Home / Market Movers / Midday Mover: Gildan Activewear Inc. (GIL:CA) Gains 1.56% to Lead TSX Composite Consumer Discretionary Stocks at Noon on September 22

Midday Mover: Gildan Activewear Inc. (GIL:CA) Gains 1.56% to Lead TSX Composite Consumer Discretionary Stocks at Noon on September 22

Gildan Activewear Inc. (GIL:CA) is one of the best performing stocks in the consumer discretionary sector in the S&P/TSX Composite Index at the lunch break on September 22. Shares of GIL:CA have climbed 1.56% about halfway through the session to $37.03 after closing the day prior at $36.46. So far, the stock has traded as high as $37.11 and as low as $36.5 in morning action. Today’s advance has come with about 171,679 shares changing hands, compared to an average 30-day volume of 470,639 for Gildan Activewear Inc.. The price is currently below the 30-day volume weighted average price of $36.82 for GIL:CA.

The share appreciation gives the company a market capitalization of $8.45 billion based upon 231.75 million shares outstanding. It also means that Gildan Activewea has a price-to-book ratio of 3.14:1 and a price-to-earnings ratio of 18.5:1.

In the past 52 weeks, shares of GIL:CA have traded as low as $31.24 and as high as $42.44. Technical traders will take note that at $37.03, shares of GIL:CA are trading below their 200-day MA at $37.87 and below their 50-day MA at $38.69. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding above them is typically regarded as bullish.

Who is Gildan Activewea?

Gildan Activewear Inc is a supplier of basic family apparel including T-shirts, fleece, sport shirts, underwear and socks. The company’s 47000 employees are led by CEO Glenn J. Chamandy from the corporate headquarters at 600 de Maisonneuve Boulevard West.

What is the S&P/TSX Composite Index?

Developed and managed by S&P Dow Jones Indices and launched in January 1977, the S&P/TSX Composite is the headline index for the Canadian equity market. Generally, when investors refer to movement in the Canadian markets, they are referring to the S&P/TSX Composite, as it is the broadest index in the S&P/TSX franchise. The index includes more than 230 of the biggest companies traded on the Toronto Stock Exchange, with financials making up the most heavily weighted sector in the index, followed by energy and materials. The Toronto Stock Exchange serves as the distributor of both real-time and historical data for this index.


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