Trade Report: The Gap Inc. (GPS) Cut to “Sell” at Vetr Inc.

The Gap Inc. (GPS) Cut to “Sell” at Vetr Inc.

Vetr cut shares of Gap Inc. (NYSE:GPS) from a strong-buy rating to a sell rating in a research report released on Monday. They currently have $25.20 price objective on the apparel retailer’s stock.

GPS has been the topic of several other reports. JPMorgan Chase & Co. reissued a sell rating and issued a $22.00 target price on shares of Gap in a research report on Friday, August 19th. RBC Capital Markets set a $23.00 target price on Gap and gave the stock a hold rating in a research report on Tuesday, September 13th. Nomura raised their target price on Gap from $22.00 to $24.00 and gave the stock a neutral rating in a research report on Friday, August 19th. Oppenheimer Holdings Inc. reissued a rating and issued a $20.00 target price on shares of Gap in a research report on Monday, August 22nd. Finally, Deutsche Bank AG reaffirmed a sell rating on shares of Gap in a research note on Friday, September 2nd. Six analysts have rated the stock with a sell rating, twenty-seven have given a hold rating and five have assigned a buy rating to the company. Gap presently has an average rating of Hold and an average target price of $25.29.

Shares of Gap (NYSE:GPS) opened at 26.85 on Monday. Gap has a 52 week low of $17.00 and a 52 week high of $30.49. The company has a 50-day moving average price of $23.85 and a 200-day moving average price of $23.00. The company has a market capitalization of $10.70 billion, a PE ratio of 15.13 and a beta of 1.28.

Gap (NYSE:GPS) last announced its earnings results on Thursday, August 18th. The apparel retailer reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.01. The business had revenue of $3.85 billion for the quarter, compared to analysts’ expectations of $3.79 billion. Gap had a return on equity of 33.26% and a net margin of 4.60%. The business’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same period last year, the firm posted $0.64 earnings per share. Analysts predict that Gap will post ($0.01) earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 26th. Stockholders of record on Wednesday, October 5th will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 3.43%. The ex-dividend date of this dividend is Monday, October 3rd. Gap’s payout ratio is 51.98%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Summit Street Capital Management LLC raised its position in Gap by 2.8% in the first quarter. Summit Street Capital Management LLC now owns 82,679 shares of the apparel retailer’s stock valued at $2,431,000 after buying an additional 2,230 shares during the last quarter. AXA raised its position in shares of Gap by 4.1% in the first quarter. AXA now owns 1,682,660 shares of the apparel retailer’s stock valued at $49,470,000 after buying an additional 66,400 shares in the last quarter. Pictet Asset Management Ltd. raised its position in shares of Gap by 1.1% in the first quarter. Pictet Asset Management Ltd. now owns 187,080 shares of the apparel retailer’s stock valued at $5,172,000 after buying an additional 2,090 shares in the last quarter. Lazard Asset Management LLC raised its position in shares of Gap by 25,265.6% in the first quarter. Lazard Asset Management LLC now owns 2,020,625 shares of the apparel retailer’s stock valued at $59,406,000 after buying an additional 2,012,659 shares in the last quarter. Finally, State Street Corp raised its position in shares of Gap by 1.3% in the first quarter. State Street Corp now owns 10,878,900 shares of the apparel retailer’s stock valued at $319,845,000 after buying an additional 140,396 shares in the last quarter. 57.42% of the stock is owned by hedge funds and other institutional investors.

Gap Company Profile

The Gap, Inc (Gap Inc) is an apparel retail company. The Company offers apparel, accessories and personal care products for men, women and children under the Gap, Banana Republic, Old Navy, Athleta and Intermix brands. Its products are available to customers online through Company-owned Websites and through the use of third-parties that provide logistics and fulfillment services.

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