company has a debt-to-equity ratio of 101.26, a current ratio of 2.31 and a quick ratio of 0.87. The stock’s 50 day moving average is C$72.30 and its 200-day moving average is C$68.55. The company has a market capitalization of C$6.85 billion, a P/E ratio of 16.91, a P/E/G ratio of 4.55 and a beta of 1.64.

Gildan Activewear (TSE:GIL) (NYSE:GIL) last announced its earnings results on Wednesday, February 19th. The company reported C$0.83 earnings per share (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 posted $0.75 earnings per share. As a group, equities research analysts anticipate that Gildan Activewear Inc. will post 4.5460385 earnings per share for the current year.

Gildan Activewear Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Monday, April 7th will be given a dividend of $0.226 per share. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $0.90 annualized dividend and a yield of 1.43%. This is a positive change from Gildan Activewear’s previous quarterly dividend of $0.21. Gildan Activewear’s dividend payout ratio (DPR) is currently 29.76%.

Insider Activity

In other Gildan Activewear news, Senior Officer John Maness sold 1,661 shares of the business’s 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. Also, Senior Officer Rhodri Harries sold 100,000 shares of the stock in a transaction on Thursday, February 27th. The stock was sold at an average price of C$78.08, for a total value of C$7,808,000.00. In the last 90 days, insiders have sold 110,144 shares of company stock worth $8,568,586. 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.